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Despite tepid net flows in 2020, Aperio finds its white knight; BlackRock makes a deal to compete with buyers of Parametric, Motif and Folio

The Sausalito, Calif., direct indexing firm's owner watched as competitors got snapped up by Morgan Stanley, Schwab and Goldman Sachs but ultimately scored a $1-billion offer from the giant's petty cash.

Author Brooke Southall November 26, 2020 at 1:42 AM
no description available
Liz Michaels will co-lead Aperio after her firm becomes a BlackRock subsidiary.

Brian Murphy

Brian Murphy

November 27, 2020 — 9:48 PM
The industry is moving in the direction of mass customization, and tax efficiency and the landscape will be much different for traditional investment advisors 5 years hence. I guess Aperio has their feet in both camps to some extent. Even though the deal is being done in cash, I'd suspect BLKs own overvalued stock (20x EBITD) helps justify the price.

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January 13, 2023 at 3:01 AM

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff

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July 26, 2023 at 2:34 AM

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April 29, 2023 at 1:36 AM

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