Could inStream be the Next Big Thing in RIA technology?
Alex Murguia is assembling a minor Dream Team of RIA execs including Zohar Swaine, but the revenue model is causing some consternation
A week after he became chairman of Eric Clarke's board, Charles Goldman is heading the search to replace Clarke as Orion CEO-- at Eric's direction
Eric Clarke founded Orion in 1999 and built it to a $3.6 trillion AUA juggernaut, but he believes both he and the company are ready for a big change
May 22, 2023 at 5:13 PM
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
Noreen Beaman steps down as president of Orion Advisor Solutions after Brinker migrates to Orion software and enterprise deals 'prove out'
The former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.
February 10, 2022 at 2:22 AM
See more related moves
Financial Planning Software
Top Executive: Alex Murguia
Portfolio Pathway LLC
Portfolio Management System, Trading/Rebalancing
Top Executive: Dave Miller
A no cost advisory platform is indeed unique and commoditizes a base point value proposition to which consumers can expect. It can also avoid comflicts of interest with a trading desk—the principle inhibitor to fiduciary standing. But, the question is whether this no cost model is self sustaining?If it is a window to refinancing mortgages at the most opportune time that is considerable value added. If it triggered the automatic evaluation of annuities and variable life, that would be significant value added. If it automatically triggered investment strategy shifts, that would add significant shifts. If it mathmatically weighted 50 plus client investment considerations so custom expert client portfolios were possible, that would be significant value added. If it aggregiated all the client’s holdings, that would be significant value added. If it ranked the probasbility of sucess in achieving objectives, that would be sigtnificant.
But then, what does the advisor do?
The virtues of technology are terrific, advancing technical competencies beyond the grasp of the individual advisor. Is this the first step at rendering the advisor obsolete?
Good supplemental information and bigger questions.
This sounds like a wonderful tool, but there will never be a true substitute for human intuiton and reasoning. Remember the old saying about data and computing — GIGO, “garbage in garbage out”.
Absolutely. The whole genesis of this initiative for me was to make advisors the center of it all! That is the only way it works. best//alex
Good Idea…of course it sounds very similar to emoney advisor, which has been around for about 12 years and offers a client web page, total aggregation of client data and updates the data daily, allowing for up to the minute planning. It also alerts the advisor if positions or account values drop, etc. Just sayin’
Yes, I think it is a great program- with Donald Sutherland to boot! I am a fan of any platform that strengthens an advisor’s value proposition as a wealth manager. best//alex
On a personal note: tools that innovate and streamline the management of client accounts and aid my decision making process give me immense satisfaction and help me sleep better at night.
Good points, incremental solutions have traditionally been very expensive and have limited applications, but free access changes the equation. Of course planning software as we know it today is an assemblage on desparate calculators with no overarching simplifying prudent process which speaks to fiduciary duty and professional standing.
I see what you mean if you are talking about programs like emoney, in their infancy, but in 12 years they have come a long way, just like Apple, Microsoft, Intuit, and every other software and hardware company out there. Additionally, they aren’t really talking about free access. It seems that for the money model to work, the advisor has to make specific vendor recommendations to the client. Those recommendations would be based on paid advertising, no matter how you word it. That smells like a conflict of interest. Mint, which I have used and appreciated, doesn’t have a compliance regulated advisor in between their recommendations and the client and so isn’t facing the same issue. Incidentally, while I have been a loyal and happy user of Mint, I haven’t used the vendors, because I know they are paid advertising and thus I find the recommendations suspect. Independent research has proven me right on a number of occasions. If the money model can’t work because of compliance issues, Insight will have to charge for services just like the companies already well established in this arena. They may or may not come up with a great product and I wish them well, I just found it odd that this piece wasn’t balanced by accurate comparisons to the big players already offering these services to advisors, albeit, at a price.
Zohar Swaine is a top-notch leader and I am confident he will help make InStream a significant player in the industry in the years to come – Mike Byrnes, President of Byrnes Consulting, LLC, www.byrnesconsulting.com
Tweeted this article out at @ByrnesConsultin
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