Articles published 10/2017
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Timing of Morgan Stanley's Broker Protocol withdrawal sends shocks through RIA legal and recruiting circles
October 31, 2017 at 3:08 AMHundreds of planned and in-process breakaways are reassessed after keeper of the list, Bressler, Amery, & Ross, sat on the change for a week but a silver lining is already emerging
Philip Palaveev writes the one RIA book worth reading this year
October 27, 2017 at 10:27 PMPassing down an RIA practice is barely easier than bequeathing a soul and he writes 'G2' accordingly
TD Ameritrade calms the RIA Twitter storm but not questions about the spreads on the ETFs replacing the super-liquid Vanguard and Core iShares
October 27, 2017 at 12:45 AMThe additional 60-day extension lets advisors breathe but even Wall Street analysts wonder just how far TD Ameritrade should go in inflaming 'consternation' of 'golden goose' RIAs
HighTower finds hundreds of millions to cash out itchy shareholders
October 25, 2017 at 3:59 PMThomas H. Lee Partners likes financial firms -- especially ones with big cash flow and potential for operational efficiencies
Guilty as charged, Howard Present retreats to no-harm, no-foul defense in sentencing phase
October 24, 2017 at 9:28 PMBack against the wall, the ex-F-Squared CEO hopes for leniency because 'no investors suffered losses' as SEC seeks $11-million disgorgement and $150K penalty
Marty Bicknell sells Tortoise stake for '$150 million' with cash already earmarked for four or five RIA purchases
October 23, 2017 at 10:08 PMMariner Holdings CEO banks tidy gain as he dumps his 67% stake in $20 billion-AUM Tortoise that had just $1.3 billion of AUM when he bought it
TD Ameritrade is 'gathering feedback' after Michael Kitces's blogged overture for RIA collective bargaining on wholesale ETF line-up shift
October 20, 2017 at 11:47 PMThe blogger and RIA platform owner offered three compromises and one request for a deadline extension but the RIA custodian is thus far having none of it
Why exactly E*Trade is paying $275 million cash for Trust Company of America
October 20, 2017 at 9:12 PMCEO Karl Roessner cites his firm's high demand for an RIA foothold in a low-supply market to counter RIAs and wirehouses preying on E*Trade's HNW investors
E*Trade enters RIA custody business by purchasing number five player
October 19, 2017 at 11:49 PMThe New York-based discount broker buys Trust Company of America with plans to rebrand it and invest heavily in its technology
TD Ameritrade angers RIAs who feel 'blindsided' after TD Ameritrade's actions prompt the departure of all Vanguard and some iShares ETFs from its NTF platform
October 18, 2017 at 9:45 PMThe Omaha-based broker's roll-out of new ETF platform also removes Morningstar as ETF-picker as new State Street ultra-cheap fund line-up gets the Vanguard/iShares spoils
US Bancorp venture uses $2.6-trillion running start in bid to become the supermarket-of-fund-supermarkets -- with analysts seeing threat to Pershing and other clearing giants
October 17, 2017 at 10:45 PMUsing DOL rule as spur, the Minneapolis bank conjoins with hundreds of small IBDs with tantalizing promise of placing them on the same footing as the biggest self-clearing firms
Wealth management consultant specializing in HNW clients joins Mercury Financial Group
October 17, 2017 at 7:20 PMAs Aaron Schumm's 401(k) startup gets $8 million the FolioDynamix founder loves Vestwell's odd juxtaposition to Fidelity
October 13, 2017 at 5:12 PMVestwell attracts second big FMR seed capital tranche by co-opting advisors to go where the Boston 401(k) king is most challenged -- very small plan sponsors
In calm after storm Raymond James showcases three RIA tipping points at RIA confab -- and two of them are good
October 12, 2017 at 8:57 PMThe St. Petersburg, Fla.-based broker-dealer took unabashed aim at the brokerage model as Tom Giacchetti warned RIAs about an SEC no longer content with firing warning shots
Caveats galore, Redtail attempts CRM revolution based on texting starting with 27,000 firms who use its software
October 11, 2017 at 7:30 PMCompliance experts and advisors throw down the gauntlet on CRM chat challenges but CEO/CTO Brian McLaughlin is unfazed
The 2017 FPA conference leans heavily on a Michael Kitces unimpressed with the group's 'silence' on the CFP Board
October 9, 2017 at 7:57 PMAlthough its theme was elusive, the Denver-based advocacy group and standard-setter drew 1,800 advisors to the Country-Western capital
'No BS' Mike Durbin leapfrogs up the Fidelity Investments ladder but can he serve RIAs, eMoney and Abby?
October 6, 2017 at 8:06 PMRIAs run out of superlatives for the eight-year exec's ability to 'get it' at both the intrapreneurial and entrepreneurial level as he ascends to president of $2.3-trillion Fidelity Institutional
HighTower hooks a 'rare' Miami catch of a JP Morgan Private Bank stripe at a crucial moment
October 5, 2017 at 11:23 PMAs sales chatter hits a fever pitch on the conference cocktail party circuit, the Chicago roll-up affiliates with a white shoe recruit and gains some needed business-as-usual credibility
eMoney -- with an immense Fidelity presence -- pulls out stops to debut RIA robo AMP, which shared buzz bandwidth with Envestnet M&A
October 4, 2017 at 9:10 PMThe Radnor, Pa.-based software firm drew 800 attendees with advisors knowing they'd get sun, fun and Mike Durbin thrown in for good measure
Exploding to near $24 billion* of assets under automation, Schwab creates robo-exec slot and fills it with ex-Betterment unit chief
October 3, 2017 at 7:58 PMCynthia Loh puts fresh face on Schwab Intelligent Portfolios and Schwab Intelligent Advisory as Betterment puts out a help wanted sign
Greg Friedman rallies RIAs at Junxure conference -- then news of Envestnet-FolioDynamix deal turns up the heat
October 2, 2017 at 9:00 PMThe $2-trillion platform consolidation stunned open architecture-minded CRM-users who suspect bundling's advantages may quickly turn to diminishing returns
