In an effort to ramp up its ETF offerings, Charles Schwab announced today that it has acquired an ETF-focused money management company with nearly $4 billion in assets. Schwab paid $150 million in cash and stock for the company.
A total of 40 M&A deals, representing $30 billion in assets under management acquired, were completed in the RIA channel in the first half of 2010. That’s the strongest first half on record in terms of deal volume, according to Schwab Advisor Services which started tracking the data in 2003. There were 16 deals completed in the second quarter compared with 24 in the first quarter this year.
Christopher E. Baggini has been appointed as senior portfolio manager/security analyst at Turner Investment Partners. Baggini previously was the lead portfolio manager of the Aberdeen Equity Long-Short Fund, which won Lipper Fund Awards for the best ...
Maybe financial planning isn’t all it’s cracked up to be. Sure, it’s been held out as a “must have” service, especially during down markets. But it turns out it doesn’t really give advisors a leg up in winning new clients or generating revenue.
The nervous-client-syndrome has yet to wear off. That’s according to a new survey that says most advisors are still spending the majority of their time with existing clients rather then generating new business.
As one advisor puts it, “ didn’t invest in LPL to hang out. It was a business decision and they’re ready to monetize their investment.” The PE firms’ 2005 investment valued LPL at $2.5 billion, or 2.5x gross revenue—a multiple analysts said was the highest ever for an independent b/d/.
Marc Chaikin, stock market expert and the creator of Chaikin Money Flow, demonstrates how to build portfolios that outperform the market and beat robo advisors. He'll demonstrate the simple way to find trends in equity sectors—and use a combination of stocks and ETFs to construct strong client portfolios....More
Say “retirement plan” and most people today think 401(k). 403(b) plans are generally considered the exception or the anomaly, and until several years ago, they really were quite different from 401(k) plans....More
Recent statistics show markedly improved longevity rates. Between 1985 and 2010, the number of people living past age 90 tripled and will quadruple in the next 40 years. In addition, death rates for various diseases including the two leading killers (heart disease and cancer) have decreased from 38% to 13.5% over the past 10 years....More