RIA

Sponsored By: Schwab Institutional

• Petrozzo New CIO at Fidelity

  Daniel Petrozzo, formerly of Morgan Stanley, was named the new chief information officer at Fidelity Investments.

• Auld Named New CEO AIG Financial Advisors

  Jeffrey Auld replaces James R. Cannon; until May, Auld had led Berthel Fisher.

• New Head of RIA Channel at JPMorgan

  Steve Landquist will head up JPMorgan's business strategy of the institutional advisor group.

• LPL Prepping for an IPO

  Independent broker-dealer behemoth plans to go public within two to three years, CEO says.

• Schwab Launches New Performance Reporting Program

  PortfolioService will be available to all independent investment advisors regardless of whether or not they custody assets with Schwab Institutional.

• AIG Advisor Nabs Mark Schlafly from LPL

  Mark J. Schlafly has been named the president and CEO of two broker-dealer subsidiaries of AIG Advisor Group.

• Schwab Feels Advisors' Ire

  With several proposed class action lawsuits connected to its "YieldPlus" fund, the Charles Schwab Corp. is facing a season of advisor discontent.

• Why Everyone Should Know the 'Uniformed Trade Secrets Act'

  As brokers play musical chairs, are former clients off limits?

• Ruling in NEXT case

  SEC fines NEXT for violating privacy laws.

• Help Wanted ... For Job Seekers

  The credit crisis and its offshoots have dramatically slowed hiring, separated thousands of financial professionals from their jobs and cut guarantees in compensation packages almost completely--and the cycle is not expected to end soon.

• Six-Month Grace Period Says CFP

  Enforcement of the revised professional conduct code will begin January 1, 2009.

• Albright to Speak at Schwab Impact Conference

  Former U.S. Secretary of State Madeleine Albright will deliver the closing keynote address at the 2008 Schwab Impact conference, it was announced this week.

• Set Me Free

  LPL Financial expands its offerings for independent advisors.

• Millionaires Ahoy!

  Independent advisors who are looking to snag more millionaire clients should focus their efforts on prospects who do not already have a registered investment advisor (RIA).

• FP 50: Survey Results, 2008

  A look at the survey results for this year's Annual Survey of Independent Broker-Dealers.

• Lookin' Good, Broker Dealers

  Despite the troubled economy, the picture was rosy for the top 50 broker-dealers as revenues and payouts soared to record highs.

• Be Careful What You Wish For

  As the industry changes, advisors need to be aware of the tradeoffs their broker-dealers may be making to stay profitable.

• All Systems Go

  The economy and investment markets may be in a downturn, but broker-dealers are upbeat about taking on clients, advisors and possibly new acquisitions.

• Study Shows Life Planning Wins Business

  A new study sponsored by the FPA shows that the "life planning" approach to servicing clients helps planners win—and keep—business.

• Revenues Up, Income Down at LPL Financial

  Boston-based LPL posted revenues of $798.6 million for the period ending March 31, up 41.9% from the same period in 2007; net income for the quarter was down nearly 39% to $20.3 million.