Articles published 11/2020
Headline
Publish date
Despite tepid net flows in 2020, Aperio finds its white knight; BlackRock makes a deal to compete with buyers of Parametric, Motif and Folio
November 26, 2020 at 1:42 AMThe Sausalito, Calif., direct indexing firm's owner watched as competitors got snapped up by Morgan Stanley, Schwab and Goldman Sachs but ultimately scored a $1-billion offer from the giant's petty cash.
Dodging ridicule and winning 'wary' support, the College For Financial Planning will accredit advisors who learn to convince investors to take their advice seriously
November 25, 2020 at 1:40 AMAfter Covid-19 chased investors out of the market at the exact wrong time, the Kaplan-owned company made its move to advance managing emotions as a sanctioned skill in financial planning -- despite too many letters in the alphabet soup already
How LPL Financial is executing a big RIA-like pivot through the acquisition of Blaze Portfolio, founded by an Advent Software breakaway engineering troupe
November 24, 2020 at 2:23 AMThe Fort Mill, S.C., broker-dealer just took the leap to 'personalized' portfolios by paying $12 million for the Chicago trading automation firm.
How a disillusioned Northwestern Mutual breakaway broker turned his RIA software nightmare into a potential dream investment for Marty Bicknell
November 20, 2020 at 9:09 PMThe 39-year-old created his own little B2C robo-advisor that collects $400,000 annually in subscription fees but a $1.8 million investment from the Mariner CEO will morph it for B2B RIA use
With rivals pressing, Addepar insiders ante $117 million to up its game and settle in for the long haul -- as the firm adds $2 billion in pandemic-driven AUA each business day
November 20, 2020 at 3:34 AMOn target for $5-trillion milestone by 2025, the Mountain View, Calif., reporting software comer hits $2.25 trillion of administered assets -- funded by founder Joe Lonsdale's 8VC, and Laurence Tosi-led WestPac.
A hotshot Canadian CEO tears through the RIA market like the polar vortex, sweeping up $16 billion in AUM and ringing the bell on an NYSE listing that could fuel even more deals
November 18, 2020 at 3:39 AMKurt MacAlpine plans to keep buying fast and fearlessly for CI Financial, but skeptics say frothy valuations and high debt are ratcheting up risk.
Robinhood allegedly implied a fiduciary duty to novice investors in the marketing of its 'game-like' trading app, even though it's a FINRA-regulated broker-dealer, new class action charges
November 17, 2020 at 4:54 AMThree Florida firms sue claiming (IPO bound, Bloomberg reports) Robinhood allegedly failed to direct self-directed investors -- a claim that is both legally shaky, and potentially serious, experts say.
Focus Financial buys B2B outsourcer -- a business model shift that stretches its M&A dollar but also introduces identity issues
November 13, 2020 at 4:29 AMThe New York rollup bought $9 billion of AUM, but CornerStone Partners is still an OCIO for non-profit institutions with a set of challenges unique to its niche.
After adding an ex-iShares product chief to call the shots and -- oye -- lowering fees, Dimensional Fund Advisors humbly and belatedly charges into ETFs and should score $5 billion in two years, an analyst says
November 12, 2020 at 4:43 AMDFA nabbed Nicole Hunter's BlackRock ETF playbook and committed to ETF-level fees to show the industry it plans to play to win assets -- even if some come from within.
Charles Schwab shutters 79% of TD Ameritrade branches -- though 140 will cohabitate with a next-door Schwab branch -- and refers legacy TDA assets to legacy TD RIA custody clients
November 11, 2020 at 12:27 AMThe San Francisco retail brokerage will keep 400 branch addresses and no legacy Schwab assets will get referred to a 'TDA' RIA for now.
Envestnet turns to former FIS executive -- and replaces a CTO -- to help shape up the firm's disparate offerings into a unified whole around the concept of 'wellness'
November 10, 2020 at 2:45 AMThe Chicago outsourcer gets Donna Peeples to harmonize products and marketing to move beyond the 'TAMP' label as Orion contends for market share with Brinker added.
After shaking down Bain for evidence, DOJ files suit to stop Visa purchase of Plaid, a nightmarish turn of events for the $5.3-billion dream deal
November 6, 2020 at 10:29 PMThe Feds see Plaid acquisition as naked attempt by Visa to perpetuate a monopoly with 'insurance policy;' the card giant responds with acerbic aplomb.
Heads or tails he wins, but Mark Casady's upside for making his SPAC click is head-spinning because the IPOs will keep flying out the door
November 5, 2020 at 8:41 PMSEC filings detail the Lefteris chairman's overnight gains of maybe $50 million, but if the ensuing reverse merger or buy blossoms, it'll trigger a potential virtuous circle.
High profile 'United Capital' RIA exits Goldman Sachs San Francisco office -- and boom -- lands with Marty Bicknell at Mariner Wealth Advisors
November 5, 2020 at 3:20 AMKelly Trevethan also ended his decades-long tenure as Joe Duran's personal advisor in his trek to a new San Francisco office with Mariner Wealth Advisors.
Capitalize gets $2 million from four top VCs on novel freemium idea -- to reunite investors with hundreds of billions in 401(k) assets held by their ex-employer
November 3, 2020 at 10:07 PMFounded by a 35 year-old who got his career start at hedge funds, the New York City firm will make sure your rollovers take place, paperlessly -- at least for you
Hightower Advisors pairs 'Moss Adams' whip-crack training with latest (reported) $600 million Goldman Sachs-led capital raise to give organic, and inorganic, growth a better chance
November 2, 2020 at 10:32 PMex-Mark Tibergien protégé, Philip Palaveev, designs failable two-year management program for Hightower advisors, using Fidelity G2 Leadership Institute as a template -- and his marathon career as the teachable metaphor
RIAs are mad for fixed-income ETFs but a start-up's backers bet $10 million it can get them to pay $10,000 (per seat!) to go back in-house
November 1, 2020 at 10:02 PMOther attempts to virtually combine bond inventories were lackluster but YieldX says it's mining a rich new vein of data that bond ETF makers -- Vanguard, BlackRock, PIMCO etc. -- lay bare.
