New class of robos lay siege to 'antiquated' target-date-funds (TDF) market; even defender of the 401(k) citadel, Vanguard, sees handwriting on the wall
Fidelity, Ascensus, and Morningstar are all making 401(k) moves that could see automated advice replace the Vanguard-dominated TDF market but maybe Vanguard just woke up in time to cannibalize the market itself.
![Ron Surz](/_next/image?url=https%3A%2F%2Fwww.gravatar.com%2Favatar.php%3Fgravatar_id%3Dec39b288372a634f54dd1b603d1c0962%26default%3Dhttps%253A%252F%252Fucarecdn.com%252F0b5addcb-6e7e-48f1-9e88-2279491e69b9%252Fiphonelogo.png%26size%3D50&w=1200&q=75)
Ron Surz
![BRUCE](/_next/image?url=https%3A%2F%2Fwww.gravatar.com%2Favatar.php%3Fgravatar_id%3D1e2bcc4e50fafb04e8779608285625fb%26default%3Dhttps%253A%252F%252Fucarecdn.com%252F0b5addcb-6e7e-48f1-9e88-2279491e69b9%252Fiphonelogo.png%26size%3D50&w=1200&q=75)
BRUCE
![Naverno](/_next/image?url=https%3A%2F%2Fwww.gravatar.com%2Favatar.php%3Fgravatar_id%3Db6520a795cd6216adbcfcaaa3a7ee91a%26default%3Dhttps%253A%252F%252Fucarecdn.com%252F0b5addcb-6e7e-48f1-9e88-2279491e69b9%252Fiphonelogo.png%26size%3D50&w=1200&q=75)
Naverno
![brooke](/_next/image?url=https%3A%2F%2Fwww.gravatar.com%2Favatar.php%3Fgravatar_id%3D6f4a424d92ece9aa2d337cd01888f9e6%26default%3Dhttps%253A%252F%252Fucarecdn.com%252F0b5addcb-6e7e-48f1-9e88-2279491e69b9%252Fiphonelogo.png%26size%3D50&w=1200&q=75)
brooke
![Ron Surz](/_next/image?url=https%3A%2F%2Fwww.gravatar.com%2Favatar.php%3Fgravatar_id%3D96fcffae75d33eaafe8c8264c866526a%26default%3Dhttps%253A%252F%252Fucarecdn.com%252F0b5addcb-6e7e-48f1-9e88-2279491e69b9%252Fiphonelogo.png%26size%3D50&w=1200&q=75)
Ron Surz
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PB
Related Moves
Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer
Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
June 29, 2024 at 3:00 AM
Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k
Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.
June 7, 2024 at 1:44 AM
Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance
Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.
March 25, 2023 at 1:32 AM
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
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