October202011
LVW Advisors, which has about $4.9 billion in assets under
management, has become the latest independent firm to join
Dynasty’s adviser network.Dynasty President and Chief Executive Shirl Penney told
Reuters that the firm plans to have $10 billion in assets
within the network and 10 adviser teams on board by year-end.”I can say confidently that we’re on pace for both,” he
said. “Looking at the pipeline, we’re going to have a series of
large advisers join.”Dynasty currently has three adviser groups with more than
$1 billion in assets. Most of the company’s adviser teams are
headed by veteran advisers who spent years at the brokerage
arms of large banks. Dynasty is backed by a number of former
wirehouse executives, including the founders who were former
Citigroup executives.Rochester, New York-based LVW was started last week by
25-year industry veteran Lori Van Dusen, who spent the bulk of
her career working at Citi. Van Dusen had worked with Penney at
Citi Smith Barney.
3AM
LVW Advisors, which has about $4.9 billion in assets under
management, has become the latest independent firm to join
Dynasty’s adviser network.Dynasty President and Chief Executive Shirl Penney told
Reuters that the firm plans to have $10 billion in assets
within the network and 10 adviser teams on board by year-end.”I can say confidently that we’re on pace for both,” he
said. “Looking at the pipeline, we’re going to have a series of
large advisers join.”Dynasty currently has three adviser groups with more than
$1 billion in assets. Most of the company’s adviser teams are
headed by veteran advisers who spent years at the brokerage
arms of large banks. Dynasty is backed by a number of former
wirehouse executives, including the founders who were former
Citigroup executives.Rochester, New York-based LVW was started last week by
25-year industry veteran Lori Van Dusen, who spent the bulk of
her career working at Citi. Van Dusen had worked with Penney at
Citi Smith Barney.
October132011
By Janet McGurtyOct 13, (Reuters) - Independent oil producer Whiting
Petroleum Corp is awaiting state permission for
construction of crude pipeline to replace trucks as a means of
access to major crude markets for the growing amount of shale
oil from its North Dakota Bakken fields, a state regulator said
on Thursday.An administrative law judge will likely make his
recommendations about the permit to the North Dakota Public
Service commission by the end of the week, the regulator said.Construction of a more cost-effective seven-mile pipeline
to connect field gathering systems would speed delivery to the
pumping station the company is building in Belfield, North
Dakota.Whiting Petroleum, based in Denver, Colorado, said in a
presentation on its website it had proved reserves 37.2 million
barrels per day of oil equivalent in the Rocky Mountain region
in 2010.In late September, Whiting completed 11 wells in North
Dakota which tested at an average flow rate of 2.3 million
barrels of oil equivalent, the website said.The U.S. government estimates the Bakken Shale fields could
hould as much as 3.65 million barrels of oil equivalent and
could vault North Dakota alongside Texas as a top
oil-producting state.The pipeline would allow greater access for growing
production to three major crude markets for Bakken: Guernsey,
Wyoming, Clearbrook, Minnesota and Tesoro’s High Plains
Pipeline Company.The next scheduled meeting for the North Dakota Public
Service Commission is Oct. 26 but the commission may convene
earlier.”Whiting has said they want to start right away,” said the
regulator who asked not to be named.The project has not met with any public protest, and there
were no comments against against the project at Monday’s
meeting.A spokesman for Whiting was not immediately available for
comment.
