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New Moves in the Biz


Featured
Kevin Knull: Despite frigid temperatures, an old sports injury, and fluid in my lungs from acute mountain sickness, we made it to the summit in 6 hours and 9 minutes.

Talent exodus at MoneyGuidePro revealed by posting from Mount Kilimanjaro includes two Knulls

The big execu-shuffle may reflect influx of power players into the business of financial planning software -- perhaps hottest of RIA technology categories

April 7, 2017 — 8:03 PM UTC by Janice Kirkel

Brooke's Note: The RIA channel combines two enormous advantages before ever getting into squishy issues like ethics and morals. Like ETFs and robo-asset management, it outgrows other channels virtually every year. But unlike other rapidly growing aspects of the advice business, it retains some of ...

1 Comment
Featured

Eli Broverman leaves the table 14 years after meeting Jon Stein over a poker game

April 10, 2017 — 10:24 PM UTC by Brooke Southall

Brooke's Note: Jon Stein is perhaps the best known name in robo-advice. Not only is he the founder of the largest standalone robo but he seems to be everywhere -- on panels, in articles and on TV both as an expert and a pitchman. As Betterment ...

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Featured

Elliot Weissbluth's gun-slinging No. 2, Mike Papedis, moves on after HighTower's assets declined, deals waned and the once-loud company took on an indoor voice

March 21, 2017 — 9:53 PM UTC by By Lisa Shidler

Brooke's Note: The RIA roll-up business has never been about the art of the deal. It is about the art of making a whole series of deals followed by the frustrating management challenge of cobbling them all together. The first stage is easier than the ...

2 Comments
Featured
Mukesh Mehta and Charles Goldman are friends who have made a point of having dinner together a few times a year.

In poaching coup, Charles Goldman hires open-API wizard Mukesh Mehta to AssetMark from Cetera

The legendary chief information officer headed Schwab Institutional's efforts before shepherding in TD Ameritrade's legendary open API

March 15, 2017 — 8:09 PM UTC by Brooke Southall

Brooke's Note: In the idyllic world of P.G. Wodehouse, the unkindest cut one member of the landed gentry can inflict on another is to steal their Anatole -- in other words, their French chef. Back to boiled cabbage and corned beef for Aunt Dahlia and ...

1 Comment
Featured
When Dave DeVoe (l.) started DeVoe & Co., Tim Kochis was on hand to advise. Now Kochis is managing director.

After sticking his own succession landing, Tim Kochis bags 'retirement' and joins forces with DeVoe & Co. to help other RIAs do same

Tim Kochis helped David DeVoe with his business plan and may become a shareholder as soon as next year

March 13, 2017 — 6:09 PM UTC by Sarah O’Brien

Brooke's Note: RIAs never leave the business -- they just take a break. That has proven to be the case with Tim Kochis, who was absent with leave from the RIA ranks for three years and who has now returned to the ranks. What's particularly ...

1 Comment
Featured

CEO Shirl Penney installs a Wall Street-weaponized Joseph Rizzo equipped with M&A expertise as Dynasty attempts the shift from critical mass to critical force

March 9, 2017 — 7:25 PM UTC by Sarah O’Brien

Brooke's Note: If you think of the RIA business as a giant laboratory of business models, a signal invention is Dynasty Financial, which, defying ready categorization, is an audacious hybrid of outsourcer, study group, roll-up, TAMP and a place where Morgan Stanley Smith Barney alumni can transition away ...

2 Comments
Featured

The Schwab alum and long-time sidekick to Bob Oros and Mike Durbin is a lawyer, consulting expert and is 'over the moon' about his new role

March 6, 2017 — 10:56 PM UTC by Brooke Southall

Brooke's Note: David Canter is one of the more approachable people in the RIA business -- even though he's a lawyer. But he's no back-slapping salesman and he is taking over some of the biggest sales responsibilities in the RIA realm. Fidelity's ...

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Featured
Dave Butler: During my tenure with the firm, we’ve grown from less than $10 billion to $460 billion.

As Dimensional Fund Advisors' AUM nears half-a-trillion, David Booth yields his co-CEO duties to David Butler

Booth retains chairman role and Butler, long head of the advisor business, will serve alongside Eduardo Repetto as co-CEO as DFA hits $460 billion of managed assets

February 23, 2017 — 1:10 AM UTC by Brooke Southall

Brooke's Note: Like everything that seems to happen at DFA, from its Nobel-influenced founding to its quiet thundering success, the ascension of the beloved Dave Butler to the co-CEO spot at the company has an air of gentlemanly grace to it. Still, it's ...

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Featured
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 ...

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Featured

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