Mark Hurley's lawsuit references his "secret sauce" and how he got overtly tossed.

In new $150-million lawsuit, Mark Hurley alleges ex-boss's smears wrecked his valuation, his reputation and his chances of providing capital to RIAs ever again

The trump card for the maverick ex Fiduciary Network CEO was to open across the street with new backers, but the filing clams he may not have that play anymore

2 hours ago by Brooke Southall

Brooke's Note: The presumption of outsiders regarding Hurley v. Howard (Milstein) is that it represents a titanic clash of egos. In his new lawsuit, Hurley  presents lots of real information to parse but the subtext, too, is unmistakable: Hurley is irreplaceable and replacing him ...

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Brooke Southall asks questions of Andrew Salesky of Schwab, Christina Townsend of Pershing, Greg Vigrass of Folio Institutional and Chris Fesler of Apex Clearing.

Andrew Salesky's tantalizing PortfolioConnect remark hints at Schwab's technology future, and 'open' or 'closed' -- that was API question at In|Vest West 2018 RIA custody panel

The Schwab technology chief may have stumbled on a strategy for big RIAs, but he also got challenged on his API philosophy by Apex Clearing's Chris Fesler

December 11, 2018 — 11:48 PM UTC by Brooke Southall

Brooke's Note: This article has a self-serving aspect; I moderated one of the panels. But it's not totally disingenuous. In|Vest West was produced by SourceMedia, the same company that publishes Financial Planning, a competitor of RIABiz. I've been a fan of In|Vest since ...

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Scott MacKillop: Anyone ever involved in fundraising for a new venture knows how time consuming and emotionally draining it is. Now that we are financially secure for the foreseeable we can focus on the positive aspects ... I have a smile on my face again and my creative juices are flowing.

Liberated (in part) by an Envestnet deal, Scott MacKillop isn't ho-humming a second-round infusion of $1.5 million

Asking first-round funding friends and family to extend support stressed out First Ascent's CEO but the fresh capital arrives as new sources of asset inflows kick in

December 10, 2018 — 11:25 PM UTC by Oisin Breen

Brooke's Note: There are low fees, high fees, hidden fees, transparent fees, performance fees and maybe a few others. What they all share is a bias against people who invest larger balances. The XY Planning Network is countering this trend on a larger level ...

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

Mike Durbin: We have a chip on every square on the table.

Mike Durbin speech spellbinds; David Kowach prompts head-scratching and Brian Hamburger-Dale Brown showdown has one tense moment at Market Counsel Summit

The Fidelity exec shows forward thinking; the Wells Fargo exec talks branded RIAs and the cage match ... not so much

December 8, 2018 — 5:06 AM UTC by Graham Thomas

The Market Counsel Summit had many recognizable speakers in its line-up and one that left RIA audience members truly impressed and grateful -- with an oft-contrarian RIA view.

A prepared and polished Mike Durbin convinced a skeptical Las Vegas audience of peers and clientele that his firm is ...

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Colleen Bell: “We see this as an opportunity”

Lisa's Bits: Commonwealth and Cambridge jump into RIA custody game bigger; Goldman Sachs buys $600-billion 401(k) RIA as Wells Fargo reportedly eyes 401(k) exit ; Mercer does four deals in one month; LPL slashes an important advisor fee; A $13 billion advisor's fate is uncertain

Commonwealth launches its own RIA unit, Mercer goes on a one-month buying spree; Wells Fargo seeks to escape retirement low margins and Goldman buys in; Cresset looks to reinvent itself,

December 7, 2018 — 6:36 PM UTC by By Lisa Shidler

Brooke's Note: For several years, RIA pundits have predicted a wirehouse would become an RIA custodian. The truth is: All wirehouses do some RIA custody already -- especially Merrill Lynch and Morgan Stanley. Wells Fargo now has a testing paw in the RIA stream So ...

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Raef Lee: If the advisor is willing to put the time and effort in, we’ll cover the cost … [and] we have a formidable platform in place to do all the heavy lifting.

SEI targets the 60% of its book that are planning virgins with Advizr's 'lite' planning software -- an MRI on held-away assets and way to boost SEI products sales

The Oaks, Pa.-based TAMP plans is to lure reps with the 'nibbling' software maker it part owns with a buy-one-get-one-free coaching and planning deal

December 5, 2018 — 11:03 PM UTC by Oisin Breen

Brooke's Note: One of the knocks on the old-line stockbroker was that he (yes, I'm envisioning a "he") did everything a little too piecemeal. He'd do a slug of investing here and offer another dose of financial planning advice there as he ...

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David Lau: I don’t believe any of these moves independently are major. What is major are the moves as a collective. Allianz is clearly placing a lot of focus on becoming a big player in the RIA space

Decades-old stench of annuity sales and deception hangs heavy, but very 2018 efforts by DPL, Nationwide, Allianz and others offer whiff of hope of cracking the RIA market

As RIAs kick stockbroker butt, old-line insurers like Nationwide are taking the RIA fee-based and open-architecture model seriously -- because they have to -- and target the $2 trillion fixed-income aspect of RIA portfolios.

December 5, 2018 — 8:40 PM UTC by Oisin Breen

Brooke's Note: It is surprising on one level just how much RIAs cringe at the word "annuities." After all, no other product short of an old-line defined benefit program provides the kind of sleep-at-night income security of one of these much maligned products. The ...

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