Articles published 5/2017
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Fidelity-owned VC pumps $10 million into Quovo, which staffs up and prepares for the big leagues
May 30, 2017 at 6:09 PMCEO Lowell Putnam plays on 'second-mover advantage' and gets raves from Steve Lockshin, Ron Carson and Marty Bicknell
Merrill Lynch's second act for RIA reinvention is revealed but may yield 'field day' for classic RIAs in the short term
May 26, 2017 at 7:04 PMThe wirehouse's mothballing of mega-bonuses, directed from Charlotte, removes giant impediment to poaching but may lay groundwork for nationwide, talent-nurturing virtual RIA
DOL fiduciary rule's upcoming September surprise'll send brokers memo-izing -- or else -- says Fred Reish in Nashville to a spellbound room
May 25, 2017 at 7:53 PMThe Drinker Biddle attorney's invariably even tone gained inflection as he spoke of how brokers can only invoke BICE exemptions to go off DOL script by zealous, proactive documentation
Alexander Acosta's DOL rule letter to WSJ contains double message and one long-term objective: 'Gut' it
May 23, 2017 at 7:29 PMLabor Secretary explains that flouting administrative rule is counterproductive but his comments to Wall Street Journal 'parrot' the brokerage lobby line, reassuring them that larger effort to kill the regulation is on track
Anthony Scaramucci admits Trump hire 'didn't materialize' amid 'rambling' series of confessions at SALT conference, press reports say
May 22, 2017 at 11:07 PMWith no job, no Trump appointment and a 'rabbit hole' factor, he got backhanded support from the hedge fund community in Las Vegas, according to Reuters and The New York Times
Addepar deal may salve big, lingering pain point for RIAs who use alternative investments
May 19, 2017 at 11:46 PMThe Mountain View, Calif. software firm bought AltX to help back-end operations catch up with front-end display
TradePMR is making RIAs sign a promise to succeed -- to good effect
May 18, 2017 at 11:47 PMThe low-profile Gainesville, Fla. custodian is using the inked compact to motivate, make hard conversations softer and make purges of the small and stagnant practices less frequent
Focus Financial's 'extraordinary' purchase of $16B-AUM SCS Capital and what Stone Point -- both buyer and seller in the deal -- may do to juice its investment
May 17, 2017 at 9:06 PMWith Stone Point CEO Charles Davis now calling the shots, the RIA roll-up tacks to UHNW-directed RIAs, perhaps for their positioning in selling insurance
How Joshua Pace seized his 'moment' to convince Mark Matson to shift $1-billion-plus of assets to his small RIA custodian after a 20-year tryout
May 15, 2017 at 8:47 PMMatson Money had RIA assets with Trust Company of America as far back as 1996 but its plan to go national made the $7.6 billion RIA see the deeper beauty in the smaller player
Wealthfront nixes Apex Clearing and explains it as step in ridding 'semi-manual processes and disjointed systems'
May 12, 2017 at 10:18 PMThe Redwood City-based robo-advisor says in its blog that its software advance enables new destiny in "personal banking"
How Neal Simon parlayed a hoity-toity family office RIA into a $5 billion serial buyer in two years by letting the whale swallow him first
May 11, 2017 at 9:52 PMThe CEO of Bronfman E.L. Rothschild engineered nine roll-ins and liftouts since 2015 and, with a key Cantor Fitzgerald hire, is now turning a hungry eye on NYC
Mark Matson's $7.6-billion DFA TAMP exits Schwab custody as it sets $100-billion AUM goal
May 10, 2017 at 9:08 PMWith 'reset' mindset, Matson Money trains his advisors to meet with investors en masse following a Weight Watchers script
Credit Suisse alum recrosses pond, joins Fidelity Trust as VP and investment officer
May 10, 2017 at 2:49 PMPrivate wealth manager Fidelity Trust hires ex-State Street HNW portfolio manager
May 10, 2017 at 2:33 PMVanguard RIA's growth leaps to $5B of assets per month in 2017 as Schwab's RIA robo jumps to monthly $1.3B
May 9, 2017 at 7:12 PMVanguard Personal Advisor Services now has 500 advisors and Schwab, downplaying robo success, promises more advisors are its 'robo' future
How BlackRock stopped Vanguard from devouring ETF market share by pleasing RIAs -- but how that strategy could endanger iShare profit margins in the long run
May 8, 2017 at 7:50 PMThe $5 trillion iShares-maker scores with low, low-priced 'non-Core' ETFs that don't cannibalize high-margin Core iShare products but the liquidity of the cheapo funds could be a problem
Owner of $1.2 billion RIA dies in Palm Springs under mysterious circumstances after swirl of allegations
May 5, 2017 at 6:45 PMOne client accused Jim Casey of using her assets, unbeknown, to fund ill-fated movie ventures and his Integrated Wealth Management is being sued for misappropriation and mishandling of pension funds and client assets
In echo of DFA-RIA custody strife, Morgan Stanley nixes new Vanguard mutual fund account openings
May 4, 2017 at 10:56 PMAs the idea of a fund shelf diminishes, the Malvern, Pa.-based firm's refusal to pay such fees earns cold shoulder from the top New York wirehouse
Jack Bogle's ICI grumbles and Kunal Kapoor's 'future' mode make Morningstar's 2017 conference sparkle with an uber relevance
May 4, 2017 at 3:17 AMThe Vanguard founder made a dig at ICI and the Morningstar CEO put RIA bloggers on even agenda-slot footing with BlackRock CEO and IBM's Sironi
Dynasty Financial toes roll-up model's edge with new plan to buy revenue from its RIAs
May 3, 2017 at 2:01 PMBy maxing deals at 10% of revenues and allowing a three-year bailout option, the New York-based firm seeks to hew to its non-intrusive roots
DFA RIAs remain in turmoil as Schwab and Fidelity ponder matching TD Ameritrade pricing deal and a key couple of basis points
May 2, 2017 at 9:32 PMThe Austin, Texas-based asset manager says its door is open for negotiation but the two big custodians in San Francisco and Boston remain mum as RIA CEOs are pressing for clarity
With Pershing as canvas, Dan Skiles and Peter Mangan paint a picture of a budding RIA custodian
May 1, 2017 at 4:14 PMShareholders Service Group has 1,500 RIA firms and counting and displayed a satisfying air of permanence at its San Diego conference
