GeoWealth raises $19 Million to out-tech Orion, SEI, AssetMark and Envestnet on RIA outsourcing but then goes after their talent, too
The Chicago TAMP grew fourfold in four years before J.P. Morgan Asset Management and Kayne Anderson Capital Advisors made a big investment in the recharged no-name
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Under new owner, AssetMark names new CEO, but Michael Kim is keeping his CEO job, too -- as post-TAMP era draws near, and company gears up for 'aggressive growth'
The Concord, Calif., TAMP is adding the second CEO to jack up leadership bandwidth to grow organically and inorganically -- and evolve into a more generalized outsourcer.
September 11, 2024 at 4:12 AM
SMArtX is loading up on Envestnet talent as re-peopling rolls on -- post Morningstar disruption -- with two hires from the Berwyn, Pa., TAMP
The West Palm Beach, Fla., TAMP is getting Courtney Robertiello and Jacqueline Burke, and their staggering 29 years of experience for 'growth and innovation,' the company says.
July 4, 2024 at 2:09 AM
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
Morningstar's sale of TAMP's $12-billion book-of-business to AssetMark ends two-year run that fell short on growth; whether RIAs stick or flee will determine fate of deal
Morningstar nets a cash windfall, a better distribution deal, and it reduces conflicts with its clients, but SMArtX is the likely loser, which will no longer administer Morningstar's TAMP assets.
June 24, 2024 at 11:48 PM
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Envestnet Inc
TAMP
Top Executive: Jud Bergman
