Jack Bogle steps aside as senior standards chairman at Advizent
The Vanguard legend reportedly had competing interests for his time
Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies
The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
May 18, 2023 at 1:46 AM
RIA Quick Takes: Orion deepens DFA embrace by using it as portfolio manager-inside-ETF ~ Hardship withdrawals surge at Vanguard and Fidelity ~ Schwab hires 400 ~ Fidelity flips six funds into ETFs ~ Kitces makes list before Christmas ~ Amit Dogra has $1 billion of good news from his new Portland gig
Americans are struggling, though jobs are plentiful; Larry Fink's ESG zeal costs BlackRock another client, just as the Vatican issues ESG guidance; UBS says we didn't like you anyway to mass affluent and Michael Kitces and Craig Iskowitz join forces.
December 3, 2022 at 3:16 AM
AssetMark suddenly parts ways with president/CEO Charles Goldman; protégé Natalie Wolfsen named CEO; Michael Kim president
AssetMark chairwoman Xiaoning Jiao provided no details, faint praise for Goldman amid his unexpected departure, but was effusive over Wolfsen appointment.
February 24, 2021 at 3:31 AM
The cultural, process, technological and work flow challenges required to expertly manage fiduciary liability so fiduciary standing is safe, scalable, easy to execute and manage in fact, not just in principle, are daunting.
Though the three men cited that chair the Advizment Standards initiative are imopressive, an incredible amount of work is required along with the necessary resources to craft an expert, safe, scalable, easy to execute and manage fiduciary solution. Without the necessary work and proper resourcing—we should not expect to show much from such an initiative.Everyone wants to talk about fiduciary standing as talk is cheap, how about actually creating an actionable authenticated prudent investment process which actually brings fiduciary standing within the reach of every advisor?