This story was corrected on May 3, 2011, to reflect that Dynasty Financial Partners does not buy stakes in RIA firms, and that NFP Securities launched the IndeSuite wealth management platform, not Schwab Advisor Services.

Registered investment advisor firms looking for ways to expand their businesses might try turning to broker-dealers for a boost. The right broker-dealer can help an RIA firm construct a hybrid business platform as a powerful tool to recruit breakaway brokers from the wirehouse channel. Beacon Pointe Advisors, based in Newport Beach, Calif., thought so when it affiliated two years ago with Purshe Kaplan & Sterling, a broker-dealer based in Albany, N.Y.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access