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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.


Tom Kimberly: We heard consistent feedback about the need for greater portfolio flexibility.

Betterment makes Goldman Sachs and Vanguard partners as it shifts into higher RIA gear

With advisors demanding to get back in the driver's seat, the robo's RIA chief, Tom Kimberly goes for two big-name model portfolio strategists under the 'Betterment for Advisors' brand

September 14, 2016 — 1:29 PM UTC by Brooke Southall

Brooke's Note: We have been talking about 'convergence' in the financial advice business from the days when people first realized that Schwab was trying to become Merrill Lynch and vice-versa. Schwab is winning that war for the middle by mostly every measure. Now it looks like ...

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Ron Carson: The more I stepped back the better. I even shocked myself.

What to make of Ron Carson selling 29% of his empire for $35 million -- and how he's evolved his no-pain, no-gain approach to attract a new generation of talent

Improbably, the master motivator of Omaha is seeking a few good millennial slackers en route to building a firm that exudes as much silicon as charisma

July 12, 2016 — 10:16 PM UTC by Natalie Carpenter

Brooke’s Note: This article hopefully opens a wider window on Ron Carson and his enterprises than any before it. But I’ll warn you, it falls short in one regard despite some rather good tennis shoe sleuthing on the part of Omaha gumshoe Eric ...

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Former DFA exec John Blood is migrating his portfolios toward 'factor' ETFs, and away from DFA mutual funds.

How an ex-DFA exec created a $1.2 billion TAMP in three years and why he's phasing out DFA funds for factor ETFs

After calling on DFA TAMPs like Loring Ward and Symmetry, the owner of Efficient Advisors saw an opening and a way to shave costs

May 9, 2016 — 8:30 PM UTC by Irwin Stein

Brooke’s Note: With its low fees, Nobel Prize-backed investment practices and classroom training of RIAs, Dimensional Fund Advisors is that rare investment product company that walks on water, metaphorically speaking. But with ETFs cheaper and, some would argue, just as “factor”-based in many ...

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Charles Goldman: They're buying the management team.

Charles Goldman's turnaround of Genworth castoff leads Chinese investor to pay stunning price

AssetMark grew from $21 billion of AUM to $29 billion but PE firms made quick 300% return

April 12, 2016 — 3:47 AM UTC by Brooke Southall

It wasn’t something Charles Goldman ever imagined doing when he accepted the job to turn around and lead AssetMark after it had begun to unravel under Genworth’s ownership. See: 'AssetMark’ rides again as a $20-billion TAMP with a receding Genworth hangover.

Yet there ...

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Jon Baum: If you go and visit the company in Omaha, there's no sense that it's a family business. There are two main campuses and it's a very big and professionally run business.

Orion's parent NorthStar tops 700 employees, finishes second Omaha campus and taps a super-exec from central casting to run it all

With Eric and Todd Clarke handling day-to-day challenges at Orion and CLS, NorthStar finds an un-Clarke in Jon Baum, former CEO and chairman of The Dreyfus Corp.

March 24, 2016 — 7:02 PM UTC by Lisa Shidler

Finally capitulating to the transformation of their family business from a mom-and pop on steroids into a corporate cranker, the Clarke family is putting an outsider in the chief manager spot — but not before yanking a fishing rod out of his hands.

Coming on the ...

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Scott Winters: Because we're the fastest growing TAMP in America, we haven't really stopped to count which assets are coming from Curian, and which aren't

Why mini-TAMP EQIS just got a maxi private equity infusion after judicious scavenging of Curian

Long Ridge Equity Partners looked once, then came back 18 months later and invested $15 million in a TAMP that shuns mutual funds, allows $25,000 investments and professes to deliver on selling the Yale endowment model in a box

March 3, 2016 — 10:24 PM UTC by Sanders Wommack

Brooke’s Note: It’s well accepted that the core competency of financial advisors lies not in their ability to manage portfolios of securities. We can pretty much stipulate that without pushback. So you’d think that investment outsource companies, namely TAMPs, would thrive. They ...

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Jud Bergman: The biggest thing was the repricing due to the WMS client. That's the biggest single factor.

With Envestnet shares deeply depressed, analysts cut Jud Bergman little slack on 4Q earnings call

WIth a not-yet-integrated Yodlee, trouble with a big client, Lori Hardwick's departure and a recent history of muddy communication, CEO Jud Bergman worked hard to reassure

February 29, 2016 — 6:09 PM UTC by Lisa Shidler

Lisa’s Note: As a reformed steel industry reporter, I’ve covered the most contentious earnings calls. I was reporting on Bethlehem Steel and U.S. Steel when each firm was buried in bankruptcy, steel mills were shuttering their doors and the companies’ stock prices ...

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Michael Kim: There just aren't a great number of people out there who can take the consultative approach and actually work well with advisors.

AssetMark finds greatest treasure of Curian shipwreck to be its survivors, even as it salvages $2 billion from the ocean floor

The Concord, Calif.-based outsourcer fills five sales positions from its fallen competitor with ease and sets them a task to throw life rings to even more adrift advisors

October 19, 2015 — 3:43 PM UTC by Sanders Wommack

Brooke’s Note: What happens when $10 billion of AUM gets abdicated to the market? With the decision of Curian Capital to take exactly that course of action, we get to see. But what may be more interesting is not what happens to the financial ...

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Anil Arora: We are powering some of the biggest financial institution, investment and wealth management entities in Canada, the United Kingdom, Australia, South Africa, India.

This time Envestnet plays most cards face up as analysts press again for cogent Yodlee deal rationalization

Jud Bergman supposes, though not until 2020, that the merger will yield an extra $200 million in revenues

September 24, 2015 — 11:44 PM UTC by Lisa Shidler and Brooke Southall

Brooke’s Note: Depending on how you count, this is Envestnet’s third or fourth official attempt to explain why it is buying Yodlee for $660 million. Every time that happens, RIABiz is all ears. The explanations amount to drafts on the subject of how ...

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Lincoln Ross: That picture the advisor gets in sitting down with a client changes potentially the moment the client walks out the door.

A long-form explanation of why -- Wall Street be damned -- Envestnet's purchase of Yodlee might make sense

Nothing will deter the Chicago outsourcer from a future infused with data, according to Envestnet strategy chief Lincoln Ross, who'll shoulder the credit or take the blame for the deal's outcome

September 10, 2015 — 7:59 PM UTC by Brooke Southall

Brooke’s Note: After Envestnet acquired Yodlee, the shares of the former outsourcer pretty much crashed. It was as if Wall Street, in its collective wisdom, had decided that Jud Bergman had suddenly forgotten how to do a good deal or how to properly absorb ...

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