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Why Joe Duran is dead wrong on 2015 marking the end of the Golden Era of the RIA

The serial entrepeneur's column in InvestmentNews forgets that RIAs are also advancing and that the 'new competitors' carry baggage and have fatal shortcomings

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Being heedless of competitors is dangerous but crying wolf has its own perils.

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Marc Spilker adds Matt Brinker as chess piece -- and partner -- in what he calls a 'very selective' talent add to build platform-for-RIA platforms outside Wall Street

Merchant Investment Management's executive chairman wants good people good at their job and Brinker likes having a breakaway Goldman partner rather than one captive to the Wall Street giant.

January 15, 2020 at 2:42 AM

Goldman Sachs & Co. appoints Rachel Schnoll to yank off United Capital band-aid that Joe Duran didn't -- making FinLife work with non-UC applications

The New York-based investment bank has the cash and people to do the combinations -- especially Goldman software -- that the roll-up's founder couldn't afford or didn't want to advantage

November 8, 2019 at 4:52 AM

Goldman Sachs closes United Capital deal and Matt Brinker, Joe Duran's wingman, exits with social media swan song on same day

The M&A chief's departure from the Newport Beach, Calif. roll-up may signal that its rolling-up days are over

July 18, 2019 at 6:13 PM

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 at 2:20 AM

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Mentioned in this article:

MarketCounsel | Hamburger Law Firm
Consulting Firm, Compliance Expert, Legal Services for RIAs
Top Executive: Brian Hamburger

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff




MisterRIA

MisterRIA

September 15, 2014 — 6:06 PM

Well I don’t think he knows who will win in the future… but I sure know why he’s saying this… he wants you to give up your independence and join his firm. It’s a totally self serving argument he’s making so take it with a grain of salt.

LCD

LCD

September 15, 2014 — 7:05 PM

I always enjoy reading Joe’s commentary but my takeaway is always the same – is he doing a roll-up financial advisors or is he doing a roll up shrinks as everything he seems to promote revolves around the interpersonal relationship between parties and little else. It is amazing to me how just about every middle man in all facets of the industry whether it be robo advisors, roll ups, tamps and most BD’s are so dismissive of the investment management component of financial advice. They all say that it is nothing more than a commodity and every study says that investment performance is very low on the list of what clients want. Is this really true or is it because the industry at large is ill equipped to deliver high quality investment advice in a scalable way. I am part of a boutique RIA that does nothing but investment management that takes a holistic approach combining indexing, SMAs and Alternatives (no liquid alts ,thankyou) and from our perspective and our clients response this seems to be exactly what they want, someone who will create high quality, fairly priced, transparent and non conflicted portfolios that meet their needs. Maybe it is the distributors that are the commodities not us.

Grant Barger

Grant Barger

September 15, 2014 — 9:17 PM

I am picking up a subtle WWE vibe with the cage match scheduled for Wednesday! There have always been threats… and they are all real to varying degrees to each advisor… I would think he was going to offer some solutions in the later portion of the series… something leading to 2020 Advisor Vision… but maybe he wasn’t… I am looking forward to hearing your solutions on Wednesday.

Jeff Spears

Jeff Spears

September 16, 2014 — 4:27 PM

Why do we have to make catastrophic claims to get people’s attention? I guess if you keep making these claims you will eventually be correct. CNBC pundits do it everyday….

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