Articles Published 10/2018


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After five-year stealth project, Fidelity goes big-time into crypto-asset custody with standalone company

CEO Abby Johnson founds Fidelity Digital Asset Services for enterprise quality custody and trading with pledge for more 'investing and experimenting'.

3 hours ago

Unseen factors drove the BAM, Loring Ward $50B merger; 18-month warming, light Focus Financial touch, led to reverse merger in spirit and birth, CEOs reveal in exclusive interviews

Buckingham CEO Adam Birenbaum desperately needed a TAMP CEO; Loring CEO Alex Potts needed a succession system for his TAMP clients

October 12, 2018 — 6:12 PM UTC

How Fidelity used a robo-advice exemption to stick the landing as a fiduciary to 401(k) participants after the tumult of the DOL rule

The Boston king of DC plans had to withdraw from advising plan sponsors but followed a 12-year-old rule that permits a 'computer model' for the little guys

October 11, 2018 — 3:37 PM UTC

FPA soldiers through CFP Board tension at its 2018 national event

It's technically a small dispute with the CFP Board but any rift is big when it's your Siamese twin

October 11, 2018 — 3:51 AM UTC

Andres Garcia-Amaya taps two industry vets to guide Zoe Financial through the RIA referral market's rocky shoals, which have sunk more than one firm

Backed by a $2 million VC injection from JP Morgan and ex-BlackRock execs, the NYC startup appoints wirehouse veteran Robert Deutsch and Acorns' investment guru Chris Jones to board

October 9, 2018 — 8:55 PM UTC

Amid its reports it'll get flipped, Ascensus makes exec hire number seven in six months

Bloomberg writes that the Dresher, Pa.-based recordkeeper roll-up seeks a buyer; no matter, Ascensus continues to hire, bringing aboard Todd Engman as its latest regional vice president for 401(k) sales in the Northern Regions.

October 9, 2018 — 7:22 PM UTC

Dan Seivert and Mark Tibergien karate chop private equity investors for being little more than financial engineers in RIA orbit

The CEO of ECHELON and the CEO of Pershing Advisor Solutions describe the investors like hedge funds that make savvy purchases of depleted oil wells

October 8, 2018 — 7:22 PM UTC

After Marie Chandoha turns around Schwab's smarting mutual fund unit, she steps aside to make way for Jonathan de St. Paer who faces a new kind of momentous challenge

The CEO of Charles Schwab Investment Management got poached from BlackRock after the YieldPlus debacle but now an ex-McKinsey-ite will take on the more strategic race-to-zero challenge of the next decade

October 5, 2018 — 10:21 PM UTC

His days of playing defense done, Jeff Concepcion pinches pennies then poaches a Fidelity and Schwab veteran to execute grab for next $6 billion of AUA at Stratos

Lou Camacho will pursue goal of $600 million a quarter in new assets on behalf of OSJ that wants much more inorganic growth

October 5, 2018 — 7:40 PM UTC

Ron Carson ends national search for chief marketing officer by doing a local M&A deal using his favorite HR broker -- Eric Clarke

When Eric Clarke decided he'd play matchmaker, the hyperactive Carson Group CEO snapped up Mineral Interactive and made a creative deal

October 5, 2018 — 6:05 PM UTC

Michael Kitces reveals 'crazy goal' of on-boarding 10,000 advisors and, yes, it may cause 'culture' problems

At his XYPN Conference, he reveals penchant for thinking big, failing almost never and reaching for the sky under Montana's Big Sky

October 3, 2018 — 6:14 PM UTC

Yet another Goldman Sachs advisor breaks away, risks its legal ire and stands wordlessly by for three months to become an RIA

Gary Hirschberg oversaw $1.4 billion and teamed up with Mindy Daimond and Shirl Penney to join a growing army of people beating a path away from the platinum-brand investment bank

October 2, 2018 — 5:40 AM UTC

Oisin's Bits: DriveWealth is newest RIA custodian with VC money and an Apex mindset; Vestmark hits $1 trillion and promptly gives RIAs means to crank out push-button hedging across accounts

$33 million in VC funds goes to up-start RIA robo custodian; no sooner does Vestmark hit $1 trillion than it pushes out software to help RIAs do omnibus hedging of positions

October 1, 2018 — 9:53 PM UTC

LPL Financial markets itself as a savior to reps at 14 IBD firms under the 'precarious' spell of private equity investors, despite its own private equity past

Recruiters pan rhetoric of the Fort Mill, S.C.-based independent broker-dealer for willfully talking past the heavy hand of private equity in their pre-IPO years -- and their own retention and service challenges

October 1, 2018 — 6:20 AM UTC
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