One of the countrys largest broker-dealers just brought in $400 million in new client AUM.
Royal Alliance, the No. 10 firm on last years
HYBRID APPEALS
While our recruits continue to notice our open architecture platform and leading technology, ... we are seeing fee-based advisors come on board for our hybrid solution, Kevin Beard, senior VP of recruiting for Royal, said in the same statement.
JLTD, with $100 million in AUM, had actually dropped its B-D affiliation and registration in 2011, according to Royal. After operating as a stand-alone RIA for a year and a half, managing partners Tim McGrath and Horace Seely-Brown decided to move to a hybrid platform -- an increasingly popular choice for advisors industrywide -- in order to better grow their business, the statement said.
TRANSITION SUPPORT
The balance of the new AUM comes from Integrated Financial Group, which includes five financial advisors -- Sam Clark, James Davenport, Les Barber, Steve Fulmer and Casey Kotter -- and eight staff members, according to Royal.
The firm, which focuses primarily on younger clients, cited the high-level of transition support services as a factor in its decision, the statement said.
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