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

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.

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.

Sounds like DFA2.0 to me.

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...