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Articles published 11/2016


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Aaron Klein [with chief of staff Evan Pope]: My Risk Number is 88 and it’s probably a pretty good guess as to why we waited so long before raising capital!

How Aaron Klein plans to make Riskalyze the epicenter of the RIA business with $20 million of fresh private equity money

The CEO startup already has 15,000 users but now he sees the Risk Number as the skeleton key for unlocking robo potential by eliminating two-tier, two-business problem for B2B robos

November 30, 2016 – 10:08 PM

Sallie Krawcheck: I thought we had left sexism behind us by the time I was in more senior roles. After all, we had complaint hotlines and diversity plans.

How Donald Trump jolted Sallie Krawcheck out of sexism denial, maybe, and the startlingly retro remedies she prescribes for young women

'Getting it' before and after Trump's upset victory takes on different casts, but the 'real key' to gender equality remains the same: get rich by investing well, says Krawcheck

November 29, 2016 – 8:16 PM

Craig Gordon: I have seen significant advancements and a huge commitment by RBC.

Once RBC's RIA face, Craig Gordon returns to the Minneapolis-based custodian psyched about City National purchase and NextCapital deal

Gordon is betting his career on the premise that RBC has gotten its act together in the two years he was away

November 28, 2016 – 8:58 PM

[Brian Hamburger and] Marc Cohen: We nail people down by text message.

MarketCounsel texts like crazy to get and keep its white hot speakers, Priebus and Scaramucci, nailed down

The speaking time slots for these Trump power brokers are elusive but the boys are coming to Brian Hamburger's Florida event -- perhaps with knives drawn for the DOL rule

November 25, 2016 – 8:55 PM

Nobody's seriously questioning whether we should share Thanksgiving with relatives whose views clash with ours.

Why I am incautiously thankful on Thanksgiving eve -- and especially with regard to the RIA business

The election and the on-again, off-again lurch toward a more DOL-rule-compliant financial advice world are bruising but the process itself is still doing its job

November 23, 2016 – 9:36 PM

Abby Johnson takes charge at a buckle-your-seat-belts moment for the closely held family trust.

Abigail Johnson to succeed her father as head of the board -- but will her leadership style resonate in a company seeking a new true north?

CEO since 2014, 'Abby' now heads a 401(k) king amid DOL hell and a mutual fund leader as ETFs take over at a giant company at a time when small and agile wins the race

November 22, 2016 – 7:17 AM

If Ron Carson were to leave LPL, it would be in keeping with his talk about being the disrupter rather than the disruptee.

Almost-confirmed reports had Ron Carson bolting LPL for Cetera as part of a $35-million shake-up of his RIA; 92 hours later the silence is deafening

The $2.6-billion AUM defection by the LPL rep icon was widely reported, tacitly confirmed, then unconfirmed and remains in a cone of silence

November 21, 2016 – 11:56 PM

Brett Thorne: It is always up to the individual advisor working with the client to assess the client’s goals and to help the client get the right investments.

RBC Wealth Management adds NextCapital to its robo lineup with a head-scratching explanation about its earlier pick of FutureAdvisor

It appears Rob Foregger's robo-come-lately has leapfrogged its bigger, better-funded automated portfolio offering -- although the 'why' of it is open to interpretation

November 21, 2016 – 6:51 PM

Wayne Bloom: If the facts and circumstances change we will modify our stance accordingly.

Commonwealth Financial will reverse course on commissions if DOL gets reversed

The Waltham, Mass. IBD's stance jibes with Wayne Bloom's earlier message of regulatory risk and reward as Merrill Lynch stays mum

November 18, 2016 – 6:02 PM

Citi's Bill Katz spoke out Thursday to quell rumors about Schwab buying LPL, but only with soft logic.

Why the LPL-Schwab merger rumor making the rounds makes more sense the harder you look

The Boston- and San Francisco-based companies each lead independent channels and redundancies are scarce

November 18, 2016 – 1:15 AM

Doug Fritz: It’s unfortunate that a firm that size can’t stand something up on their own.

What to make of how Wells Fargo and SigFig are cooking up an unprecedented cross-sell of wealth management to retail bank customers

The deal, unlike some others by SigFig, is not to aid W-2 or 1099 advisors of the (Wells Fargo) wirehouse or bank, but to compete for assets on an open battle field

November 17, 2016 – 10:05 PM

The staff of 'Next' hopes to capture hearts and wallets of HNW-hopeful millennials. ((Photo credit: Gary Spector for Barrron's)

How Barron’s 'Next' lays bare the tail-wags-dog sponsored content predicament facing financial journalism

The web-only Dow Jones publication for wealth-seeking, 'coddled' millennials chums its site with brands under bylines in search of millennial bites as media mavens wonder if the under-40s will accept it, notice it or have enough money to act on it

November 16, 2016 – 9:21 PM

Jamie Price: The opportunity to join a firm of this caliber was one that I could not pass up.

Valerie Brown finds her CEO in UBS ex-prez Jamie Price off the obvious radar screen

In search effort the Advisor Group executive chair looked past kiss of death on the Price résumé and saw the digression off the corporate path as a positive

November 16, 2016 – 12:17 AM

Bo Lu: What's a phone?

The odd and open courtship between the SEC and robo-advisors plays out again -- this time at an SEC-hosted webcast panel in Washington, D.C.

Mary Jo White introduced a forum with representatives from FutureAdvisor, Betterment and Personal Capital who mostly just nodded in assent at each other

November 15, 2016 – 10:22 PM

Tim Keating: There is absolutely no certainty that there will be cash flow from quite a number of the asset classes that they are invested in.

Yale endowment's performance comes in like a lamb again -- even as David Swensen is lionized in the pages of the NY Times.

With the boom years figured in, endowment manager Swensen is still an all-time winner but in spite of the past decade

November 14, 2016 – 6:58 PM

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