Charles Paikert

The dually registered and registered investment advisor channels were the fastest-growing for assets under management from 2010 to 2011, Cerulli Associates reported today -- but the two are still dwarfed by assets in the wirehouse channel.

The three-year-old Tampa-based broker-dealer and RIA has opened a new office in Sebring, Fla., bringing on 17-year Merrill Lynch veteran Kelly Connelly as a financial advisor and first vice president of investments.

Call it a generation-skipping succession plan. When 62-year old industry veteran John LaPann decided it was time to hand over the reins of Federal Street Advisors, observers may have expected his successor would emerge from the ranks of firm veterans now in their 50s, but instead the firm chose some younger leaders.

LPL’s highly publicized outsourcing effort will cost the company between $70 million and $75 million over the next three years, but will result in annualized operational savings of $30 million to $35 million beginning in 2015, according to Dan Arnold, its chief financial officer.

“FSI has long supported a uniform fiduciary standard that increases protection for investors without limiting access to financial advice and service for Main Street Americans,” Dale Brown, the institute’s president and chief executive said in a statement Monday.

Working with sports stars can be prestigious, even glamorous -- and is often a highly sought after market niche for financial advisors and wealth managers, but professional athletes can also present advisors with a minefield of challenges

As more wealth management firms are emphasizing non-financial services to target high- and ultra high-net-worth clients, a new report recommends the benefits of family foundations.

The growing effects of climate change should be a wake-up call for art collectors and their planners, says a top art insurance executive.

There's a shift afoot in advisor compensation.

Dynasty Financial announced Monday that Octagon Financial Services, a McLean, Va., registered investment advisor that specializes in working with professional athletes, is now using Dynasty's open-architecture wealth management services and technology platform.

A Phoenix registered investment advisor has agreed to pay nearly $275,000 to the SEC in a case stemming from the sale of a stake in his firm -- at an allegedly inflated price -- to a client.

Multi-family offices and wealth advisors are registering solid revenue growth, according to a new report from Chicago-based Family Office Exchange. But they also face “operational challenges” going forward.