SEI makes its play for big RIAs by doing some un-SEI things
The Oaks, Pa. TAMP, long doctrinaire about its closed approach, is taking big steps to open up but it still may not be enough, say some advisors and competitors
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Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo
The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says
January 7, 2023 at 1:50 AM
Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem
Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance
November 18, 2022 at 2:56 AM
Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too
The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.
October 29, 2022 at 12:02 AM
Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm
Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.
July 27, 2022 at 2:27 AM
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Tiburon Strategic Advisors
Asset Manager for RIAs
Top Executive: Charles Roame
Envestnet Inc
TAMP
Top Executive: Jud Bergman
SEI Advisor Network
TAMP
Top Executive: Wayne Withrow
Envestnet | Tamarac
Portfolio Management System, CRM Software, Trading/Rebalancing
Top Executive: Stuart DePina
Stephen Winks
There is a terrific need for innovation in simplifying the delivery of advisory services. Adhesion’s success is based on its responsiveness to advisors, while custodians and large TAMPs are largely selling the capabilities they have in a vacuum of what advisors need and/or require.
In the absence of simplifing, expert, comprehensive advisory services support, incremental advances in advisory services support unnecessarily complicate the business.
Dick Smith is absolutely correct, there is a lot of hyperbole in the industry, especially in advisory services. Wouldn’t it be nice if advisors and their client’s could rely the continuous comprehensive counsel supported by a broker/dealer or custodian. It doesn’t exist. B/ds and custodians don’t want the fiduciary liability and the poor advisor must bear the burden alone. One of these days, someone will be in the game with the advisor, for the benefit for all. Uncommon expertise in the brokerage and custody worlds is required which may tip the scales in the direction of Adhesion-like firms which have independently created critical mass, are unconflicted, and have not ax to grind other than what works best.
SCW
