Ritholtz, Brown launch RIA

DEC 13, 2013
Barry Ritholtz and Josh Brown have launched their own independent investment advisory firm, the financial advisers said last week. The firm, which is known as Ritholtz Wealth Management, comprises five advisers who manage more than $100 million in assets. The executives declined to provide a specific figure. “This is an industry that is in desperate need of disruption,” said Mr. Ritholtz, chief investment officer and chairman. “Every time I hear a CEO talk about uncertainty or I hear about ... an industry that has fallen into disrepute, we see those things as opportunities.”

CRITICAL OF WALL STREET

Both Mr. Ritholtz and Mr. Brown, chief executive, have often been critical of Wall Street's ethical practices. They are authors and regular fixtures in the financial press, on television and social media. In recent years, both men have been affiliated with Fusion Analytics Investment Partners LLC, which emphasizes quantitative research in addition to advisory services, but Mr. Brown said that they decided to leave to focus more exclusively on working with clients. A spokesman for Fusion declined to comment but confirmed the departures.

TALENT SEARCH

Mr. Ritholtz said that he sees an encouraging market for advisers and will be looking for new talent to staff the new firm's ranks.

Latest News

Former Wells Fargo exec Brendan Krebs emerges at PNC
Former Wells Fargo exec Brendan Krebs emerges at PNC

The 25-year industry veteran previously in charge of the Wall Street bank's advisor recruitment efforts is now fulfilling a similar role at a rival firm.

Trio of advisors switch for 'Happier' times at LPL Financial
Trio of advisors switch for 'Happier' times at LPL Financial

Former Northwestern Mutual advisors join firm for independence.

Indie $8B RIA adds further leadership talent amid growth drive
Indie $8B RIA adds further leadership talent amid growth drive

Executives from LPL Financial, Cresset Partners hired for key roles.

Stock volatility remained low despite risk events
Stock volatility remained low despite risk events

Geopolitical tension has been managed well by the markets.

Fed minutes to provide signals on rate cuts
Fed minutes to provide signals on rate cuts

December cut is still a possiblity.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound