With Bitcoin soaring but mood still sour, SoFi shutters crypto unit and RIAs stay on sidelines, with SEC non-approval of ETFs as scapegoat
The San Francisco digital banking firm private-labeled Coinbase in 2019, but now the asset looks too risky because a misstep could harm bread-and-butter banking franchise.
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
John Bunch is out at Financial Engines Advisors after merger integration 80% complete; 'big reveal,' relaunch planned in coming months
The No. 2 man at the $181-billion RIA built a uniform client experience, but now has a chance to be CEO of VC-backed firm based in his hometown
