You already know the 80/20 rule. Here's how you can apply it not only to your clients but your operations.
The trick this VC used when talking to entrepreneurs
Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say
The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.
December 31, 2020 – 4:37 AM
Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out
The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.
August 14, 2021 – 2:20 AM
Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up
Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.
July 3, 2020 – 1:12 AM
Portfolio Management System
Top Executive: Andy Rachleff
Excellent post. I could not agree more with the advice to advisors to focus on what you do best and outsource the rest. We see too many advisors and firms attempting to put together the pieces of puzzle necessary to operate an RIA and struggling to establish and continue to operate the infrastructure they need. Without substantial scale and resources to insource technology, operations, investment management, and compliance, operators are faced with on-going challenges.
In my day to day reporting for RIABiz, I am seeing more and more outsourcing by advisors. I attribute it to both the rising quantity and quality of outsourcing services available and to the growing understanding of RIAs about its importance. Some of this understanding can be attributed to wirehouse brokers who were accustomed to entrusting giant de facto outsourcers — their employers.
I like that Andy used hedge funds as an example in this article.