RIAs

With RIA balance sheets healthier, banks once again are taking an interest in RIAs, which are growing as much as 50% more rapidly than wirehouses.

“[A] segment of wealth managers appear to live in denial, clinging to investment methodologies that have patently failed twice over the past decade and are likely to fall short again,” the authors of a white paper accompanying the survey results wrote.

“We always have an opinion,” said James Odorczuk. “That’s what clients want. You can’t just ‘set it and forget it.’ A lot of clients are unhappy with a passive investment style.”

The New York City based wealth advisory firm appointed Lyle LaMothe as Non-Executive Chairman of the board and Greg Franks as a managing partner and president. Chris Lappas joined the firm as the chief operating officer.

Gathering the information needed to make a career move and hiding that research from a current firm can be enough to make some advisors decide to forget it. That’s just where The Advisor Center, an anonymous online recruiting community that launches Monday, comes into play.

“What we ... know is that there are a lot of advisors who think their entire value is wrapped around they’re delivering advice to clients and telling them how it’s going to work out,," Joe Duran, the CEO of United Capital said. "But the reality is that we don’t believe that’s the future."

Snowden Capital Advisors has added two advisor teams, the DiCiaccio Group and the LaMothe-Gonzalez Group.

Symmetry Partners, a registered investment advisory based in Glastonbury, Conn., announced the release of a new mobile application for its financial advisor clients on Tuesday.

To help its advisors grow their businesses, Cetera Financial Group is bringing on a fleet of new advisory and product sales consultants. The added manpower is intended to give each consultant and sales manager more time to provide in-person and virtual support to advisors as the firm re-engineers its advisor support regions, according to Cetera.

Securities and advisory firm, Multi-Financial Securities Corporation, announced today the signing of two new advisors, Dave Strunc and Nicholas Russell, founders of Sunrise Wealth Advisors, an Orlando, FL, based advisory firm.