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TAMPs

Outsourced investments are one of the fastest-growing categories in the financial advisory world. Perched between the asset custodian and the financial advisor, these (mostly) turnkey asset management programs can handle all or a portion of their investing, technology and fiduciary duties.

Advocates of using these TAMPs point to how it's better for the advisor because it frees up more time to spend with clients and prospects. It's also better for clients because the duties are being handled by specialized professionals who benefit from economies of scale.

Skeptics say that it adds a layer of cost and takes away an element of control from the advisors in executing according to a client's financial plan.


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 ...

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Joseph Rizzo: It became really hard not to listen (to Shirl Penney's overtures).

Hitting $20 billion of RIA assets in six years, Dynasty Financial hires its first chief AUM-booster, the better to get to $40 billion faster

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 ...

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Eric Clarke: When we did the agreement with TRX we knew there would be key learnings we could pick up along the way.

The four-year ordeal Orion's president underwent to launch Eclipse -- a sprint to stay in the race with Tamarac and Black Diamond for rebalancing

Eric Clarke tried to build, failed, bought, but kept on building until he got Amazon-ensconsed Eclipse

February 28, 2017 — 2:31 AM UTC by Janice Kirkel

Brooke's Note: By now it is axiomatic to observe that small companies have the advantage of being nimble. But what about that mezzanine stage where you're big enough to have something to lose but too small to disappear a problem by writing a check. That seems to ...

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Valerie Brown: We serve a lot of RIAs and we want to make sure they stay here and thrive.

Why Valerie Brown is doing 19-whistlestop tour with her new CEO to sell -- ironically -- deep price cuts and a TAMP-for-millennials

The executive chairman and Jamie Price slash bond and ETF trading costs, roll-out robo-turnkey and create so-called NTF platform for brokers

January 11, 2017 — 2:26 AM UTC by Brooke Southall

Brooke's Note: Valerie and Jamie sounded upbeat and chipper on their interview call with me. And why not? They are about to receive the endorphin rush that comes with delivering news that people are excited to hear. They made clear to me that these sweeping ...

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Bob Miller: Although we compete with Addepar in the reporting domain we also provide services that they do not.

With Addepar muscling in, original UHNW software force PCR hires new CEO, triples engineering staff, kills off asset-based pricing and seeks more RIAs

Plucky Bob Miller is replacing Rob Fiore at the Wilton, Conn. firm with a keen sense of UHNW hegemony and willingness to take half an RIA loaf for reporting on managed illiquid assets

December 30, 2016 — 7:14 PM UTC by Sarah O’Brien

Brooke's Note: I am not somebody who is sold on the idea that alternatives investments are good to invest in or that they are even all that "alternative" given how many readily melted down in 2008-'09 along with everything else. Part of my skepticism lies simply ...

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Peter Mallouk owns a $21-billion RIA already growing with organic ferocity. Then Tony Robbins shows up and whoosh.

The 10 RIABiz stories advisors connected with most deeply in 2016 and how hubris and humility ran amok in this didn't-see-it-coming year

How did Aequitas swamp CONCERT? Power outages at LPL, Cetera and Wealthfront? Adolescent robo problems? And was that Tony Robbins hawking his money book ... again?

December 28, 2016 — 5:54 PM UTC by Dina Hampton

Brooke's Note: Choosing which articles were of greatest interest to RIABiz readers in 2016 was easy because a Google robot  measures the final results of your reading output.  We then refresh your human memory about why the story was so irrestistible at the time. Big ...

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Jeff Remming: We saw the ineffectiveness of PortfolioCenter itself after a few years but there weren't many choices back then.

Orion lands $27-billion AUM account as BAM Alliance phases out its homemade system built on Schwab PortfolioCenter

The choice of the Omaha-based, open-source system by the giant DFA TAMP reflects the diverse needs of 140 RIAs -- and the need to up-robo client experience

October 20, 2016 — 3:47 PM UTC by Brooke Southall

Brooke's Note: Questioning Eric Clarke about this momentous win, I saved the toughest question for last: Did his company, NorthStar Financial Services Group LLC, still have all those employees working from the stuffy attic of a local bank branch in Omaha? How Orion's parent company -- NorthStar ...

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Aaron Schumm: I had the luxury of working with 100,000 advisors and hearing what they needed to help their business.

Two years after the $199 million FolioDynamix sale, Aaron Schumm jumps back in the B2B RIA game but not to compete -- yet

Staked to $4.5M of F-Prime and FinTech Collective cash, Vestwell will stay in 401(k) for now but roll its business model over soon enough to IRAs

October 4, 2016 — 6:22 PM UTC by Janice Kirkel

Brooke's Note: In covering the RIA business, we follow the money and we follow the people. We also follow the technology and the evolution of business models. In this article, we got to follow all four of those elements and that is what makes Aaron Schumm's new ...

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Bill Sowell: The advisors were innocent bystanders.

Cornered by custodial edicts, CONCERT exits RIA business in deal with Arkansas-based white knight

Bill Sowell's first order of business is to keep the advisor crew on board, using as one sop the familiarity of CONCERT's proprietary CRM

September 28, 2016 — 9:18 PM UTC by Irwin Stein and Lisa Shidler

Brooke's Note: If ever there was a tortoise and hare scenario, it is this. The Silicon Valley-based innovator uses a fast lane approach. But in the end, the spoils go to a terrapin TAMP in Arkansas with the owner's name on the door -- and friendly relations with its custodians.

After RIA ...

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Steve Dunlap (with FolioDynamix's Meghan McCartan): The current robos have jumped the shark.

FolioDynamix president uses conference to KO robos and call them a 'free beta test'

A half-full message on DOL rules is the federal mandate to ask clients about held-away assets as a matter of fiduciary responsibility

September 23, 2016 — 6:23 PM UTC by Guest Columnist Timothy D. Welsh

FolioDynamix remains the Avis of TAMPs -- and its new president Steve Dunlap has much to show for trying harder even when it hurts

“We’ve been punching under our weight class for a while now,” said Dunlap, the former Cetera, Pershing and Lockwood executive, as he reflected ...

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