JPMorgan's reported balk on Personal Capital bid is latest Covid-19 M&A infection as Yodlee, Brinker, Orion sale claims also fade from the radar
Moelis is overseeing an 'auction' of the Redwood Shores, Calif., online RIA, which manages about $12 billion, and buyers are not ready to pay the $1 billion ask -- with JPMorgan Chase pulling out entirely, three sources told Barron's
Related Moves
Edelman Financial Engines new CEO will face challenges after AUM plummets $50 billion (since start of 2022) and DOL throws wrench in its business model, complicating efforts to convert robo-advised 401(k) assets to an 'Edelman' RIA
CEO Jay Shah must chart a new course after the 2018 merger of the radio superstar RIA and the 401(k) robo-advisor fails to yield invisioned growth.
July 11, 2023 at 2:46 AM
With IPO clock at 10-years and ticking, Personal Capital makes two big, out-of-character moves to go upmarket and downmarket
With $9 billion in assets, the Redwood City-based national RIA hired the ex-Virgin America CMO Porter Gale to make one brand investors associates with both the freebie tools and the full-priced financial advice its advisors provide mostly from call centers
