Articles published 6/2018
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Jodi Perry takes over as head of independent advisors at Raymond James in giant reshuffle that still leaves Van Law's RIA position vacant
The former Southeast director is now in the position vacated by Scott Curtis as he ascends the ladder -- and oversees Perry
June 28, 2018 at 10:44 PM
A Machiavellian Merrill Lynch took the lead on the DOL rule and marketed its fiduciary piety; now it's wrapping its flip-flop in the same pious intent
The fiduciary play by BoA's wirehouse got accolades but failed to help Merrill where it always matters most -- recruiting, retention and revenues. It still may be doing the right thing for consumers when reverse churning gets considered.
June 28, 2018 at 7:06 PM
Calm, thoughtful demeanor led Commonwealth Financial Network to make a 10-year LPL exec its new president and COO; IPO anyone?
Since being poached in 2015, Trap Kloman quickly earned Wayne Bloom's trust and current president, Rich Hunter, is ready to step back
June 27, 2018 at 6:59 PM
Dynasty Financial 2.0 takes big RIAs and applies 'McKinsey' tenets to extrude grand growth -- a leap from midwifing brokers to RIA status then nursing them to health
CEO Shirl Penney will use white glove around an iron fist of change in higher-priced, more customized consulting service-- presuming that the market materializes on cue
June 26, 2018 at 4:39 PM
As era ends, Bill Morrissey steps down to make way for younger exec who leaves job as UBS's digital guru
Nobody sold more advisors to join a broker-dealer than Morrissey but the post-Mark Casady game has changed, making Rick Steinmeier's hire timely for LPL CEO Dan Arnold
June 25, 2018 at 4:48 PM
A year after Acorns gets outed, Betterment faces its juvenile past with 2018 FINRA settlement over 2014 infraction
The $14B robo's ADV will remain clean but it'll live -- like Acorns before it -- with a BrokerCheck violation based on how it managed cash when it was a $608-million firm with a smaller compliance staff
June 22, 2018 at 8:17 PM
What exactly is it about SmartAsset's Zillow-for-RIAs play that converted Focus Financial from funding seeker to a VC backer of $28-million round?
The Manhattan-based startup uses Yahoo!, CNN and other mega-sites to generate 45-million monthly visitors then sells leads to RIAs at $190 per high net worth lead
June 21, 2018 at 6:26 PM
As Brinker Capital embraces RIA future, it ends two-year period of being an outsourced CIO with no named CIO
After the hasty exit of Bill Miller in 2016, the $22B TAMP downplayed insurance brokerage assets, played up RIAs and incubated Jeff Raupp as chief investment officer instead of seeking a ringer
June 20, 2018 at 5:45 PM
'Capacity constrained' SigFig suddenly raises unsought $50 million after major VC steps forward
General Atlantic's funding largess comes after $67 million carried the San Francisco robo its first 11 years
June 19, 2018 at 12:41 PM
One year on, John Copeland's roll-up growth is slow but expectations remain steadfast for big snowball
The founder of Wealth Partners Capital Group sweet-talked AMG into spinning off WPCG to go after plentiful smaller sellers but courtships can't be rushed
June 18, 2018 at 7:52 PM
Why Eric Clarke is pressing to give Orion's 1,500 RIAs first crack at BlackRock's Aladdin -- including two that already have feeds
The Orion Advisor Services CEO is working with a $5-trillion AUM asset manager but it boils down to his personal relationship with BlackRock's Brad Stanger
June 15, 2018 at 7:58 PM
June 14, 2018 at 7:47 PM
June 14, 2018 at 5:46 PM
Mike Sha's robo-advisor faced tough choices until two wirehouses offered unique partnerships -- and maybe a new business model to boot
Sure, the SigFig's founder plays by some of UBS's rules in taking its financial backing and giant systems account but beyond that, the freedom to cavort with Wall Street rivals is pretty unlimited.
June 14, 2018 at 3:46 PM
Joe Duran bets two heads are better than one with Kara Murphy and Bob Landry on board to lead United Capital's investment strategy
The United Capital CEO goes from zero to two investment officers to handle mounting task of managing $22B of AUM and a projected $10B of FinLife assets
June 13, 2018 at 5:42 PM
The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year
Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity
June 12, 2018 at 5:01 PM
Pershing CEO Lisa Dolly flaunts size and software at INSITE 2018
The new leadership continues to push RIAs to see the custodian as less niche but more nimble
June 11, 2018 at 7:33 PM
Reformed Broker RIA makes hire to turn his $825-million-AUM firm into a blog incubator with a not-unneeded feminine touch
Ritholtz Wealth's Josh Brown hires estimable Blair duQuesnay, a reformed UBS broker who brings her own online presence
June 8, 2018 at 2:37 AM
Two transplanted San Diegans -- one a little bit country, the other rock 'n' roll -- join Dowling & Yahnke
Two transplanted San Diegans -- one a little bit country, the other rock 'n' roll -- join Dowling & Yahnke
June 7, 2018 at 5:02 PM
How Vanguard, BlackRock and State Street -- which manage RIA trillions of AUM for a pittance -- may artfully make the bill come due by beating active managers at their own game
The ETF giants' latest mutual fund-killing trick is free management of ETF portfolios -- perhaps the seeds of a massive freemium model
June 6, 2018 at 9:42 PM
Bernie Clark gets an A-level exec to help him futurize Schwab's RIA platform
After Lightyear's Advisor Group nabbed Ed Obuchowski, Schwab went big in replacing him with Andrew Salesky
June 6, 2018 at 3:21 AM
June 5, 2018 at 1:00 PM
After tasting the 'nightmare' of FINRA confines, Roger Hewins buys back his $1.8B RIA from Midwestern CPAs -- with the new freedom worth leaving $3B of AUM behind
The $4.8-billion RIA mega-marriage of Hewins Financial and Wipfli in 2012 took 13 years to complete. The split in 2018 was more like lightning after brokerage regulators bellied up to the bar
June 4, 2018 at 4:51 PM
June 4, 2018 at 4:48 PM
BlackRock poaches a DFA big to head its efforts to get RIAs to use iShares and connect more to BlackRock itself
The $6T New York manager gets Michael Lane to instill community building, Dimensional Fund Advisors-style, but it won't get him to leave Austin
June 2, 2018 at 2:16 AM
Purchase of RIA in a Box with reclaimed Barnaby Grist as overseer shows ambition of New York buyer to create compliance 'robo-advisor'
Fresh off big AssetMark score, Aquiline's money talks, saying RIAs must spend big to comply but would like to spend smaller
