Custodian Wars (City Wire Magazine)

“In the battle of the custodians, Fidelity and Pershing are top contenders. Which firm has more pulling power?” Click here to read why President Jeffrey Fuhrman and Coastal Bridge Advisors have chosen Bank of New York Pershing as its custodian.

Read More >

Bloomberg “The Muni-Market’s Terrible, Horrible, No Good, Very Bad Year”

This year is turning out to be one many in the municipal-bond world would rather forget.  Thanks to a federal tax-overhaul that caused a rush to borrow last year and curbed governments’ ability to refinance debt, new bond sales have shrunk by 20 percent, cutting deeply into underwriting fees. Trading is down. Demand has dropped …

Read More >

Department of Labor Proposed Fiduciary Regulations

A letter from Founding Partner, Jim Pratt-Heaney regarding the proposed changes by the United States Department of Labor and their impact on Coastal Bridge Advisors The Department of Labor has announced that the implementation of the new Fiduciary Rule, which expands the “investment adviser fiduciary” definition under ERISA and places additional restrictions on the provision of …

Read More >

The Suit Magazine: The World of Financial Advice Undergoing Change

An Interview with Jeff Fuhrman, President, Coastal Bridge Advisors ~ Raising the Standard of Care ~ Regulatory responses to great financial crises vary in their intensity, focus and effectiveness. The Investment Advisers Act of 1940 was ushered in eleven years after the Great Depression and helped define the roles and responsibilities of the financial advisor …

Read More >

“Will Midstream Master Limited Partnerships Take a Hit?”

MLPs focused on oil and gas processing, transport and storage have rewarded investors, but low energy prices could shrink distributions. Midstream companies don’t explore or drill for oil and natural gas; they process, transport and store the extracted commodities. Their business results are often tied contractually to the volume they transport, rather than oil and …

Read More >

Wirehouses in decline as advisers seek independence

Some of the original buzz stemmed from turmoil at the big companies after 2008, with Smith Barney being sold to Morgan Stanley and Merrill Lynch to Bank of America. That made breaking away more compelling, says Jeff Fuhrman, chief operating officer at LLBH d/b/a Coastal Bridge Advisors, which is now affiliated with Focus Financial Partners, …

Read More >

Happy Financial Advisors Need More Than Money: Study

Advisors who are unhappy with their pay have a reason to leave their employer. Yet even advisors who earn enough money might walk out if they dislike their work environment. Contrary to what many managers tell themselves, this isn’t always about a “poor fit.” Firms that satisfy advisors on both pay and work environment are …

Read More >

Stop Sweating Revenue, and Prioritize Profits

Growing firms often prioritize the top line in the form of asset accumulation. This does lead to revenue growth and is an easy measure of success. But AUM-driven revenue paints an incomplete picture, experts say, since growing an advice practice requires investing in infrastructure. Firms that instead make profitability the priority take steps that best …

Read More >