Articles published 1/2020
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TD Ameritrade hedges its bets that Schwab can swallow it whole as DOJ letter lands, LINC 2021 gets planned and TD pledges it'll go 'full tilt'
The Omaha, Neb.-based firm is ready to combine with Charles Schwab & Co. if need be but ready, too, to remain its nemesis until anti-trust hurdles dissipate and the ink dries.
January 31, 2020 at 2:10 AM
Private equity firm backs Joe Anthony RIA PR build-out to the tune of $7 million -- with the green tied to the Boston Celtics
GregoryFCA started thirty years ago as a generalist, then zeroed in on RIAs; now, it's flush with Copley Financial Partners funding for roll-up and staffing up
January 29, 2020 at 3:50 AM
The odd case of Envestnet/Yodlee getting singled out as data scofflaw, just four days after Visa deal to buy rival Plaid and nine months after Raj Udeshi's 'Theranos' outcry
Three Capitol Hill Democrats urged the Federal Trade Commission to probe the small firm -- and nobody else -- with little explanation of where its practices allegedly diverge from the norm
January 27, 2020 at 7:29 PM
Alan Moore and Michael Kitces pledge 50-50 gender ratio at XYPN then digitally fill two crucial roles with women -- one hire using Indeed and the other by Twitter
The XYPN co-founders expect Kasia Kulbacka to manage staff increase to 250 from 50 as COO and for Lisa Asher to evolve the in-house TAMP so that it's maximally financial planning-infused
January 25, 2020 at 11:10 PM
Chairman Charles Widger apparently decides to unload Brinker Capital in hot market, as the stand-alone TAMP reaches a technology crossroads
The Berwyn, Pa.-based manager of $25-billion made notable strides in TAMP-for-RIA market but staying up to date against SEI, Envestnet, or AssetMark may demand a big partner
January 23, 2020 at 5:18 AM
Visa gambles $5.3 billion that Plaid will pay Big Data dividends while big-footing Envestnet-Yodlee and beating back fintech banking competitors
The Silicon Valley credit card king positions itself in the Yodlee data aggregation world by buying a San Francisco startup, which serves Betterment, Acorns and others.
January 22, 2020 at 7:11 PM
Derek Bruton rides again as CEO of Chalice Wealth Partners IBD and RIA, after Kingswood acquisition splits units from the services outsourcer
The dynamic duo of Keith Gregg and Derek Bruton has split into solo acts -- with Bruton joining British roll-up arrivistes, Kingswood. But there's no hard feelings, say the pair.
January 21, 2020 at 7:52 PM
What exactly to make of the Barron's article about Orion being listed for sale by Raymond James for $1.8 billion -- and how it boils down to 'when', not if
Orion CEO is insists no formal action is taking place but majority stakeholder, TA Associates, declines to back him up, Barron's isn't backing down and Orion admits its five-year anniversary with TA marks a sell-by date.
January 18, 2020 at 2:03 AM
Wells Fargo, plagued by broker defections after its 2016 scandal, makes splash after new CEO green-lights generous, innovative succession funding with a Mark Hurley twist
San Francisco bank gets 1,000 of its 14,000 advisors to sign on to program that funds young advisors to buy out elders -- perhaps a sign that Charlie Scharf will go outside the banker box if Well Fargo's brand isn't too far gone
January 16, 2020 at 9:33 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
Headhunters rejoice after Fidelity axes invincible (but expensive) executive bonus program to more narrowly focus rewards on productivity and execution
Watchers of the Boston-based firm presume CEO Abby Johnson's play connects to revenue hits from 'zero' programs but also a strategic rethinking of how to unify the company silos and motivate managers with a more merit-based system
January 13, 2020 at 6:59 PM
After finally knocking down a wall at LPL, Envestnet takes a minority stake in Dynasty Financial, puts Bill Crager on the board and prepares for future upmarket
The Chicago outsourcer hopes to go deeper with big RIAs and enterprises -- starting with an exchange of B2B loans and other wares from Shirl Penney's firm.
January 10, 2020 at 2:33 AM
Fidelity wrests high-profile Amazon 401(k) business from Vanguard, forcing a judicious unbundling of services between the king of assets and king of recordkeeping
The Boston 401(k) king's capture of Amazon's recordkeeping account from rival Vanguard may be proof of concept of 'client experience' at a budget price.
January 8, 2020 at 11:46 PM
FS Investments buys a $1.8-billion Marc Spilker startup to create a 21st century manager where alts and non-alts live together in a Wall Street pedigreed household
The Philly maker of alt credit products adds Chiron and its CIO, who previously took Waddell & Reed $40 billion's worth into the promised land
January 8, 2020 at 3:45 AM
Brouwer & Janachowski gets its rainmaker --the former head of $18-billion Bernstein office -- in a 'grand experiment' to grow from $1.7 billion to $5 billion in AUM
The $1.7 billion Mill Valley, Calif.-based RIA signs on Tony Orme, a player/coach who will work with existing advisors as well as handling high-end clients himself.
January 6, 2020 at 6:32 PM
Antitrust suit against Schwab and TD Ameritrade merger draws 'stunt' accusations and judge agrees
Franklin Tsung’s company, BlackCrown, filed suit in New York against Schwab and TD, but his decision to do so without a lawyer made it a clear 'stunt,' sources say.
January 3, 2020 at 5:26 PM
Into the PIMCO void, Vanguard re-applies itself to active fixed-income funds and Bond Kings get a bitter taste of what the Peter Lynches of yesteryear learned the hard way
The Malvern, Pa. giant has only 24% of assets invested in bonds but nearly 40% of its portfolio staff are bond-directed as it seeks to exploit a world of high fees driven by fiefdoms and petty monarchs.
