Why the RIA business starts 2016 without its swagger: 2014 and 2015
What's hot right now? Almost nothing and nobody. But it might be a 'healthy correction' of equilibrium
Schwab
|LPL
|United Capital
|Focus Financial
|Orion
|Envestnet
|eMoney
|Edelman Financial
|Financial Engines
|Advent Software
|Addepar
|Yodlee
|Silvercrest
Related Moves
Joe Duran will co-develop Goldman Sachs unit aimed at outsourcing to non-Goldman RIAs after 'magic' never materialized for direct-to-consumer RIA
The Newport Beach, Calif. RIA legend plans to shift from B2C to B2B to fix Goldman's disconnect with RIAs and play to the strengths for him and the bank
February 8, 2023 at 3:03 AM
With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Addepar hires Advent genius then launches 'Advent Converter' to court the RIAs still on Axys and APX ; PortfolioCenter 'easy button' comes next
The tactic by the Mountain View, Calif. firm and Advent co-founder and code avatar Steve Strand comes a decade after Orion, Black Diamond and Tamarac began feasting on the legacy corpses, but Addepar insists meat remains on the bone.
March 3, 2020 at 5:05 PM
Marc Spilker adds Matt Brinker as chess piece -- and partner -- in what he calls a 'very selective' talent add to build platform-for-RIA platforms outside Wall Street
Merchant Investment Management's executive chairman wants good people good at their job and Brinker likes having a breakaway Goldman partner rather than one captive to the Wall Street giant.
January 15, 2020 at 2:42 AM
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
SS&C Advent
Portfolio Management System
Top Executive: Robert Roley
eMoney Advisor LLC
Financial Planning Software
Top Executive: Edward O’Brien
Financial Engines
401k Plan Consultant
United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran
Envestnet Inc
TAMP
Top Executive: Jud Bergman
Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf
Addepar
Portfolio Management System
Top Executive: Eric Poirier
Stephen Winks
The industry is self correcting. (1) It is finding ways to resolve 40% of the earnings on retirement savings being lost to brokerage fees, commissions, and administrative cost. (2)The SEC is nailing down more reasonable administrative cost of mutual funds (presently confused with broker compensation) in the best interest of the investing public. (3) FINRA is focused on the industry streamlining of cost, conflicts of interest and brokerage culture which has thwarted innovation in advisory services in the client’s best interest. (4) ROBOs and Algorithmic advice has pegged the cost of advisory services support materially less expensive than TAMPs, making the mechanics of advisory services less important as the skill and counsel of the RIA is the ultimate value added. (5) RIAs increasingly demand world class advisory services support which is consistent with fiduciary duty and technical competency in the clients best interest that accords professional standing. (6) RIAs are no longer exclusively dependent on B/Ds for advisory services support as they can replicate far superior support at far lower cost than b/ds afford. (7) RIAs will focus on (a) maximizing their margins (b) enhancing client service/value proposition, (c) at a lower cost than b/ds and will (d) net more compensation than brokers who are focused on maximizing their payout. (8) The industry must find a way to better serve the best interest of the investing public at lower cost that supports professional standing and fiduciary duty.
In this vein 2016 will be an extraordinary year for RIAs.
SCW
Stephen Winks
Stephen Winks
Forgot to add (9) SEC commissioner Stein is calling for TAMPs and ROBOs to authenticate their fiduciary standing which will clarify existing holes in advisory services support, to the benefit of all.
SCW
