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From the Current Issue

Regulation Update: The rise of RIAs — a shift away from FINRA

by AdvisorLaw

In recent years, a significant trend has emerged in the world of financial advising. An increasing number of financial advisers are making the bold decision to part ways with their FINRA (Financial Industry Regulatory Authority) member broker/dealer firms and, instead, opt to start or join a registered investment adviser (RIA). This transition has been fueled by several factors, including regulatory changes, the allure of independence, and the growing realization that the RIA model may offer a more client-centric approach to wealth management. In this article, we’ll delve into the reasons behind this shift, using data from the Investment Adviser Industry Snapshot 2023, and explore why financial advisers are choosing to embrace the RIA model.

From the Current Issue

Profile: Joan Solotar, global head of private wealth solutions at Blackstone

by Mike Consol

During one of a series of interviews Joan Solotar attended in pursuit of a position at Blackstone, firm co-founder and CEO Steve Schwarzman set a closed envelope in front of the applicant, instructing her to knock on the door when finished. After opening and reviewing the document, Solotar realized it was a draft of instructions for Blackstone’s upcoming “roadshow” — a series of meetings and presentations conducted by a company’s management team and underwriters to promote and generate interest in the organization’s initial public offering.

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