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Jamie Dimon is late out of the gate, but vows to run twice as hard toward the RIA market, purchasing 55ip and advertising his hunger to buy more

The famed JPMorgan CEO scooped up a Boston-based model portfolio startup that has a very RIA book of business.

Wednesday, December 9, 2020 – 11:15 PM by Oisin Breen
Admin:
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The purchase of 55ip is JP Morgan's first, since Jamie Dimon announced a more "aggressive" M&A strategy earlier this year.

Related Moves

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 – 1:06 AM

Building a robo for RIAs with (maybe) no robo baggage, 55ip sizzles with hires as it makes Matt Abar a partner and strives to make 'risk' a profitable, four-letter word

The PhD-laden startup semi-bootstraps on $10-million of VC cash becomes a FinFolio client, a Riskalyze poacher and a VEO player with a book of real customers

April 2, 2019 – 6:11 PM



Brian Murphy

Brian Murphy

December 10, 2020 — 6:46 AM
Wall Street bank infatuation with RIA service providers is getting quite long in the tooth. What's on their agenda when the RIA layer gets dis-intermediated? Hasn't happened yet, but it's on its way.
Brooke Southall

Brooke Southall

December 10, 2020 — 7:08 AM
It seems fairly new to me. And, RIAs just keeping appropriating the missiles sent to sink them. So I think normal ways of analyzing upcoming disintermediation may not work on RIAs.
Jeff Spears

Jeff Spears

December 10, 2020 — 6:08 PM
Sounds like DFA2.0 to me.
Brian Murphy

Brian Murphy

December 10, 2020 — 9:20 PM
It seems to me that the model is - a) aquire the technology provider, b) build it into the banks offering while still retaining the client base, c) remove the original brand name (along the founder's incentives to keep innovating), d) slowly watch the client base bleed out over the next 3-5 years - moving on to the next generation of startup; typically doing similar stuff under a new guise...e) rinse and repeat. This has been going on since before Blackrock purchased FutureAdvisor 5 years ago. Fun to watch though...

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