A $3.4-billion, TAMP-owning RIA buys Interactive Advisory Software, removing the VCs and plunking in a CEO
Engineer-by-training Sean Hanlon's unconventional purchase of IAS and its $33 billion of assets administered is worth keeping an eye on
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Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings
Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'
January 19, 2023 at 3:31 AM
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
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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
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
See more related moves
Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien
Envestnet Inc
TAMP
Top Executive: Jud Bergman
Stephen Winks
IAS founder David Grace has not been recognized as being the first to develop a truly integrated portfolio construction, monitoring and management capability in a planning context which is easy to use that makes advisory services scalable—which is impossible for individual practitioners to achieve. With an authenticated expert prudent process superimposed, its technology is streamlined, scalable, cost effective which can support fiduciary standing.
The new ownership group is building upon a wonderful platform, which with a few enhancements, could be transformational to conventional cobbled together systems which are complex, expensive, difficult to use with out expert fiduciary authentication, long absent in the industry.
IAS can go beyond conventional financial planning programs which are a series of disparate disjointed calculators, by introducing a unifying prudent process (asset/liability study, investment policy, portfolio construction, monitoring and management) in support of fiduciary standing which provide fiduciary standing not possible with planning software and afford an unprecedented level of expert investment and administrative counsel..
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Jim Cannon
Great news for IAS users and definitely agree with Stephen regarding David Grace and the platform. Equally impressive and important are the strong combination of advisory practice and asset management experience Sean Hanlon and his team bring to IAS. Sean has a keen eye for where the puck is headed and has a track record of smartly positioning to successfully gain broad advisor acceptance. We fully expect the firm’s individual advisors as well as enterprise users such as our firm will gain significant advantage from the new owner’s leadership.
Jim Cannon, Dynamic Wealth Advisors
Marie Swift
Good move by Hanlon. Great news for firms that use IAS. I’m an IAS fan, having spent quite a bit of time understanding the value proposition and getting to know the top brass there in order to write a white paper for them on Building Enterprise Value in Your Financial Advisory Firm. If you missed the webinar that provided additional insights related to the white paper and featured Julie Littlechild from AdvisorImpact, I encourage you to (1) download the white paper (2) watch the recorded webinar. You can access them from my blog http://www.marieswift.com. The information and insights in the webinar and white paper are even more interesting given the news of Hanlon Financial acquiring IAS.
