RIAs

New M&A data from Schwab seems to suggest that the RIA space is not consolidating as fast as some have predicted it would – though the final analysis depends on how you define consolidation.

Columbus, Ohio-based Beacon Hill Fund Services announced their first customer for its new Advisors Investment Trust product. The product enables multiple unaffiliated registered investment advisors to co-exist in the same registered investment company.

The Seattle-based broker-dealer is winding down. Its legal entity will retain its liability and assets, and D.A. Davidson will not take on its bond inventory.

New York-based RIA firm HS Management Partners has hired Robert Gebhart as its new senior vice president and senior investment officer.

HSBC Global Asset Management has hired Damion J. Hendrickson as a senior vice president and head of RIA sales.

Two large RIA firms have launched their own apps in the Apple and Android store, putting them ahead of the field in the race to maintain contact with clients.

The proceeds will be used in areas that Jefferson National anticipates will translate into growth.

Fidelity Investments is now offering a free version of its WealthCentral customer relationship and portfolio management platform for the iPad.

Zephyr Associates, a financial analytics software provider to financial advisors, is seeing a steady increase in the percentage of RIA firms among its clients.

Among the 27.2% of IMCA members who are independent, 14.2% are RIAs, 7.7% are dually registered and almost 85% of IMCA advisors and consultant provide fee-only or fee-based advice.