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Schwab CTO's speech in NYC spotlights an RIA business addicted to innovation – with no fresh fix in sight

Timothy Heier set the lower-morale tone at In|Vest 2017 of a B2B industry waiting for a Mark Zuckerberg to push it forward again -- perhaps with artificial intelligence as the final frontier

Author Janice Kirkel
July 20, 2017 at 9:37 PM
no description available
Mike Sha (center): We’re not gonna disrupt a crusty industry. Discretion is the better part of valor for start-up people.

Related Moves

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

Alois Pirker sets up shop in Marblehead by taking a page from the RIAs he advises

The former Aite-Novarica consulting chief wants the latitude of Pirker Partners to take the gigs he wants and avoid corporate consulting economics -- namely selling reports.

January 21, 2023 at 5:03 AM

Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo

The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says

January 7, 2023 at 1:50 AM

Dimensional Fund Advisors, long the flagship of factor investing, struggles to chart a course as a nimble rival and big foot competitors cut into its market--and exploit its slow move to ETFs

Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'

August 9, 2022 at 1:57 AM

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Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

Portfolio Management System
Top Executive: Andy Rachleff

Aite Group
Consulting Firm
Top Executive: Frank Rizza

Betterment, LLC
Financial Planning Software
Top Executive: Jon Stein

Portfolio Management System
Top Executive: Anton Honikman

Ken Fisher

Ken Fisher

July 25, 2017 — 8:45 PM
“Right on. “Asset monarchs” are so yesterday. And market share? Now? Boring. Stodge-podge. Gotta be the disruptor. Be cool. Artificial intelligence. That’s the thing. Beats the heck out of intelligence. Everyone knows that. Intelligence is for such losers. I want to be the guy who hits conferences in hip threads with everyone drooling over my erudite futurism, so cleverly ahead of everyone else that saliva is running everywhere. I love it when people drool and I be cool. If I could just sit in some chair by a silicon valley window somewhere and gaze off into 2032 realities to bring back to enlighten and amaze. And deliver to all, as if I was Meryl Streep on a rant. Wouldn’t that be cool! I’d be something. Wait! I got it. Johnny Depp Wealth Advisors. That’s the ticket. ‘Course I’d need a goatee and a hat. But disrupting. And cool! Right on. Oh, yeah! I forgot. I got a lotta class and all of its low and lotsa of taste and all of its bad. Oh well. I wonder what clients like? Another week down.”

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