RIAs

With the new office, the Ric Edelman-owned wealth management firm now has 32 offices in 13 states.

While the number and size of RIA mergers and acquisitions stayed relatively constant last year, the players shifted sharply, according to a new report released Monday by Schwab Advisor Services.

Aspiriant, the industry’s third largest RIA, promoted Michael Kossman, the firm’s chief finance officer, to chief operating officer and hired Bret Magpiong as CFO.

The RIA market continues to grow, but it wound up in second place last year.

This year, Duran said the company plans to aggressively expand its business model, and its brand -- aiming to look more like Starbucks and less like rivals HighTower and Dynasty Financial.

As the RIA industry grows and reshapes itself, advisors need to keep an eye on the shifting competitive landscape. In our annual RIA Leaders report, in addition to identifying the top 50 firms by AUM and by growth, Financial Planning ran the numbers to find 50 emerging fee-only RIA firms to watch.

Zero Alpha Group, an alliance of independent advisory firms, is zeroing in on the next generation of members’ prospective leaders. The group has formed the Zero Leadership Institute, hoping for positive results.

Changes in the independent advisory industry, shifting demographics and advances in technology make the ability to communicate your value critical to your success, according to Tom Nally, president of TD Ameritrade Institutional.

Continuing its rapid expansion, CapTrust Financial Advisors, a large Raleigh, S.C. registered that serves private and institutional investors, acquired Freedom One Financial Group. Freedom One provides retirement plan and investment advisory services to companies in emerging markets.

Advisors continue to flock to the RIA business model, making it the fastest-growing corner of the financial services industry. However, even as they do, more than ever are hanging onto commission income, despite the risks it poses to acting as full fiduciaries.