Halite In The News

19 Jan 2018
19 Jan 2018

As Big Firms Exit Broker Pact, Investors Are Uneasy

The New York Times | Paul Sullivan

Phil Shaffer, founder and CEO, offers his thoughts on a wealth management industry hot topic called broker protocol, or an agreement that established rules for broker recruitment “Firms leaving the broker protocol is very, very bad for clients,” said Phil Shaffer, the founder and chief executive of Halite Partners, an investment management firm, who left Morgan Stanley last year after 24 years “As one who has tried to build my career on ‘client first,’ I believe that needs to be shouted from the mountaintops”  Mr Shaffer...

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02 Jan 2018
02 Jan 2018

RIAS MUST MOVE BEYOND INVESTMENTS TO JUSTIFY FEES

InvestmentNews | Jeff Benjamin

Phil Shaffer, founder and CEO, offers his thoughts about financial advisors’ high fees and lack of transparency As Mr Shaffer sees it, because advisers are increasingly outsourcing investment management it puts more pressure on them to justify their fees through services  "I scratch my head when I hear that because about half the people working with financial advisers don't have a written financial plan," he said "In many cases, clients are getting very pedestrian investment advice and they're not getting the service they need So, if...

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15 Dec 2017
15 Dec 2017

BROKER PROTOCOL HELPED EX-MORGAN STANLEY ADVISOR TAKE $1B IN CLIENT ASSETS TO NEW FIRM

Financial Advisor IQ | Rita Raagas De Ramos

Financial Advisor IQ featured Halite in a story about a wealth management industry hot topic called broker protocol, or an agreement that established rules for broker recruitment “You’ll have a client who has a trusted advisor that they can’t talk to, and they’re handed some other advisor that they don’t know That’s a big deal That’s violating the client trust,” he says “Clients are not happy when they are viewed as possessions of the firm” It also subjects the client to potential losses, he adds “If the markets...

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09 Dec 2017
09 Dec 2017

WHY PRIVATE EQUITY WANTS A PIECE OF THE RIA MARKET

InvestmentNews | Jeff Benjamin

Phil Shaffer, Founder and CEO, offers his thoughts about why the independent financial advisory space is the hottest growth-investment strategy for private investors Phil Shaffer, an adviser who left Morgan Stanley earlier this year to launch Halite Partners, said he was getting solicitations from private equity investors even before he had any money under management  "We are at an inflection point with private equity looking at the RIA space," he said Read the article...

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24 Oct 2017
24 Oct 2017

Disrupting the Investment Industry Pricing Model

Phil Shaffer

A revolution has begun: consumers fed up with the high cost of cable TV are disconnecting, or “cord cutting,” in record numbers By the end of 2017, more than 22 million viewers age 18 and older are expected to ditch their traditional cable bundles, a 33% increase from 2016, according to eMarketer (1) These cord cutters have disrupted the cable industry, paying only for what they want to see, when they want to see it, through a growing array of à la carte video streaming services and video on demand Overpaying for Financial...

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