RIA Edge

A year after announcing it would leave Raymond James and restructure from an OSJ to a hybrid, multi-custodial RIA, Concurrent says it recruited more than $1 billion in assets and added Schwab as a custodian.

Beacon Pointe is looking to the wirehouses to bring over talent and assets at lower multiples.

“By selling United Capital and by selling PFM … it allows us to take the resources and the investment we might’ve geared toward growing that and add it to our investment in ultra-high-net-worth growth,” said Goldman CEO David Solomon.

The new Fidelity Independence Hub offers information and tools for advisors thinking about striking out on their own.

Charles Schwab execs say RIA asset attrition ahead of the Labor Day conversion was less than expected, even with a “substantial” number of RIAs actively booted in the TD Ameritrade merger.

“It’s not really a matter of if; it’s a matter of when Sanctuary is more acquisitive in the marketplace,” said Sanctuary CEO Adam Malamed.

Joe Duran has named Terri Kallsen, former WEG and Schwab executive, as managing partner and senior operating advisor at Rise Growth Partners.