RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Dissecting Blucora's giant act of financial engineering -- adding a broker-dealer to a software roll-up

M&A expert Bill Ruckelshaus' Bellevue company is paying $580 million for H.D. Vest, a crazy price by some measures but not if 5.5 million existing Blucora customers can be cross-sold

Author Kelly O'Mara December 15, 2015 at 6:28 PM
no description available
Bill Ruckelshaus: The company will be a one-stop shop for tax advisors.

Stephen Winks

Stephen Winks

December 15, 2015 — 9:36 PM

Wealthcare maybe the key to making Blucora/TaxAct work. Technical competency in accounting (Accounting Standards Board) and in Advisory services (by statute, case law and regulatory opinion letters) are perfectly aligned. If WealthCare were to actually offer/support fiduciary duty (presently not available elsewhere) and would become the first firm to create the four essential financial services (1.Asset/Liability Study, 2. Investment Policy, 3 Portfolio Construction, 4. Performance Monitor) authenticated back to statute to assure fiduciary duty and professional standing; it could empower Blucora with a preemptive value proposition at a lower cost than Wells Fargo was willing to advance. Its all about Blucora’s vision and its interest in professional standing demonstably in the client’s best interest. Sounds very attractive. Most advisors would love it.

SCW
Stephen Winks


Related Moves

Fidelity Investments' plan to hire 12,000 by October hit wall of macro-headwinds; no problem, it landed at 15,000; Schwab keeps hiring, too

The Boston giant's people grab could be derailed by indigestion -- the inability to assimilate staff -- an analyst says; but it has yet to materialize so the hiring spree rolls on.

October 29, 2022 at 12:02 AM

Pershing poaches a chief operating officer from Goldman Sachs, citing her experience doing client-onboarding revamps as a key

The Jersey City, N.J., clearing and custody company hired Emily Schlosser to fill the talent gap when Lori Hardwick left in 2017

July 23, 2020 at 11:19 PM

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

Oleg Tishkevich builds instant McKinsey-killer in RIA consulting by offering gigs and equity to six solo stars, but good luck managing egos and economics, says someone who's been there

The restless Invent.us founder names (thus far) Tim Welsh, Suzanne Siracuse, Gavin Spitzner, Mark Hollingsworth and Brian Bleasdell as owners in exchange for being on call to tackle big gigs as a superteam

September 10, 2019 at 10:52 PM

See more related moves

Mentioned in this article:

Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo