Articles Published 11/2018


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Brian Hamburger convinces his FSI nemesis to debate him in Las Vegas, after trips to San Francisco and Washington

The pressure to create fireworks for a big, bright line-up of 'faculty' and attendees meant finding common cause with Dale Brown based on their lack common ground about how advisors should be regulated

November 17, 2018 — 12:22 AM UTC

Signature Family Wealth Advisors, loses a founder and sells to the original 'Alex. Brown' $67-billion RIA

Founded in 1994 by Anne Shumadine and Susan Colpitts, the Norfolk, Va.-baased RIA has $4.3 billion of assets to tuck into Brown Advisory with its more Old Boy culture

November 16, 2018 — 10:07 PM UTC

Abby Johnson finally breaks through the glass ceiling at Fidelity Investments and now she's busy taking big-time -- if calculated -- risks worthy of her father's legacy

Like father, like daughter? Fidelity CEO Abby Johnson shows all the signs that she's determined to leave her mark on the family's $7.2 trillion financial dynasty

November 14, 2018 — 10:06 PM UTC

Oisin's Bits: Focus Financial shares crater after Rudy Adolf's answers to analysts fail to mollify; RIAs get negotiating boost as T.Rowe 'proves' plans boost profits, but is it a fallacy?; and Genstar's tenure as Cetera' owner has started with a bloody nose, despite more than half a billion inflows

Roll-up model meets Wall Street analysts; T.Rowe Price’s latest report posits that 401(k) plans are a rocket for corporate profitability; and private equity firm Genstar Capital's deep pockets have so far failed to turn the tide in Cetera's bitter rivalry with LPL

November 13, 2018 — 10:30 PM UTC

E*Trade gets Ric Edelman as an RIA custody client in 'expansive custody relationship,' but don't ask what that means

The New York-based online broker will fuel Financial Engines with referrals and house the assets with Trust Company of America unit

November 12, 2018 — 10:10 PM UTC

Oisin's Bits: LPL hacked through Capital Forensics' breach, leaks personal info, account numbers; Victory Capital's shares spiral higher on USAA buy; Kore Alliance goes to teaching UHNW kids thrift; Lightyear Capital’s mini roll-up keeps buying, nearing $10 billion target

The year-old non-profit groups 50 ultra-high-net-worth family offices into the Kore Alliance; and the Lightyear Capital-owned roll-up Wealth Enhancement Group makes its third acquisition this year bringing it closer to a $10 billion client assets target.

November 9, 2018 — 7:46 PM UTC

Sentieo gets $19 million backer after palm-held 'Bloomberg terminal' wins 700 hedge fund and RIA clients

In very all-Silicon Valley deal, start-up's CEO Alap Shah got former myCFO director as customer then convinced him to back his venture to the hilt

November 8, 2018 — 7:17 PM UTC

Victory Capital to pay $1 billion -- of mostly other people's money -- for USAA mutual funds and use of its sweet brand-- Victory who?

The Brooklyn, Ohio firm doubles its assets to $144 billion, adding USAA's $69 billion to Munder, RS Investments, Harvest and other assets --Brooklyn where?

November 7, 2018 — 9:27 PM UTC

Brooke's Bits: Citizens Bank hits RIA radar again with purchase of $7.5B Clarfeld; Jay Welker's departure at Wells Fargo--with no heir apparent -- may have giant implications

Heady bank M&A and AMG exit in Tarrytown deal; 1,000-employee private banking unit in San Francisco may fold into St. Louis Wells Fargo wirehouse

November 7, 2018 — 3:33 AM UTC

What's a FinMason and how did it find favor with Orion as a lite and heavy?

Its five-minute planning software is an off-shoot of a big brain -- and its timing is good in the 'race to vanilla'

November 6, 2018 — 7:47 PM UTC

Co-founder Justin Wisz is out at Vestorly, and neither party is commenting; but some jarring Glassdoor reviews of the ex-CEO raise eyebrows

The Ken Fisher disciple went six years at the NYC-based start-up before his co-founder Ralph Pahlmeyer took his place

November 6, 2018 — 1:38 AM UTC

With his CEO hell-bent for election, Bronfman Rothschild president Michael LaMena reunites Fortigent's terrible two with a key poach

Neal Simon is running for U.S. Senate as an independent, an unusual risk; he also took precautions to make sure his $6.1B RIA roll-up finds its feet regardless of the mood of the Maryland electorate

November 5, 2018 — 8:06 PM UTC

Capital Group miraculously recovered after deep 2008 dive but RIA help may get No. 2 American Funds through the next downturn under new CEO

Matthew O’Connor takes the CEO helm of the giant LA-based active manager from Kevin Clifford with conviction not to jam the rudder hard but to be open to new markets

November 2, 2018 — 9:26 PM UTC

Schwab IMPACT hits speed bumps in its 27th year on the stage, in the kitchen, with long lines and in the hard questions RIAs asked

Walt Bettinger and Bernie Clark contended with 2018 technology that showed the RIA audience the -- sometimes awkward -- questions on a mega-screen

November 1, 2018 — 2:03 AM UTC
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