Morningstar buys a $30-million stake in SMArtX, gets two board seats -- and a puzzle piece to launch direct indexing later this year -- in the bargain
The Chicago money manager of $251 billion previously said it was supplanting InvestCloud's APL with a SMArtX rental; now it's purchasing a piece of the success it'll help assure
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'Spunky' SMArtX finessed its way to $31.5 billion and began a 'freemium' future, but its new CEO is hedging his bets by hiring a TAMP salesman with a track record that glitters like his own
Just 22 days after swapping the SMArtX presidency for the CEO spot, Jonathan Pincus got David Pologe to help sign on new RIAs and brokers and their client assets.
September 15, 2023 at 2:13 AM
Chafing at new 'governance,' Evan Rapoport resigns as SMArtX CEO, 15 months after Morningstar became its largest PE investor and giant customer -- and weeks after pivot toward 'freemium' strategy
The West Palm Beach entrepreneur 'endorses' the stictures that hastened his exit, but he's looking foward to green pastures unfettered by rules that more mature companies employ.
August 17, 2023 at 2:37 AM
Despite no 'clear, crisp ah-ha! moment,' Morningstar finally launches dedicated RIA bundle unit infused with direct indexing and clearer line to CEO Kunal Kapoor
The Chicago firm mandated Daniel Needham with money, mission and people for branded, one-stop back office for fiduciary RIAs
February 3, 2022 at 8:13 PM
With $4 million VC raise fresh in hand, SMArtX takes next step to shed Black Diamond shadow by hiring a president/COO who casts his own
.Jonathan Pincus took overseen assets at Northern Trust from $3 billion to $70 billion at his Chicago firm and learned about SMartX after in his old role
May 22, 2020 at 9:36 PM
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SMArtX Advisory Solutions
TAMP
Top Executive: Evan Rapoport
