RIABiz

Brian Hamburger (left): I don't want people up there patting each other on the back.

Brian Hamburger convinces his FSI nemesis to debate him in Las Vegas, after trips to San Francisco and Washington

The pressure to create fireworks for a big, bright line-up of 'faculty' and attendees meant finding common cause with Dale Brown based on their lack common ground about how advisors should be regulated

November 17, 2018 — 12:22 AM UTC by Brooke Southall

Brooke's Note: Whether it's Chip Roame, Dan Seivert, Aaron Klein or Brian Hamburger, who represent management consulting, M&A, risk management and compliance as it pertains to financial advice, they are all rip-roaring excited to talk about their conferences. All of the events succeed ...

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New Moves in the Biz

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Co-founder Justin Wisz is out at Vestorly, and neither party is commenting; but some jarring Glassdoor reviews of the ex-CEO raise eyebrows

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With his CEO hell-bent for election, Bronfman Rothschild president Michael LaMena reunites Fortigent's terrible two with a key poach

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Capital Group miraculously recovered after deep 2008 dive but RIA help may get No. 2 American Funds through the next downturn under new CEO

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John Clendening tells analyst who asks about Bob Oros's H.D. Vest departure: 'You can read into that whatever you want to.'

Susan Colpitts: We are fortunate to be able to expand the use of our professionals' expertise.

Signature Family Wealth Advisors, loses a founder and sells to the original 'Alex. Brown' $67-billion RIA

Founded in 1994 by Anne Shumadine and Susan Colpitts, the Norfolk, Va.-baased RIA has $4.3 billion of assets to tuck into Brown Advisory with its more Old Boy culture

November 16, 2018 — 10:07 PM UTC by Brooke Southall

Brooke's Note: There remains a third model of RIA that works on its own client compact and Brown Advisory is one of them. Basically these remnants of investment banks work with ultra-high-net-worth clients who value extreme discretion about how embarrassingly wealthy they are. In turn, clients stay ...

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Abby Johnson looks awfully smart after free index funds take off

Abby Johnson finally breaks through the glass ceiling at Fidelity Investments and now she's busy taking big-time -- if calculated -- risks worthy of her father's legacy

Like father, like daughter? Fidelity CEO Abby Johnson shows all the signs that she's determined to leave her mark on the family's $7.2 trillion financial dynasty

November 14, 2018 — 10:06 PM UTC by Keith Girard

Brooke's Note: Fidelity Investments has always walked that razor's edge between carrying itself like a big, oppressive bank [though ironically it doesn't own one] and the cutting-edge of innovation. In fact that yin-yang duality may be what defines the company. It's ...

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How satisfied are your most valuable clients? They may be expecting more than just advice.

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Louis Diamond: Cetera [isn't] unstable, but new ownership is a time for advisers to reevaluate.

Oisin's Bits: Focus Financial shares crater after Rudy Adolf's answers to analysts fail to mollify; RIAs get negotiating boost as T.Rowe 'proves' plans boost profits, but is it a fallacy?; and Genstar's tenure as Cetera' owner has started with a bloody nose, despite more than half a billion inflows

Roll-up model meets Wall Street analysts; T.Rowe Price’s latest report posits that 401(k) plans are a rocket for corporate profitability; and private equity firm Genstar Capital's deep pockets have so far failed to turn the tide in Cetera's bitter rivalry with LPL

November 13, 2018 — 10:30 PM UTC by Oisin Breen

Brooke's Note: One big question about Focus Financial was how Rudy Adolf's self-assured style would wash on Wall Street. I listened to the thrid quarter earnings call; the tension was palpable. The tension "tell" was that after Adolf responded to questions, the analysts -- typically ...

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Joshua Pace: Until you have a big brand, it's hard to grab their attention.

E*Trade gets Ric Edelman as an RIA custody client in 'expansive custody relationship,' but don't ask what that means

The New York-based online broker will fuel Financial Engines with referrals and house the assets with Trust Company of America unit

November 12, 2018 — 10:10 PM UTC by Brooke Southall

Brooke's Note: RIA custody has been as sleepy as technology has been hot for several years running now. But a new breed is rising of aggressive tech-forward RIA custodians, like Apex, DriveWealth, Folio and Trust Company of America. The truth is that these players ...

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Dan Arnold: An unauthorized user appears to have gained access to personally identifiable information. The incident, which is under investigation, impacted several of the vendor’s [Capital Forensics] customers, including LPL ... We deeply regret this unfortunate security incident.

Oisin's Bits: LPL hacked through Capital Forensics' breach, leaks personal info, account numbers; Victory Capital's shares spiral higher on USAA buy; Kore Alliance goes to teaching UHNW kids thrift; Lightyear Capital’s mini roll-up keeps buying, nearing $10 billion target

The year-old non-profit groups 50 ultra-high-net-worth family offices into the Kore Alliance; and the Lightyear Capital-owned roll-up Wealth Enhancement Group makes its third acquisition this year bringing it closer to a $10 billion client assets target.

November 9, 2018 — 7:46 PM UTC by Oisin Breen

Brooke's Note: The obnoxious acronym UHNW might as well be a DNA strand. If you are worth $100 million, or $1 billion, then the money doesn't really belong to you, or barely even your children. It's so much money that it belongs ...

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Alap Shah: This system is built for efficiency and that’s where we shine.

Sentieo gets $19 million backer after palm-held 'Bloomberg terminal' wins 700 hedge fund and RIA clients

In very all-Silicon Valley deal, start-up's CEO Alap Shah got former myCFO director as customer then convinced him to back his venture to the hilt

November 8, 2018 — 7:17 PM UTC by Lisa Shidler

Brooke's Note: RIAs are rising. Asset managers are falling -- largely because RIAs are moving assets to passive investments. Hedge-fund managers are hanging in there by being ultra-active, so to speak. So what would happen if some RIAs could mimic hedge funds' constructive hyper-activity and take some ...

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Brian Hamburger convinces his FSI nemesis to debate him in Las Vegas, after trips to San Francisco and Washington

New Moves in the Biz

Signature Family Wealth Advisors, loses a founder and sells to the original 'Alex. Brown' $67-billion RIA

Abby Johnson finally breaks through the glass ceiling at Fidelity Investments and now she's busy taking big-time -- if calculated -- risks worthy of her father's legacy

How satisfied are your most valuable clients? They may be expecting more than just advice.

Oisin's Bits: Focus Financial shares crater after Rudy Adolf's answers to analysts fail to mollify; RIAs get negotiating boost as T.Rowe 'proves' plans boost profits, but is it a fallacy?; and Genstar's tenure as Cetera' owner has started with a bloody nose, despite more than half a billion inflows

E*Trade gets Ric Edelman as an RIA custody client in 'expansive custody relationship,' but don't ask what that means

Oisin's Bits: LPL hacked through Capital Forensics' breach, leaks personal info, account numbers; Victory Capital's shares spiral higher on USAA buy; Kore Alliance goes to teaching UHNW kids thrift; Lightyear Capital’s mini roll-up keeps buying, nearing $10 billion target

Sentieo gets $19 million backer after palm-held 'Bloomberg terminal' wins 700 hedge fund and RIA clients

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