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Blogs by Bill Butterfield

November 17, 2014

In what has become a continued theme in the U.S. brokerage industry, another firm announced it was shuttering its correspondent clearing division. J.P. Morgan, which inherited the legacy correspondent clearing business as part of the acquisition of Bear Stearns, has announced plans to exit the business. J.P. Morgan has partnered with Fidelity Investments' National Financial correspondent unit to transition existing clients over the next 12 to 18 months.

April 2, 2014

Morningstar's recent acquisition of data aggregation provider ByAllAccounts is significant not only in terms of Morningstar's evolution from a product provider to a solutions provider, but it also highlights the burgeoning importance of data aggregation technology in the wealth management industry as well as a further reduction in independently owned data aggregation providers.

January 27, 2014

Scarcely a week ago, the U.S. independent broker-dealer space witnessed one of the largest acquisitions in recent memory, culminating in RCS Capital's announced acquisition of Cetera's broker-dealer network. Since its inception in 2010, Cetera has acquired six separate broker-dealers (three from ING, one from Genworth, and two from MetLife). Separately, RCS Capital has been on an acquisition spree, with announced or completed acquisitions covering four broker-dealers (First Allied, Investors Capital, Summit Brokerage, and J.P.

Bill Butterfield is a senior analyst with Aite Group’s Wealth Management team, focused on retail clearing (both self-clearing and correspondent clearing), operations, financial advisor technology, and other topics across the independent broker-dealer and insurer-affiliated broker-dealer spectrum.