News, Vision & Voice for the Advisory Community


Olivia Eisinger convinced Apex to hire dozens of her fellow ex-TDA staff to 'reimagine' VEO and the service and now it's an RIA custody deliverable with a Big-Four-or-bust mandate -- and some analyst doubts

Now head of RIA custody leading loyal people like George Tamer, she re-platooned, Eisinger doesn't plan to compete much with Altruist because Apex plans to go straight after bigger RIAs, not startups -- perhaps with foot-in-the-door beginnings to prove itself.

Author Oisin Breen April 5, 2024 at 1:48 AM
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Olivia Eisinger: it's about time that the industry wakes up and embraces the massive opportunity driven by the demand for quality financial advice in front of us.
Brooke Southall and Keith Girard contributed to the editing of this article.

RIA Custodians


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April 5, 2024 — 3:33 AM
Is there any additional disclosure or definition you are able to provide regarding the statement "The Big Three control 80% of the RIA custody market measured by assets. With LPL included, this figure leaps to 84%" Is 'RIA custody market' only inclusive of Independent Fiduciaries and does it exclude Self Directed?


April 5, 2024 — 11:24 AM
Hi @Bo, Aye, these figures typically come from Cerulli Associates, who track this stuff pretty well. Here's a study from last year, for instance: https://www.cerulli.com/press-releases/one-in-four-rias-are-exploring-adding-a-custodian-in-the-next-year The numbers do tend to stick around these points in my experience. I don't believe it includes self-directed, no. As we're talking specifically RIAs, but I'd suggest you give Cerulli a ping if you want to delve deeper into it :) Hope that helps!

Related Moves

October 11, 2022 at 12:40 AM

Tricia Rothschild is out at Apex in run-up to $4.7 billion IPO as an ex-Goldman exec assumes her day-to-day role and two ringers fill big jobs

The ex-Morningstar exec leaves president role after one year as ex-Google and ex-Nasdaq talents step into new CTO and CMO posts.

July 14, 2021 at 7:04 PM

Tom Valverde is out at Apex, leaving Tricia Rothschild to take the reins as RIA chief, for now

The former Pershing and Fidelity sales czar confirmed he left Apex 'voluntarily' Feb. 25 amid a flurry of no comments.

February 26, 2021 at 10:53 PM

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