Independent-within-Smith Barney breaks away after hitting wall
Former Smith Barney peers light fuse for Swope independence
Fidelity
|Schwab
|Smith Barney
|LPL
|LLBH
|Focus Financial
|Morgan Stanley Smith Barney
|Swope
|Loftus
Related Moves
Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
February 17, 2023 at 2:49 AM
With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 at 2:02 AM
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
December 17, 2020 at 3:02 AM
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Tim Murray
Welcome to the independent RIA world! You’ll soon see it’s best for you and, more importantly, your clients.
Tim Murray, CFP
Murray Financial, Inc.
Pat
I used to be a Smith Barney Branch Manager. Congratulations on your successful move – I recently did same. it’s sad but SB is dead. You made the right move.
