OC Isaac: I don’t see banks changing their credit policies to match what we do. I think that is highly unlikely.

JP Morgan breakaway RIA makes unusual hires with ambitious plan to lend to people that banks tend to shun

OC Isaac comes aboard Manhattan West to build supply for $100-billion investor demand for seeding startups viewed as messy

February 17, 2017 — 7:48 PM UTC by Sarah O’Brien

Brooke's Note: As the federal government races to put men soaked in oil money in charge of the EPA, Andy Puzder types in charge of labor and pensions and Goldman Sachs in charge of anything where money is remotely involved, private industry is racing in the other ...

0 Comments
Andrew Puzder: I am honored to have been considered by President Donald Trump.

Where Puzder's exit leaves the fiduciary rule, the DOL's bastardized mission and whether the new appointee prospect is a patsy

New nominee is law professor Alexander Acosta with a more politically correct profile but a similar stance on where power should lie in a free enterprise system

February 16, 2017 — 6:44 PM UTC by By Lisa Shidler

Brooke's Note: Andrew Puzder made many people hold their noses both in the investment and hamburger-flipping arenas -- and that was just based on the sordid details of his life and his unsmiling countenance. But Puzder's views toward the least sophisticated investors and the members of ...

2 Comments
Marcia Wagner: I don’t think it’s a coincidence that this comes after the Dallas ruling. That was pro-rule. Now the DOL is seeing how it can walk it back.

DOL rule-killers now on defense as legal failures add up, reinforcements don't make it to Washington and the clock ticks down

Cumulative effect of Puzder and Scaramucci implosions and looming April 10 go date shifts momentum to the rule's standard bearers

February 15, 2017 — 6:32 PM UTC by Janice Kirkel

What appeared at first rush to be a concerted blitzkrieg of legal, legislative and administrative assaults on the DOL fiduciary rule since the Trump Administration took power is now looking more like a scattershot display of fireworks aimed at creating a distraction in service of some ill-defined end.

Last week ...

0 Comments
Sources question whether Scaramucci has ever even met Trump. Hundreds of photos exist of him in the Trump building lobby. Google images failed to find one with him in Trump's company.

As dust settles on Scaramucci story, a different picture of DOL rule nemesis takes shape: A ladder-climber who slipped on the top rung

The SkyBridge Capital founder may have found an alleged conflict of interest as preferable to a less glamorous truth

February 14, 2017 — 6:30 PM UTC by Brooke Southall

Brooke's Note: After we wrote the original Anthony Scaramucci article, sources reached out to me to say it was good -- as far as it went. With their help, and a surprisingly helpful SkyBridge, I was able to piece together a more complete picture. The ...

1 Comment
John Rourke: The name of the game is 10-person startups actually having a chance of taking down huge, established players.

VCs back Wealthbox with another $6 million as improbable play to upend CRM giants like Salesforce, Microsoft and Redtail by 'Facebooking' its look and shanghai-ing data from LinkedIn

CEO John Rourke recognizes that CRM and social media are birds of a feather and he is starting to make his startup fly with the power and simplicity of the Silicon Valley giants

February 13, 2017 — 8:22 PM UTC by Jessica Devenyns

Brooke's Note: We often leave the software parsing to the specialists like Messrs. Bruckenstein, Winterberg and Kitces. But when venture capitalists buy in we like to try to know what compelled them to pry open their wallets. The advance of Wealthbox remains improbable but $6 ...

1 Comment
Dan Arnold: Let me expand on our first priority: growing our core business.

New LPL CEO Dan Arnold thrills Wall Street in debut by laying out vanilla vision

Deflecting talk of RIA strategies and alliances with giants aside, Mark Casady's successor says LPL Financial's recruiting machine is poised to crank in DOL turmoil cast-offs

February 10, 2017 — 7:55 PM UTC by Janice Kirkel

Brooke's Note: After all the recent year's palace intrigue about LPL getting sold to Schwab, not, being like Schwab in RIAs, not, getting new and fancier leaders and partners, Dan Arnold really had one way to be impressive. He had to make it seem like ...

1 Comment
Scott MacKillop: The public sees us all as being members of the same club.

RIAs should ask not for whom the DOL-rule sharks swarm ... they swarm for you, too

Advisors who truly aspire to be part of a respected profession need to oppose the furious efforts to revive the commission-broker ethos from the top seat of government

February 9, 2017 — 10:39 PM UTC by Guest Columnist Scott MacKillop

Brooke's Note: California surfers can tell you. If a shark menaces, there are two things you'd best not do: freeze like a piece of inert fish food or make madly for the shore like an injured seal. You might, however, want to make ...

7 Comments
Marcia Wagner: This could be her saying: we're independent.

'Forum-shopped' Texas judge, refusing to play along, torpedoes Wall Street's efforts to stay the DOL rule -- narrowing chances of an end run by Trump and stockbrokers

DOL rule's would-be killers face the quagmire of law-making; Chief Judge Barbara Lynn grilled DOL, promised that it signaled nothing, and that turned out to be true

February 9, 2017 — 2:46 AM UTC by Brooke Southall

Brooke's Note: The RIA business has been a microcosm of the more exciting things happening in the wider world. But never more than now. We have our own case of a judge acting independently. Now we can wait and see if she gets labeled:  ...

1 Comment
Ron Fiske: I thought I’d be there the rest of my career.

Apex Clearing adds Ron Fiske to its Pershing mafia as it plays bigger for emerging asset class -- RIA digital

Fiske departs Envestnet to rejoin Apex CEO William Capuzzi, a former Pershing colleague, to build on Apex 'big league' success as custodian for firms like Betterment and Wealthfront

February 8, 2017 — 10:05 PM UTC by By Lisa Shidler

Brooke's Note: Bob Oros, Lori Hardwick and now Ron Fiske in the past two months. If you combine RIA business knowledge and the ability to play well with others in a corporate setting, you are likely to get poached. Somebody will think you are ...

2 Comments
Edmund Murphy added to a blitz of attaboy comments by financial execs after draft appeared to seek delay of DOL rule.

How Trump's backtrack on DOL rule burned his most ardent anti-rule supporters and the opening Elizabeth Warren is exploiting

Threat of losing DOL rule sparks a new public consciousness and the Massachusetts Senator gives shout-out to Betterment, XY Planning and BlackRock

February 7, 2017 — 10:46 PM UTC by Janice Kirkel

Brooke's Note: The Trump administration's flip-flop on the DOL rule on Friday was breathtaking but didn't happen for nothing. See: Trump's lightning-quick backtrack on executive order relating to DOL rule sows chaos in financial advice industryAnti-DOL rule forces are ...

0 Comments

RIABiz Archives

2017 | February | January 
2016 | December | November | October | September | August | July | June | May | April | March | February | January 
2015 | December | November | October | September | August | July | June | May | April | March | February | January 
2014 | December | November | October | September | August | July | June | May | April | March | February | January 
2013 | December | November | October | September | August | July | June | May | April | March | February | January 
2012 | December | November | October | September | August | July | June | May | April | March | February | January 
2011 | December | November | October | September | August | July | June | May | April | March | February | January 
2010 | December | November | October | September | August | July | June | May | April | March | February | January 
2009 | December | November | October | September | August