Articles published 8/2025
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Vanguard scores 'own goal' for getting snared in a regulatory snafu and fined $19.5 million for failing to adequately disclose a conflict of interest over advisor incentives to funnel clients into its in-house RIA
August 30, 2025 at 3:07 AMKnown for its 'Bogle' scruples, the Malvern giant zigged to marketing one thing and doing another as the SEC zagged toward heightened 'activity' in curbing that behavior, says Michael Kitces
Peter Mallouk foresees seismic shift in RIA M&A from sellers to (some) buyers, if two bad years shake would-be seller complacency and suboptimal buyers bail out
August 29, 2025 at 3:59 AMThe CEO of Creative Planning made his case that procrastinating for profit will end as markets shift and buyers thin out.
Bain Capital plays talent card to replace Envestnet's take-private CFO Josh Warren • Vanguard nabs new exec to figure out alts, it seems • Robinhood opens football bets, then sues • Advisor CRM's 'AI' catch-up • SEC delays Trump ETF date • ETFs explode in number
August 27, 2025 at 3:56 AMAfter 11 years at Nuveen, Bill Stout is Vanguard's alts man of the moment • Betting a 'no-brainer' for Robinhood exec. • Bain Capital protegé is new Envestnet CFO • CRM shop adds AI to keep up with CRM Joneses • SEC prevaricates over controversial Trump ETF • 640 ETFs launched in 2025.
In mad scramble for Morningstar lame ducks, Black Diamond claims 400 RIA wins, including 100 up-and-running, but Advyzon is also on a roll, reporting 90% close rate on pitches
August 26, 2025 at 2:15 AMBlack Diamond also boasts winning 'majority' of larger 'Office' clients with data and discount deals, yet the battle rages for hundreds of other firms.
Vanguard dishes deliverables far faster under new CEO but its press on latest ETF launch drew real analyst double-take
August 23, 2025 at 1:54 AMThe $10-trillion giant under CEO Salim Ramji is making speed a notable factor in fulfilling its to-do list -- but moving fast does not seem to be breaking the culture, for now.
Joe Sanberg founded Aspiration robo-advisor by trading on his entreprenurial background and ties to blue-blood New York along with a co-founder's rags-to-riches story to swindle $248 million from high-profile investors -- now he's headed to jail
August 22, 2025 at 2:51 AMSanberg’s too-good-to-be-true 'Aspiration' scam lured top hedge funds and angel investors like eBay head Jeff Skoll, and Addepar's Joe Lonsdale, even as RIA experts questioned business model.
Envestnet's six-year legal fight over software 'misappropriation' dealt likely major blow after a key ruling that it purposely destroyed possible damning evidence
August 21, 2025 at 3:27 AMSpecial court-appointed master blasts Envestnet for handling of crucial data, clears way for jury trial but also stops short of recommending harshest sanction
RIAs are starting to embrace 'model' portfolios, pressuring the status quo proprietary model of giants like BlackRock, Vanguard and Capital Group and making TAMPs emphasize back office support
August 19, 2025 at 5:10 PMWirehouse brokers and IBD reps have already driven trillions in assets to 'models' but if RIAs -- and specialized 'RIA' model suppliers jump in, a $13 trillion market is projected by 2029
AssetMark just made it more turnkey for RIAs to manage held-away 401(k) accounts, in part, by agreeing to use Fidelity's protocol
August 16, 2025 at 2:18 AMThe Concord, Calif., advisor-outsourcer built its own self-directed brokerage with critical links to Fidelity and Schwab that allows advisors to trade stocks on those recordkeeping platforms
Fidelity soars to $16.4 trillion of assets, a 16% jump of $2.3 trillion for 12 months, and widens gap on BlackRock and Schwab
August 15, 2025 at 2:13 AMThe Boston giant was boosted by markets and an especially big, 17% gain in 'discretionary' accounts, but benefited from a large, $14.1 trillion starting position in administered assets.
Charles Schwab drops big clue that it will 'build,' not buy, spot trading capability, though the launch is likely well into 2026
August 14, 2025 at 1:32 AMTwo crypto-specific help-wanted advertisements by the brokerage giant-- expiring on Saturday -- are explicit about the expertise they seek.
DOL's brass denounces Biden for stifling private 401(k) investments, yet bars plan participants -- even plan sponsors -- from picking direct investments; deferring to 'the BlackRocks of the world'
August 13, 2025 at 2:25 AMThe Labor Secretary admonished how the former administration 'put its thumb on the scale to pick winners and losers,' but admits that investors still have no say in picking assets.
ETF.com comes under Future Proof ownership, with vast staff reductions; CEO Salim Ramji says Vanguard 'turned the corner' on tech woes, but slams door on crypto
August 12, 2025 at 3:41 AMThe 24 year-old publication about exchange traded funds may need more event revenue to thrive; Vanguard's new CEO brings the authority of having been on Wall Street but has grooved to the Vanguard way
Orion's prideful 'cementing' release and its '$5-trillion' milestone prompts rivals -- Black Diamond, Tamarac, Addepar, Advyzon -- to counter with performance data and stories of triumph and momentum of their own
August 9, 2025 at 1:58 AMThe top four performance software makers have grown their administered assets by an average of 177.6% in the last five years, but it's still a horse race when it comes to 2030 and beyond
Trump Labor Secretary 'applauds' Trump and his executive order to put 'alts' in 401(k)s, but president is overstepping Congress, fiduciary expert says
August 8, 2025 at 4:36 AMThe DOL says it is being directed to loosen up fiduciaries to apply best judgment when selecting investments without fear of legal ramifications.
RIAs were supposed to flock to Bitcoin ETFs, but retail investors dominate; Bloomberg's Eric Balchunas sees a big shift coming, and Schwab's Rick Wurster finds reason to cheer
August 7, 2025 at 3:54 AMThe bad news is that it's $14.7 billion out of $2.4 trillion, but the Schwab CEO and the ETF analyst credit RIAs for doing their part.
GeoWealth rakes in second Wall Street-branded 'Series-C' tranche, this time $38 million, as Apollo joins BlackRock and J.P. Morgan
August 6, 2025 at 1:46 AMThe Chicago-based TAMP keeps getting alts biggies as backers -- a wise move, analysts say -- but whether RIAs swallow alts is a big question mark
RIAs need to know that jargon undermines them; it rarely impresses and often alienates someone seeking connection. It's a fixable problem
August 5, 2025 at 3:53 AMFinancial advisors are striving to stand out, but choosing slang, clichés, and other industry speak - that just self-commoditizes and makes a prospect think the advisor doesn’t get it
LPL closes Commonwealth deal while shares tumble; and warns that moving FAs from Fidelity's clearing will take two extra quarters, and the deal triggered mass due-diligence on RIA model
August 2, 2025 at 12:45 AMCEO Rich Steinmeier is openly thrilled to get the Commonwealth acquisition over the line; investors can look forward to a 245% bump to its EBITDA, once fully integrated, he says.
