How U.S. Bank appeared on the scene as an RIA custodian and where it might find love
Though the brand seems to scream out Generic Retail Bank, its Cincinnati RIA unit see room to wrest share from bigger, more faceless banks and the smaller brokerages
Legg Mason Investment Counsel|
Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings
Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'
January 19, 2023 at 3:31 AM
Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far
The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.
March 9, 2023 at 1:23 AM
Why FINRA's late appearance into smoothie-throwing broker James Iannazzo's life might be rough
It's been about 11 months since Merrill Lynch fired him, and the CFP Board stripped him of the CFP mark; attracting the SRO's attention means more woes.
December 29, 2022 at 1:05 AM
Behind the scenes, Ben Harrison's rise to replace Mark Tibergien at Pershing was more shock and awe than a symphonic succession
Harrison's appointment was baked in the cake -- or not -- and Tibergien departed with Swiss-watch precision in Moss Adams-style--or not.
March 13, 2020 at 7:22 AM
See more related moves
SEI Advisor Network
Top Executive: Wayne Withrow
US Bank can easily win massive traction inthe RIA space largely based on the limitations of advice product platforms which can not afford advisors professional standing.. As an early adopter of overlay management technology (Smartleaf), all US Bank has to do is to show advisors how they can cut 100 bps out of portfolio construction and control their value proposition, professional standing and their margins while providing their clients a preemptive value proposition relative to advice products at a lower cost and 50% better compensation to the advisor.
Pretty simple…if you know how.
The nay sayers think think advice products constitute advice, when advice product sponsoring firms are quick to acknowledge that no advice is rendered alleviating them from supporting the professional standing of the brokers who use their services.
US Bank can easily resolve this and win massive market share in the process.
Elmer Rich III
We have worked with USB in past. Good organization. However, the point about a zero sum game with share is true. Still, we think there are under-marketed segments of this market.