Archive for November, 2014

Supporting a new voice for independent advisers @NewsfromIN @masonbraswell

Monday, November 17th, 2014

InvestmentNews reports that @TonyRobbins, the self-help guru nicknamed the ‘mahatma of motivation,’ is taking his toothy smile and his message of self-empowerment to financial services, where he hopes to be the face of the registered investment adviser business.

Mr. Robbins’ entry into the investment adviser world has been accelerated with the backing of a number of well-known names in the industry. They include Brian Hamburger @HDelux of MarketCounsel, which counsels breakaways starting their own investment adviser firms, and Elliot Weissbluth, who founded HighTower in 2008 and wrote the forward for Mr. Robbins’ book.

“There’s not a spokesperson for guys that are doing it the right way,” Mr. Hamburger said. “That position has been open for some time now, and [I have come to believe that] it cannot be held by someone who is in the industry.”

Mr. Hamburger knew Mr. Robbins as a client before he saw what Mr. Robbins could bring to the RIA industry.  “I couldn’t help but be swept up by the excitement and exuberance, and fresh energy that he can bring to this space,” Mr. Hamburger said. “And he’s really coming in as an amazing champion of the concept of the fiduciary standard, where the investor really deserves to have someone who is looking out primarily or solely in their best interests.”

Mr. Robbins will be opening The MarketCounsel Summit 2014 #MSUM14 on December 8 at the Four Seasons Hotel Las Vegas.

Read more.

Supporting a new voice for independent advisers @NewsfromIN @masonbraswell

Monday, November 17th, 2014

InvestmentNews reports that @TonyRobbins, the self-help guru nicknamed the ‘mahatma of motivation,’ is taking his toothy smile and his message of self-empowerment to financial services, where he hopes to be the face of the registered investment adviser business.

Mr. Robbins’ entry into the investment adviser world has been accelerated with the backing of a number of well-known names in the industry. They include Brian Hamburger @HDelux of MarketCounsel, which counsels breakaways starting their own investment adviser firms, and Elliot Weissbluth, who founded HighTower in 2008 and wrote the forward for Mr. Robbins’ book.

“There’s not a spokesperson for guys that are doing it the right way,” Mr. Hamburger said. “That position has been open for some time now, and [I have come to believe that] it cannot be held by someone who is in the industry.”

Mr. Hamburger knew Mr. Robbins as a client before he saw what Mr. Robbins could bring to the RIA industry.  “I couldn’t help but be swept up by the excitement and exuberance, and fresh energy that he can bring to this space,” Mr. Hamburger said. “And he’s really coming in as an amazing champion of the concept of the fiduciary standard, where the investor really deserves to have someone who is looking out primarily or solely in their best interests.”

Mr. Robbins will be opening The MarketCounsel Summit 2014 #MSUM14 on December 8 at the Four Seasons Hotel Las Vegas.

Read more.

Supporting a new voice for independent advisers @NewsfromIN @masonbraswell

Monday, November 17th, 2014

InvestmentNews reports that @TonyRobbins, the self-help guru nicknamed the ‘mahatma of motivation,’ is taking his toothy smile and his message of self-empowerment to financial services, where he hopes to be the face of the registered investment adviser business.

Mr. Robbins’ entry into the investment adviser world has been accelerated with the backing of a number of well-known names in the industry. They include Brian Hamburger @HDelux of MarketCounsel, which counsels breakaways starting their own investment adviser firms, and Elliot Weissbluth, who founded HighTower in 2008 and wrote the forward for Mr. Robbins’ book.

“There’s not a spokesperson for guys that are doing it the right way,” Mr. Hamburger said. “That position has been open for some time now, and [I have come to believe that] it cannot be held by someone who is in the industry.”

Mr. Hamburger knew Mr. Robbins as a client before he saw what Mr. Robbins could bring to the RIA industry.  “I couldn’t help but be swept up by the excitement and exuberance, and fresh energy that he can bring to this space,” Mr. Hamburger said. “And he’s really coming in as an amazing champion of the concept of the fiduciary standard, where the investor really deserves to have someone who is looking out primarily or solely in their best interests.”

Mr. Robbins will be opening The MarketCounsel Summit 2014 #MSUM14 on December 8 at the Four Seasons Hotel Las Vegas.

Read more.

Financial Times: MarketCounsel Adds @TonyRobbins to Its Celebrity Lineup, says @FinAd_IQ

Thursday, November 13th, 2014

As if the star power at the upcoming MarketCounsel Summit in Las Vegas weren’t already bright enough, Tony Robbins will headline the event. There’s no telling whether America’s favorite motivational speaker will say anything that helps advisors do their jobs better, but his brand is an inspired addition to a roster that’s sure to drum up interest industrywide.

MarketCounsel, an Englewood, N.J.-based consultancy that helps indie advisors launch and grow RIAs, announced Robbins’ participation, in a press release Nov. 12. Brian Hamburger, the firm’s CEO, said in the release Robbins believes “that every investor deserves access to fiduciary advice.”

So maybe he’ll try to inspire the 500 advisors scheduled to attend to live up to that ideal. Or maybe Robbins will tout his new book, Money: Master the Game — 7 Simple Steps to Financial Freedom. The book contains interviews with Warren Buffett, Carl Icahn, Charles Scwhab and Jack Bogle, according to the press release and the book’s website.

In some ways, advisors act as motivational speakers with clients when pushing them to make prudent wealth decisions. So Robbins could be at least as appropriate a headliner as any of the other top names set to appear at the Dec. 8-11 event.

It’s a bit mysterious why billionaire investor Mark Cuban, former New York governor Eliot Spitzer, former SEC chairman Christopher Cox, and former Bank of America and Citigroup wealth-management boss Sallie Krawcheck all accepted Hamburger’s invitation. And what exactly any of these people except Krawcheck knows about the daily lives of growth-oriented financial advisors remains open to debate.

Then again, the event also boasts loads of RIA-related leaders scheduled to talk shop. Advisors in attendance probably should pay more attention to those sessions — if, that is, they can pull themselves away from a bona fide celebrity like Tony Robbins.

Read more.

Tony Robbins to Open #MSUM14

Wednesday, November 12th, 2014

Apparently Fortune Magazine’s “CEO Whisperer” has a lot to say to independent RIAs.  World-renowned entrepreneur, peak performance strategist, and motivational speaker, Tony Robbins, will be joining The MarketCounsel Summit 2014 to kickoff its opening night.  With the imminent release of his book, Tony joins independent investment advisers in their call that everyday Americans deserve better financial advice.  Tony Robbins will address a full house on Monday evening, December 8.

As the date fast approaches, the Four Seasons Hotel Las Vegas will be the epicenter of the independent adviser movement from December 8-11.  This is your last chance to register for the capstone industry event of the year.  Along with Tony Robbins, Mark Cuban, Sallie Krawcheck, Christopher Cox, Harvey Pitt, Eliot Spitzer, and Ron Insana, a veritable who’s who of independent adviser industry influencers and game changers are confirmed to join the MSUM14 dialogue.

Read more.

Awesome! @tonyrobbins to Open at @MarketCounsel’s #MSUM14

Wednesday, November 12th, 2014

Entrepreneur, author & peak performance strategist will address independent investment advisers on December 8th, 2014 in Las Vegas

Englewood, NJ – Nov. 12th, 2014 – Last week, MarketCounsel (www.marketcounsel.com), the leading business and regulatory compliance consultant for independent investment advisers and those considering independence, announced the final speakers and faculty for MarketCounsel Summit 2014.  But today, MarketCounsel announces the addition of world-renowned life and business strategist Tony Robbins to the agenda for MarketCounsel Summit 2014. Just weeks after the release of his new book, “Money: Master the Game: 7 Simple Steps to Financial Freedom,” Tony will speak to 500 of the country’s preeminent independent investment advisers on opening night of the annual MarketCounsel event.

“Tony is a powerful force for change, a champion of entrepreneurs, and an ardent believer that every investor deserves access to fiduciary advice,” said Brian Hamburger, MarketCounsel’s founder, president and CEO. “His passion for empowering people to achieve financial freedom is inspiring, and we’re honored to have him joining us for the MarketCounsel Summit.”

As reported in a recent Fortune Magazine cover story, Tony’s latest book was “born out of a sense of moral outrage following the financial crisis of 2008.” Looking to deliver a higher standard of unbiased, actionable guidance to everyday investors, Tony embarked on a mission to democratize financial services. He leveraged his professional relationships to conduct interviews with the most successful figures in the investment community, including Carl Icahn, T. Boone Pickens, Charles Schwab, Ray Dalio and Jack Bogle.

“I am excited that someone who truly connects with everyday Americans finally ‘gets it’ and wants to drive positive change,” said Hamburger. “Tony’s book is a call to action for investors to take control of their own financial futures, and his principles and beliefs will resonate deeply with our audience of independent investment advisers.”

As one of the most sought-after speakers in the world, more than four million people from over 100 countries have attended Tony’s live seminars, speaking engagements or training programs. He is a recognized authority on the psychology of leadership, negotiation, organizational turnaround, and peak performance, and an award-winning speaker who has addressed such distinguished audiences as the British Parliament, Harvard Business School, Vice President Al Gore’s Putting Customers First Conference, and the World Economic Forum. In 2006, he was invited to speak at the prestigious Technology, Entertainment and Design (TED) Conference, attended by the world’s most influential thinkers and leaders. His speech remains one of the top ten most viewed in the history of TED, with more than twelve million views.

Following Tony’s remarks on opening night, MarketCounsel will feature “Early Riser” Workshops on each day of the conference:

  • David Canter, executive vice president at Fidelity Institutional Wealth Services, will share provocative insights about how the industry and the demographics of investors are changing and how the successful advisory firms are innovating to step up to the opportunity.
  • Brinker Capital’s Phil Green and Live Oak Bank’s Steve Smits will participate in a discussion entitled “Capital Options Fuel Your Growth,” moderated by Paul Lally, president of Gladstone Associates.
  • Orion Adviser Services’ director of design, Jud Mackrill and CEO and co-founder of Riskalyze, Aaron Klein will deliver a stirring Summit-capping presentation on how integrated technology can enable traditional advisers to build and maintain a sustainable competitive advantage over online-only ‘robo advisers.’

More details about The MarketCounsel Summit including agenda details, attendee registration, sponsorship opportunities, and speaker nominations are available at www.mcsummit.com. Registration is limited and the event is, once again, expected to be at capacity. Those planning on attending are encouraged to secure registration immediately.

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For media inquiries or to obtain press credentials for the Summit, please contact Jason Lahita at (310)575-2509 or jason.lahita@ficommpartners.com.

For press inquiries for Tony Robbins, please contact Jennifer Connelly at (917) 757-7662 or jconnelly@jcprinc.com.

 

About MarketCounsel

MarketCounsel is the leading business and regulatory consultancy to some of the country’s preeminent independent investment advisers throughout their lifecycle. From its roots in 2000, MarketCounsel has been steadfast in its mission to deliver solutions to the challenges faced by entrepreneurs in a fast growing industry and has emerged as one of its most effective advocates.

From the initial launch of an investment adviser to its outsourced compliance platform to its business growth and succession strategies, MarketCounsel consistently delivers extraordinary service and trusted counsel by leveraging advanced technology and sound business processes. The MarketCounsel Summit is the annual gathering for the country’s top independent investment advisers and serves as both spark and catalyst for conversation among industry leaders.

Offering 360° of RIA knowledge, advice and guidance, MarketCounsel is the most trusted partner throughout the lifecycle of an independent adviser and works with these business owners at all stages.  MarketCounsel provides true end-to-end business solutions for advisors, from start-up through exit. Visit www.marketcounsel.comfor more information.

 

About The MarketCounsel Foundation

The MarketCounsel Foundation supports the independent investment adviser movement through research, advocacy, and awareness; a direct supporter of innovative financial education; and leading an effort to provide support, mentoring, and placement to would-be entrepreneurs. Visit www.marketcounsel.org for more information.

 

About The MarketCounsel Summit

Investment advisers face an evolving landscape of challenges in protecting their practice while in pursuit of the limitless opportunities in growing their business.  The Summit is designed by a team that admittedly rebuts the usual lecture-based, “talk at you” conferences.  Instead, the Summit’s objective is to create an incomparable forum for advisers to engage and interact among industry leaders to develop a sound strategy for addressing challenges while forming actionable plans for taking advantage of opportunities.

Already hailed by the financial press historically as one of the few “elite conferences” in the industry, the Summit features general sessions and interactive workshops that run morning ‘til night, over three days in the desert.  The agenda is stacked with well-orchestrated extracurricular events that provide for unmatched opportunities to ‘continue the conversation’ among advisors, speakers and the industry’s top service providers, including a can’t-miss opening reception and a live auction to benefit the MarketCounsel Foundation. Visit www.mcsummit.com for more information.

Mary Jo White Giving Insight Into Fiduciary Position… Soon

Tuesday, November 11th, 2014

SEC Chairman Mary Jo White said that she would provide more “clarity” regarding her position on a fiduciary standard of care for broker-dealers.  Articles in ThinkAdvisor and InvestmentNews covered Chairman White’s speech at a SIFMA event.  Chairman White said that a uniform fiduciary rule is “something I think is enormously important.”  When asked why it has taken so long for the Commission to make a decision regarding a rule, Chairman White responded that there are “very diverse views” at the Commission.  Tellingly, she added that “care needs to be taken to ensure we’re not harming investors by driving away service providers in the brokerage space.”

SIFMA President and chief executive Kenneth E. Bentsen Jr. said that SIFMA thinks “there should be a uniform standard,” but, “we think you can do it under both the 34 Act and the 40 Act. You can do it in parallel rulemaking.”  Most investment adviser advocates believe this would water down the fiduciary standard in the Investment Advisers Act, while the Dodd-Frank Act specifically referenced a fiduciary duty at least as stringent as that in the Advisers Act.

The assumption has been that Commissioners Gallagher and Piwowar have been in opposition of extending a fiduciary standard of care on broker-dealers, while Chairman White would be a tiebreaker.  Commissioner Piwowar has, however, made some comments recently that may show he is being swayed to at least consider a rule.

While not as on point as the harmonization of the fiduciary duty on broker-dealers, it is worth noting that SIFMA continues to aggressively fight the DOL’s changes to “fiduciary” which are due in January.  At SIFMA’s conference, former SIFMA chairman Jim Rosenthal said that the organization has to become even more active in stopping the definition change.

Hamburger shares his 2015 breakaway broker forecast with @NewsfromIN

Friday, November 7th, 2014

Read more.

Hamburger shares his 2015 breakaway broker forecast with @InvNews

Friday, November 7th, 2014

Read more.

@mcuban and Christopher Cox to Debate the Future of the SEC at #MSUM14; @CNBC’s @MelissaLeeCNBC to Moderate

Monday, November 3rd, 2014

  • Famed entrepreneur Mark Cuban and former SEC Chairman, Christopher Cox will take the stage together, imparting lessons learned through their own experiences and perspectives with the SEC.
  • CNBC anchor Melissa Lee, host of “Fast Money”, will moderate the discussion.
  • Final round of investment advisor industry faculty and sessions also announced.

Englewood, NJ – Nov. 3rd, 2014 – MarketCounsel (www.marketcounsel.com), the leading business and regulatory compliance consultancy for independent investment advisers and those considering independence, confirmed rumors and speculation about the main event of its annual MarketCounsel Summit today, announcing that Mark Cuban and Christopher Cox will be paired up on stage in a debate style format on Tuesday, Dec. 9th in Las Vegas. The matchup will be moderated by veteran CNBC anchor and journalist Melissa Lee, host of “Fast Money”.

The MarketCounsel Summit (The “Summit”) has, over its 7 years, become the most significant gathering of the country’s preeminent independent investment advisers, their trusted service providers, and financial industry press.  This year, over 500 of the industry’s leaders will convene at the Four Seasons Hotel Las Vegas to be part of this seminal event in the fastest growing sector in financial services.  The event’s focus is assessing the diverse and expanding array of options within the scope of independence in the securities industry, all through the lens of an entrepreneur navigating a highly-charged regulatory environment.

This year’s headline event will feature a heavyweight face-to-face between two men who have an interesting history with one another – Mark Cuban, once the target of a highly-publicized SEC investigation and charges of insider trading, and Christopher Cox, the man at the helm of the SEC when the enforcement action was brought to bear.  In an open debate in front of a room of independent advisers who, themselves are regulated by the SEC, Cuban and Cox will candidly discuss ideas about what the SEC can do to “get its house in order” – albeit from two very different perspectives.

Mr. Cuban found himself as the target of an SEC insider trading investigation, but after reportedly spending $12 million in the face of a $2 million settlement offer by the SEC, defeated the SEC both initially and on appeal.  Cuban emerged victorious, resolved to influence reform of the country’s top regulator.  Mr. Cuban is an outspoken advocate for entrepreneurs, critic of the SEC, and promises to lend a fresh perspective to an audience comprised of the nation’s top entrepreneurial advisors.

Christopher Cox is a former Chairman of the U.S. Securities and Exchange Commission, a 17-year Republican member of the U.S. House of Representatives, and member of the White House staff in the Reagan Administration. Prior to his Washington service he was a practicing attorney, teacher, and entrepreneur. During his tenure at the SEC, Cox was aggressive about improving disclosures.  This led to the SEC’s initiative to improve executive compensation rules and disclosures, as well as the major overhaul to Form ADV that required plain English disclosures which was proposed under his watch in 2008.

Cox’s chairmanship also spanned through the beginning of the 2008 financial crisis.  Cox was at the helm during one of the most turbulent times in the country’s financial history, which included the subprime mortgage crisis, the collapse of Bear Stearns and Lehman Brothers, and the Ponzi-scheme confession of Bernie Madoff.

The dialogue will be channeled by Melissa Lee, host of CNBC’s “Fast Money” (M-Th, 5PM-6PM ET; F, 5PM-5:30PM ET), which is broadcast from the Nasdaq’s MarketSite studio in New York’s Times Square.  Lee has also reported one-hour documentaries for the network. The recipient of awards and Emmy nominations, Lee graduated with honors from Harvard College and served as Assistant Managing Editor of the Harvard Crimson.

“The Summit is honored to host an open and honest conversation between two men who have unique perspectives on what’s not working at the SEC,” said Brian Hamburger, MarketCounsel’s founder, president and CEO.  “And having a journalist of Melissa’s caliber to manage the flow adds an exciting dimension. We are thrilled to bring this candid conversation to our audience and, perhaps, some actionable takeaways will emerge for the SEC.”

In addition to the debate among Cuban and Cox, additional industry faculty and sessions have been announced.  Addepar’s CEO, Eric Poirier ducks out of Silicon Valley to join fellow futurists in a session addressing the current technology disruption.  Mindy Diamond, CEO of Diamond Consultants, has been tapped to interview Sallie Krawcheck about the sleeping dragon that is the wirehouses. And Megan Carpenter, managing partner of FiComm Partners, joins to moderate a panel comprised of editors from leading media outlets.

Completing its curriculum, MarketCounsel announces a final session on getting deals done, the Hamburger Law Firm’s Corey Kupfer will sit down with co-founder and managing director of Focus Financial Partners, Lenny Chang; managing partner of Silver Lane Advisors, Liz Nezvold; and managing partner of Echelon Partners, Dan Seivert, to discuss the levers available and mindset required to bring deals to fruition.  Whether it’s inorganic growth, implementation of a succession, a business combination, or an outright purchase or sale, they all present challenges that these panelists have overcome.

“When you have this much entrepreneurial firepower in one place, it’s not hard to imagine that something very powerful and inspiring will happen,” concluded Hamburger.

More details about The MarketCounsel Summit including agenda details, attendee registration, sponsorship opportunities, and speaker nominations are available at www.mcsummit.com.  Registration is limited and the event is, once again, expected to be at capacity.  Those planning on attending are encouraged to secure registration immediately.

#          #          #

For media inquiries or to obtain press credentials, please contact Jason Lahita at (310)575-2509 or jason.lahita@ficommpartners.com.

 

About MarketCounsel

MarketCounsel is the leading business and regulatory consultancy to some of the country’s preeminent independent investment advisers throughout their lifecycle. From its roots in 2000, MarketCounsel has been steadfast in its mission to deliver solutions to the challenges faced by entrepreneurs in a fast growing industry and has emerged as one of its most effective advocates.

From the initial launch of an investment adviser to its outsourced compliance platform to its business growth and succession strategies, MarketCounsel consistently delivers extraordinary service and trusted counsel by leveraging advanced technology and sound business processes. The MarketCounsel Summit is the annual gathering for the country’s top independent investment advisers and serves as both spark and catalyst for conversation among industry leaders.

Offering 360° of RIA knowledge, advice and guidance, MarketCounsel is the most trusted partner throughout the lifecycle of an independent adviser and works with these business owners at all stages.  MarketCounsel provides true end-to-end business solutions for advisors, from start-up through exit. Visit www.marketcounsel.comfor more information.

 

About The MarketCounsel Foundation

The MarketCounsel Foundation supports the independent investment adviser movement through research, advocacy, and awareness; a direct supporter of innovative financial education; and leading an effort to provide support, mentoring, and placement to would-be entrepreneurs. Visit www.marketcounsel.org for more information.

 

About The MarketCounsel Summit

Investment advisers face an evolving landscape of challenges in protecting their practice while in pursuit of the limitless opportunities in growing their business.  The Summit is designed by a team that admittedly rebuts the usual lecture-based, “talk at you” conferences.  Instead, the Summit’s objective is to create an incomparable forum for advisers to engage and interact among industry leaders to develop a sound strategy for addressing challenges while forming actionable plans for taking advantage of opportunities.

Already hailed by the financial press historically as one of the few “elite conferences” in the industry, the Summit features general sessions and interactive workshops that run morning ‘til night, over three days in the desert.  The agenda is stacked with well-orchestrated extracurricular events that provide for unmatched opportunities to ‘continue the conversation’ among advisors, speakers and the industry’s top service providers, including a can’t-miss opening reception and a live auction to benefit the MarketCounsel Foundation. Visit www.mcsummit.com for more information.