Articles Published 11/2018


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RIA in a Box gunning for top-notch staff as it readies for Aquiline-fueled roll-up binge, targeting old-school, mom-and-pop compliance competitors

With Ascensus also in its portfolio, Aquiline is showing a penchant for taking dull, fragmented, unloved wealth-management niche businesses and rolling them up into sexier firms

November 29, 2018 — 11:54 PM

BlackRock buys Envestnet's love for $123 million to crack its 'open-architecture' platform and sets stage for another juicy Envestnet acquisition

The $6-trillion New York mega-manager buys 5% stake in the $2-trillion Chicago clearinghouse to get most-favored-vendor status in 'open architecture' environment

November 29, 2018 — 1:20 AM

StoneCastle storms into RIA market with high-yield, FDIC-insured accounts in direct challenge to MaxMyInterest for the title, King of Cash

Putting a target on the back of MaxMyInterest, StoneCastle teams up with US Bank to bring 'sheer size' to RIA cash management

November 27, 2018 — 9:56 PM

361 Capital has eight-year asset rise from $100 million to $1.7 billion then makes two people moves after net inflows slow to trickle

The liquid alts provider is a beneficiary of referrals from Lovell Minnick, which owns a stake, but will need to apply 'elbow grease' to marketing to keep pace with redemptions and the law of large numbers

November 27, 2018 — 6:10 PM

Emigrant Bank 'doubles down' to send Mark Hurley packing and fire up Fiduciary Network, its RIA deal machine

The billionaire-owned New York bank eschewed the quick buck of a top-of-market sale to bet Karl Heckenberg can make Fiduciary Network function even better as its new CEO

November 22, 2018 — 12:07 AM

Edmond Walters jumps aboard RIA software fast-riser, rolls up sleeves and takes new tack on perceived Vestorly void

eMoney founder joins AdvisorStream as director, a misnomer insofar as the 55 year-old is deeper involved than the show-up-for-croissants quarterly title suggests

November 21, 2018 — 7:21 PM

With Justin Wisz gone, Vestorly's new CEO jibes to algorithm licensing tack, wins Hootsuite and knocks old model, saying market is saturated by competitors

Ralph Pahlmeyer will play to his firm's sifting strengths, seek enterprise deals and think more like a software executive

November 21, 2018 — 7:09 AM

Lisa's Bits: Goldman Sachs's $35-billion RIA loses nine more advisors who form Veracity Capital; Mariner makes biggest-ever RIA deal of $2 billion; Focus stock is steady in rocky market and gets 'F' rating from Schwab

In 2018 Goldman Sachs has seen more than a dozen advisors jump ship over to form RIAs; Bicknell rejuvenated RIA shows off spring-loaded M&A; Focus Finacial shares take on water but weather storm

November 19, 2018 — 9:19 PM

Bob Reynolds -- 11 years after leaving Fidelity -- is going after its fatter margins with a beefed-up virtual RIA

The Empower CEO will add 300 fiduciary advisors and apply a Canadian robo and Apex Clearing custody to de-clunk the underwhelming existing rollover

November 19, 2018 — 8:26 PM

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

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

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

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

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

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

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