Walt Bettinger (on-screen at IMPACT): In the fourth quarter, we streamlined share classes and decreased operating expense ratios on our money market funds, enhancing the net yields available to our clients.

Citigroup downgrades Charles Schwab Corp. on fears that vise grip of lavish staff expense and slashed prices will overwhelm banking windfall

Vaunted analyst William Katz sees Schwab's expanding reliance on pushing cash to its bank to earn spread revenue as too risky to recommend a 'buy'

February 16, 2018 — 12:02 AM UTC by By Lisa Shidler

Brooke's Note: Schwab CEO Walt Bettinger keeps pulling rabbits out of hats much in the way his predecessor, Chuck Schwab, did for decades. It's the classic Schwab play: use scale and competence to do things better and cheaper. The challenge with that two-pronged strategy is ...

0 Comments
Dave Welling: Joe [Duran] does a reasonable job but we're further out on the spectrum of integration.

Determined to out-Joe-Duran Duran's United Capital, Dave Welling moves his $12B roll-up's HQ to Denver

As Mercer's torrid growth accelerates, its new CEO will hyper-unify investments and operations, make deals, pit software vendors against each other and hire like crazy

February 14, 2018 — 6:18 PM UTC by Brooke Southall

Brooke's Note: One measure of how fast Mercer Advisors is moving: When I asked its new CEO Dave Welling about whether his family would soon join him in his move from Santa Barbara to Denver, he said yes -- but then reminded me that they ...

1 Comment
Joel Bruckenstein: MoneyGuidePro is looking to grow into the more complicated planning space with larger RIAs and family offices, where eMoney has been the tool of choice.

At T3 eMoney and MoneyGuidePro redraw the lines of battle and post-API-era blockchain discussion begins

Financial planning software giants zig to each other's zags, Ric Edelman rips the robos and Joel Bruckenstein bobbles

February 12, 2018 — 10:29 PM UTC by Graham Thomas

Brooke's Note: The buzz surrounding technology rises and falls like the recent stock market. Right now it seems muted -- but for RIA software vendors it's always on full blast. See: How tech vendors pierced the glare generated by Fidelity's uni-bundle to get their message ...

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SPDR® Portfolio ETFs. Because in life, every little bip counts.

SPDR® Portfolio ETFs
Because in life, every little bip counts.

1993624.1.1.NA.RTL
HighTower deal includes long-term contract for Elliot Weissbluth.

HighTower closes $450-million deal that ups advisor stake, inks deal with Elliot Weissbluth

The Chicago-based roll-up sold '50-60%' stake -- for $350 million plus $100 million

February 10, 2018 — 12:40 AM UTC by Brooke Southall

Brooke's Note: I wouldn't call this closing anticlimactic. HighTower has gone through the crucible of changing its business model and changing out its main investors all at once and from the outside it sometimes looked like nothing but pain. Still, you wondered why ...

1 Comment
Jason Roberts: What caught me off guard is that Fidelity says it is going to give advice to plans and participants.

Why exactly Fidelity chose 2018 to levy visible .05% 401(k) surcharge on Vanguard funds

After an abrupt business model shift from recordkeeper to advisor, the Boston-based 401(k) king may be a leader in fee 'levelization' that encourages other fund firms to act

February 9, 2018 — 6:10 PM UTC by By Lisa Shidler

Brooke's Note: My advice: When the stock market drops 500 points, don't read much into it. When Fidelity's 401(k) division raises a price five one-hundredths-of-a-percent on a limited subset of new plan sponsors, read too much into it. So much has ...

0 Comments
Roger Lee (r. w/Paul Sawaya): Rather than just sit on top of Fidelity, we took on a challenge that was a little bit bigger.

Unknown San Francisco 401(k) robo with famous backers gets $11 million more in VC funding -- and an interesting brand

With Y Combinator start, Human Interest, formerly Captain401, is only in its third year but 10,000 customers convinced Adam Nash, Joe Montana and Sequoia-, Accel-derived VC

February 8, 2018 — 12:10 AM UTC by Brooke Southall

Brooke's Note: Doing a robo-advisor startup in 2015 seems late so you'd better get the branding right. This little robo, Captain401 is checking every branding box. The first branding challenge is to find a founder who went to Harvard. Check. Next branding challenge is for ...

0 Comments
Aaron Klein: We're shifting from scale to surgeon.

Riskalyze tromps onto Envestnet turf by signing $20-billion, 975-advisor account with its robo-manager

Aaron Klein's Autopilot takes aim at 65% of advisors who find TAMPs are both expensive and too much abdication of portfolio management customization

February 6, 2018 — 10:26 PM UTC by Brooke Southall

Brooke's Note: Until now hybrid IBD/IAR reps had to make a hard decision that was either to embrace a TAMP relationship or not -- and each model had big potential drawbacks. Using a TAMP is a huge scale advantage and a huge compliance advantage ...

1 Comment

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