Articles published 2/2022
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Bob McCann will bring swagger, cash and cachet as co-chair of NewEdge Capital Group, a firm that cobbled $30 billion of AUA to compete with old rival Greg Fleming at Rockefeller Capital Management
February 28, 2022 at 7:59 PMEx-Morgan Stanley brokerage prez, Greg Fleming got Rockefeller rocking, now Bob McCann will get the opportunity to do the same at NewEdge.
Bill Crager says Envestnet is about growth 'period!' after Barron's article, citing five 'sources,' claimed his firm retained Piper Sandler for a possible sale
February 25, 2022 at 4:25 AMThe CEO and co-founder of the Chicago outsourcer got hit with a first-off question at an analysts' call this afternoon about the sale report -- but the executive had already laid out a very future-oriented vision and promise to 'turn the corner in 2022.'
State Street ETF scored mightily in 2021 by getting Blackstone to sub-advise lending 'esoterica;' now State Street is launching new ETF and rewarding Blackstone with a longer leash to chase higher yields
February 24, 2022 at 2:26 AMThe $881 billion Manhattan alts investor will delve into junk in addition to safer senior loans with new ETF. Nobody will complain about the 70 basis-point fee, if it again delivers higher returns and the inflation protection of floating interest rate loans.
Joe Lonsdale is prepping Lonsdale Investment Technologies for launch 13 years after founding Addepar -- with the new business model too cannibalistic for comfort, some say
February 23, 2022 at 12:09 AMThe Austin, Texas, serial entrepreneur is still executive chair of, and a big stakeholder in, Addepar but may need a fresh start to manifest his hyped vision of creating high bandwidth financial flow between retail investors and vast private markets.
AssetMark lets RightCapital sell financial planning software to its advisors -- with data synching -- despite just buying Voyant for $145 million
February 19, 2022 at 2:43 AMThe $90-billion Concord, Calif.-based TAMP's API connection also follows one with MoneyGuidePro before the acquisition and an SEI deal to integrate with Right Capital
Dynasty Financial hires 'real deal' TD Ameritrade RIA sales talent who left after Schwab deal; he'll again mine for RIAs on Florida's Gold Coast--first big news since IPO disclosed
February 17, 2022 at 2:50 AMThe St. Peterburg, Fla., technology outsourcer made its 10th Florida hire since start of year but first one on the state's Southeastern Coast
Focus Financial tightens ties with CAIS to boost alts, just don't say the arrangement much resembles CI Financial's deal to buy a stake in GLAS Funds
February 16, 2022 at 7:34 PMNew York City-based CAIS already administers a $30-billion chunk, it says, of Focus's $350 billion of RIA assets; RIAs get to add third-party funds or go with the CAIS selections
Betterment's new CEO spices up baked potato robo menu with self-directed crypto allocations; one guru calls it a 'square peg' in round hole, but Morningstar analyst sees 'leapfrog' potential
February 15, 2022 at 2:39 AMNew York City robo-advisor CEO Sarah Levy bought 'Makara' after 90% demand it; they can choose crypto for 100% of portfolios but must pay a fee of 100 basis points.
CFP Board bars Jim Iannazzo from using its mark 'or [even] suggesting' he holds it, at least until the ex-Merrill broker is adjudicated on three crimes arising from smoothie-throwing tirade
February 11, 2022 at 4:24 PMCertified Financial Planner Board of Standards took about two weeks to determine Iannazzo's conduct 'significantly impinges' on its 'reputation'
The British parent of InvestmentNews got a $2.4 million federal taxpayer bailout to weather the pandemic crash and has been freed from paying back the money under a COVID relief program
February 11, 2022 at 3:46 AMBonhill Group PLC called 2020 its most challenging year in its history and reported that 2021 won't be much better as COVID batters business strategy
Noreen Beaman steps down as president of Orion Advisor Solutions after Brinker migrates to Orion software and enterprise deals 'prove out'
February 10, 2022 at 2:22 AMThe former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.
Charles Schwab & Co. registers TD Ameritrade brokers to rep Schwab products and to retain clients who chose to convert to 'Schwab'
February 8, 2022 at 11:20 PMThe Westlake, Texas giant registered TD Ameritrade reps en masse to its own broker-dealer so they can now reclaim clients who pre-converted to Schwab and also buy and sell Schwab products, open Schwab accounts, manage them, and even get paid on it all
LPL Financial shares spike after no-drama CEO Dan Arnold delivers (near) 20,000 advisors, $1 trillion-plus in AUA and surprising Waddell & Reed wrinkle
February 5, 2022 at 2:03 AMShares of the San Diego company rose almost 5% after leader reported $300 billion asset leap, high M&A retention and multi-channel wins.
Oisin's Bits: RIAs are slow to raise wages to reflect revenue and inflation • Robertson Stephens doubles AUM, making three a charm • SEC finally explains Bitcoin ETF application failures • Tenev, Bhatt get billion dollar haircuts in Robinhood stock slump
February 4, 2022 at 8:21 PMSchwab report shows RIAs hire at bargain rates but maybe not for long • 'Robertson Stephens' third go-round, second as RIA, gains steam • SEC reveals spot BTC concern--fraud • Robinhood founders lose $3.4 billion, $3.9 billion in stock slump
Despite no 'clear, crisp ah-ha! moment,' Morningstar finally launches dedicated RIA bundle unit infused with direct indexing and clearer line to CEO Kunal Kapoor
February 3, 2022 at 8:13 PMThe Chicago firm mandated Daniel Needham with money, mission and people for branded, one-stop back office for fiduciary RIAs
FSI rallies brokers in Dallas with an old battle cry -- access, access, access -- and a stated desire to deal with aging members-- 62% are older than 55
February 3, 2022 at 1:06 AMThe 90-member lobby group for broker-dealers addressed its antiquated aspects--few digital adapters and small numbers of young people--with just 19% of its 30,000 advisors under the age of 45
After three years bootstrapping, Los Angeles crypto platform raises $125 million at (post-raise) $1.3-billion valuation by creating a place to trade tax free through IRA shelter, but (so far) no RIAs
February 2, 2022 at 2:04 AMiTrustCapital is using a 1974-enacted ERISA provision as the secret sauce for YouTuber stars to promote and grow its 2018-founded startup
