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MCF Wealth Management names president

FWR Staff

15 November 2005

New Merriman Curhan Ford unit takes two-prong approach to growth. William Banks has been named president of MCF Wealth Management, a subsidiary of San Francisco-based financial-service holding company MCF Corporation. He was previously head of sales and marketing for Advisor Software, Inc., a technology provider to registered investment advisors (RIAs) that’s better known as ASI.

“We have known Bill aggressively through both organic growth and acquisitions,” Curhan said earlier this year.

Hiring Banks to help MCF Wealth Management’s pull in independent advisors seems to make sense in view of his former role as a representative of a vendor to that space.

Until about two years ago MCF Corporation was known as RateXchange, a communications bandwidth exchange provider. It established a brokerage subsidiary called RTX Securities in 2002. That became Merriman Curhan Ford about a year later.

MCF Corporation says it views wealth management as a way to diversify its revenue streams, which have been dominated by brokerage and investment banking revenues. –FWR

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