Big Midwestern RIA hires away a Fidelity exec to realize its $50 billion plan
Mariner Wealth Advisors has reached a critical size where professional management is called for
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 – 2:02 AM
Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift
Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
March 13, 2020 – 10:36 PM
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 – 4:30 AM
Capital Group miraculously recovered after deep 2008 dive but RIA help may get No. 2 American Funds through the next downturn under new CEO
Matthew O’Connor takes the CEO helm of the giant LA-based active manager from Kevin Clifford with conviction not to jam the rudder hard but to be open to new markets
November 2, 2018 – 9:26 PM
Elmer Rich III
There is good and growing research from the likes of University of Chicago business school and McKinsey consulting that the only factor in a businesses’ success is whether the firm is in a growing market or not.
Business processes, leadership/people, marketing, technology, etc. appear to matter little if a firm is sailing with the “winds” of demand or against them.
We find the best guidance we give our client is to avoid markets with no current demand and to hyper-focus on the parts of their business where clients are clamoring for services and products.
Often that is hard. Our own ideas, plans, wishes and certainties get in the way.