With McKinsey helping to up its 'efficiency,' Vanguard Group does eye-opening client acquisition deal with American Express that layers a big fee onto financial planning offering that the two firms roughly split
The New York card company will charge 50 basis points for Vanguard advice then share half that revenue with Vanguard.
George Papadopoulos
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Vanguard's deal with Blackstone follows its bleak, almost black, market prognosis • SSGA launches another 'Apollo' product, sans Apollo brand • SEC OKs 'green' exchange • Senators call out Trump 'fraud' in letter to new SEC chair
Recession signals grow • Confirmed as chair, SEC's Atkins faces Trump decision • InvestCloud nabs ex-Envestnet COO • Tibergien protégé lands at RIA • RIAs still see direct-indexing as a solution hunting for a problem • Software companies hire & launch.
April 18, 2025 at 2:26 AM
2025 will be the year of 'Under New Management' in RIA business, after 2024 brought profusion of CEO-level fires, hires and deals
First seven CEOs were replaced, then myriad big HR dominoes fell as Vanguard, Schwab, Envestnet, InvestCloud, LPL, Cetera and Orion all switched out CEOs and presidents
January 2, 2025 at 10:49 PM
Sleeping giant McKinsey & Co. hires Eric Clarke as it awakens to $9-trillion RIA business and plays catch-up
The New York City consulting giant quietly made the Orion founder and ex-CEO a McKinsey senior advisor two months after he stepped down last year.
May 30, 2024 at 1:35 AM
Tim Buckley sends shockwaves by retiring as Vanguard CEO after adding $750 billion per year during his stay in the executive suite
The 54 year-old lasted just over six years in the job, delivered on targets, but he also made head-scratching decisions and never solved its technology woes
March 1, 2024 at 3:35 AM
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