Tiburon CEO Summit XXII
Advertisement for Tiburon CEO Summit XXII announces award recipients David Booth & Al West, and guest speakers Mike Alfred, Tony Batman, Tom Bradley, Chris Blunt, Mitch Caplan, Scott Powers, & Elliot Weissbluth.

Raymond James to Sell 10.5 Million Shares
The bulk of he offering should be used to buy Morgan Keegan. Article quotes Tiburon saying that debt was cheap but Raymond James stock price was near its 52 week high, so the decision is understandable.

Raymond James Launches a Separate RIA Unit and Appoints a Former Merrill Lynch Breakaway to Head it
Calling the RIA business, a strategic imperitive, Chet Helck is making Bill Van Law the founding president of the RJ investment advisors division. Article quotes Tiburon saying that Raymond James is likely to evolve to look more like a custodian.

LPL-Axa Extend Clearing Deal
The independent broker/dealer retains a key client in the custom clearing space. Article quotes Tiburon saying that this suggests that LPL can satisfy institutional clients

Tom Nally to Take the Reins of TD Ameritrade RIA Business from Tom Bradley
Tom Bradley will become president of retail distribution, setting himself up as a potential successor to Fred Tomczyk in the CEO role. Article quotes Tiburon saying that Bradley's move is a natural step in human resources to round out his knowledge base.

Raymond James Rising
New RJA President Tash Elwyn takes the helm and Morgan Keegan advisors sweep in Article quotes Tiburon saying that in the Morgan Keegan acquisition, complicated organizational structures have a way of working themselves out.

Focus Financial Gains Access to Huge Money -- $320 Million Credit
The capital hoard positions the big aggregator to double its advised assets, one observer says. Article quotes Tiburon saying that this could allow Focus to buy $44 billion of assets.

The Practice: How to Sell Out
Succession planning takes time. Article quotes Tiburon saying theta financial advisor with a television show can use the resulting leads to create a succession plan by adding junior advisors to work those leads.

Merrill Lynch Boosts Asset Minimum
Merrill Lynch is raising its minimum asset level for client households to $250,000 from $100,000 this year. Article quotes Tiburon saying that this is a loud message of the firm's values.

Raymond James to Purchase Morgan Keegan from Regions
Saint Petersburg, FL based Raymond James Financial said on January 11 that it would buy Memphis based Morgan Keegan form Regions Financial in a $930 million stock transaction. Article quotes Tiburon saying that Raymond James was a natural buyer of Morgan Keegan.

Raymond James' Retention Deal May Help it Keep Morgan Keegan Reps
The $300,000 production level for awards should prove advantageous to Raymond James, recruiters and others explain. Article quotes Tiburon saying that Morgan Keegan likely had numerous reps with $300,000-$500,000 production that Raymond James desired to keep.

Wells Grabs Seven From UBS, Morgan Stanley
The new advisors, including one joining its FiNet unit, have about $5.8 million in yearly fees and commissions and about $730 million in total assets.  Article quotes Tiburon research saying that one or mroe wirehouses will enter the independent rep market in 2012.

Advisors Misclassify as Planners; Clients Do Not Know the Difference
A majority of advisors are marketing themselves as financial planners even though they really do not provide comprehensive planning services.  Article quotes Tiburon saying that many financial advisors provide investment, but not financial, planning services.

Wirehouse Push Into Indie-BD Space Could Follow Wells' Model
But making a semi-independent or fully independent channel work within the wirehouse world is no easy feat, experts say. Article summarizes findings of recently released Tiburon research regarding the independent broker/dealer market.

Bold Prediction: Wirehouse Entry into Independent Space
Tiburon Strategic Advisors expects the big firms to create a space for breakaway brokers; recruiter Elzweig disagrees. Article summarizes findings of recently released Tiburon research regarding the independent broker/dealer market.

Wirehouses will Create their Own Independent Models, Tiburon Report Says
As you read this article, you will see that there are strong arguments to be made both ways about whether Merrill Lynch, UBS, and Morgan Stanley will offer quasi-independent model. Article summarizes findings of recently releases Tiburon research.

Stifel's Growth Won't Slow Down despite Morgan Keegan Miss
With Stifel Financial Corporation's bid to buy Morgan Keegan coming up short last week, the Saint Louis-based investment banking and financial advisory firm will find slimmer pickings, thanks to years of consolidation in the industry.  Article quotes Tiburon saying that there are few remaining acquisition candidates.

A $2.6 Billion Schwab RIA Grapples with Gaining a $420 Million Securities America Rep Firm and a Big Footprint
The Wipfli-Eide Bailly accounting merger doubles Hewins Financial Advisors' opportunity to convert CPA client funds to AUM.  Article quotes Tiburon saying that this doubles Hewins' opportunities for cross-sales into CPA firm clients.

Raymond James to Buy Morgan Keegan for $930 Million
The final purchase price is tied to the retention of advisors, while the overall deal includes special provisions for legal issues and costs.  Article quotes Tiburon saying that Raymond James was a natural buyer for Morgan Keegan.

What the Cetera-Genworth IBD Deal Says About Where these Companies are Headed
Cetera starts looking more like an IPO candidate and Genworth shucks distraction from its asset magnet TAMP.  Article quotes Tiburon saying that the transaction made sense for both sides.

2012 Forecast: Let's Make an RIA Deal
Expect 2012 to be an especially active year for consolidation among registered investment advisory firms and outside service providers.  Article quotes Tiburon saying that RIAs run mroe sophisticated businesses than independent reps.

BofA Boosts Merrill Client Minimum, Earns Expert's Kudos
The move to raise the account minimum to $250,000 comes as bank of America seeks further ways of increasing profits for its HNW operations.  Article quotes Tiburon saying that lower payouts for smaller accounts is a well founded strategy.

True Cost of Tactical Management
As advisors abandon buy and hold strategies, they must analyze data and make predictions. Article quotes Tiburon saying that independent RIAs now manage about $2.0 trillion.

The Largest RIAs Race to Scale
There is strength in numbers and practices across the country are banking on size to position themselves for success.  Article quotes Tiburon saying that the RIA market should grow about 12% in 2012.

LPL Makes Big Advance into the RIA Business with Fortigent Acquisition
The kingpin of product-based mass affluent advice now has a major beachhead with high net worth investors.  Article quotes Tiburon saying that the crux is LPL's desired move into the RIA market.

LPL Financial to Acquire Alternative Investment Firm
Acquisition will expand LPL Financial's presence in RIA and high net worth markets.  Article quotes Tiburon saying that this is an effort by LPL to expand its channels.

McCann is Top UBS Americas Exec
UBS recently made Bob McCann head of UBS' operations in the Americas.  Article quotes Tiburon saying that this a loud signal of UBS' dedication to its US brokerage business and to wealth management as its leading business worldwide.

LPL's Acquisition of Fortigent Provides Stronger Foothold in RIA, HNW Market
LPL Financial has announced plans to acquire Rockville, MD based wealth management platform provider Fortigent.  Article quotes Tiburon saying that the crux is LPL's desired move into the RIA market.

Stat Bank
$90,000... The amount of expenses per employe for the average fee-based financial advisor.  Article quotes Tiburon research.

McCann is Top UBS Americas Exec
UBS recently made Bob McCann head of UBS' operations in the Americas and reassigned Philip Lofts to the post of chief risk officer for the Swiss-based firm.  Article quotes Tiburon saying that this is a signal of UBS' dedication to its US brokerage business.