Articles published 11/2019
Headline
Publish date
Schwab's headquarters shift to Texas amid TD Ameritrade merger seems to please nobody -- outside the Dallas Chamber of Commerce--Omaha feels especially omitted
Paper benefits -- no income tax, low corporate taxes, cheap labor, cheap space -- abound, but no Schwab, TD or USAA execs are committing to working there
November 28, 2019 at 4:56 AM
Walt Bettinger sugarcoats nothing to TD Ameritrade RIAs about re-papering or technology and he calls 'modest' the importance of RIA revenues to Schwab
The Schwab CEO stressed his soon-to-be Fort Worth, Texas-based firm's emerging alpha status: 'We're on offense. We press those advantages'
November 26, 2019 at 2:09 AM
Schwab's reported TD Ameritrade deal leaves 10,000 RIAs in twilight zone as weekend begins with an unconfirmed, undenied merger report causing many to weigh options
The RIA custodians are apparently merging despite view that separate ownership and approaches are the big reasons for parking assets there
November 23, 2019 at 9:17 PM
Reported Schwab-TD merger is a 'blockbuster' combo that creates a 10,000-RIA, $2-trillion custody juggernaut and may signal long-expected industry shakeout
The San Francisco and Omaha companies were the fiercest of rivals, so everybody presumed E*Trade would be the next domino to fall.
November 22, 2019 at 1:49 AM
How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again
The fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand
November 20, 2019 at 10:19 PM
After hockey-stick 2019 AUA growth, and a half-pivot to 1099 model, Steward Partners gets first $50 million of external capital
The Raymond James-backed roll-up spikes from $5 billion to $13 billion and gets more of an IBD model tacked on and the co-founders move past a legal dispute for now
November 19, 2019 at 4:24 AM
Brian Hamburger gets Bill Crager, Joe Duran and a top Schwab executive in swing for 'insider baseball' feel at MarketCounsel Summit
RIA feedback guided toward less 'wow' factor and more RIA behind-the-curtain stuff and the golden oil that lubricates all events -- more recess to mingle and schmooze
November 18, 2019 at 10:36 PM
Interim CEO Bill Crager no-comments sale rumors but affirms 'leadership clarification' is coming soon as Envestnet quickly converts 100 PortfolioCenter users to Tamarac
In first quarterly meeting since Jud Bergman's death, wingman Crager had good news that includes major deal with Equifax
November 14, 2019 at 11:31 PM
Focus Financial CFO admits firm needs to 'de-lever' and assures analyst $14-million splurge for posh new offices won't soon repeat
Jim Shanahan say his New York-based roll-up will attempt to get to 3.5 debt-to-equity ratio and critics wonder whether that is signal of weak pipeline of deals
November 13, 2019 at 3:30 AM
Lovell Minnick crashes the RIA party with purchase of $15 billion RIA -- a big sale for post-Hurley Emigrant Partners
The Philadelphia-based investor also made owners of dozens of staff of 100-person Pathstone Federal Street.
November 12, 2019 at 4:05 AM
Ken Fisher goes back on offense by attacking 'completely false' media claims and letting readers know the lost $4-billion of assets were easily replaced
The founder and CEO of Fisher Investments used op-ed in local Washington paper to move past the apology phase and signal strength
November 9, 2019 at 4:55 AM
Goldman Sachs & Co. appoints Rachel Schnoll to yank off United Capital band-aid that Joe Duran didn't -- making FinLife work with non-UC applications
The New York-based investment bank has the cash and people to do the combinations -- especially Goldman software -- that the roll-up's founder couldn't afford or didn't want to advantage
November 8, 2019 at 4:52 AM
Moneta Group got to $24 billion of AUM with an all-St. Louis strategy; now it's licensing Orion software to replicate its 325-employee act in Denver
To keep adding $2 billion annually, 150-year-old patriarch got 'disruptive' software,' a new RIA in Denver, Colo. and plans to reap its second HQ's home cooking
November 6, 2019 at 11:35 PM
Charles Schwab, a true American oligarch, shows no signs of slowing at 82, throwing his substantial fortune behind Donald Trump, hard-right politics and his continuing financial services revolution
The billionaire is dumping San Francisco's liberal warrens for full-time residence in the exclusive enclave of Atherton, Calif., where he'll rub shoulders with other billionaires.
November 5, 2019 at 3:35 PM
Charles Schwab & Co. makes mutual fund owners fume by denying access to critical RIA asset data; some call it a 'cynical power play;' Schwab calls it a OneSource streamline
CEO Walt Bettinger tells analysts profit-taking and fund consolidation could be looming after $400 million hit from zeroing-out commissions.
November 1, 2019 at 7:42 PM
Crain poaches Fred Gabriel, who anchored InvestmentNews' editorial while they owned it, making it a clean sweep for new owners Bonhill Financial
Seeking Alpha Editor George Moriarty will step into editor's shoes; Gabriel will stay through November, before becoming publisher and executive editor at Crain's New York
