Articles Published 12/2018


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Liberated by an Envestnet deal and a growth upsurge, Scott MacKillop isn't ho-humming a rescue infusion of $1.5 million after a two-year 'Perils of Pauline' existence as the lonely flat-fee SMA firm

First Ascent's CEO shares the joy of second funding round after first-round friends and family were asked to extend support beyond what was on the whiteboard

16 hours ago

Mike Durbin speech spellbinds; David Kowach prompts head-scratching and Brian Hamburger-Dale Brown showdown has one tense moment at Market Counsel Summit

The Fidelity exec shows forward thinking; the Wells Fargo exec talks branded RIAs and the cage match ... not so much

December 8, 2018 — 5:06 AM UTC

Lisa's Bits: Commonwealth and Cambridge jump into RIA custody game bigger; Goldman Sachs buys $600-billion 401(k) RIA as Wells Fargo reportedly eyes 401(k) exit ; Mercer does four deals in one month; LPL slashes an important advisor fee; A $13 billion advisor's fate is uncertain

Commonwealth launches its own RIA unit, Mercer goes on a one-month buying spree; Wells Fargo seeks to escape retirement low margins and Goldman buys in; Cresset looks to reinvent itself,

December 7, 2018 — 6:36 PM UTC

SEI targets the 60% of its book that are planning virgins with Advizr's 'lite' planning software -- an MRI on held-away assets and way to boost SEI products sales

The Oaks, Pa.-based TAMP plans is to lure reps with the 'nibbling' software maker it part owns with a buy-one-get-one-free coaching and planning deal

December 5, 2018 — 11:03 PM UTC

Decades-old stench of annuity sales and deception hangs heavy, but very 2018 efforts by DPL, Nationwide, Allianz and others offer whiff of hope of cracking the RIA market

As RIAs kick stockbroker butt, old-line insurers like Nationwide are taking the RIA fee-based and open-architecture model seriously -- because they have to -- and target the $2 trillion fixed-income aspect of RIA portfolios.

December 5, 2018 — 8:40 PM UTC

LPL Financial's $28 million cash purchase of AdvisoryWorld solves one big problem: Now it can make sure the proposal software includes annuities in its proposals

The Fort Mill, S.C.-based IBD is the No. 1 annuity distributor in the United States but it still cranks out proposals focused on stock/bond allocations

December 4, 2018 — 10:46 PM UTC

In historic UHNW talent grab, Cresset Capital Management makes three more head-turning poaches -- with Deloitte, Wells Fargo and Abbott Downing pedigrees -- in its bid to create a national family office

The Chicago-based RIA seeks to better serve the heirs-to-be as part of a broader strategy to shake the cobwebs out of a stodgy segment for the 1%

December 3, 2018 — 9:41 PM UTC

Raymond James promotes yet another woman to a powerful position -- this time an alum of Duke, Columbia by way of Goldman Sachs -- to head the very LPL-intensive Northeast corridor

Jodi Perry puts Shannon Reid in charge of the wealth-intensive Maryland-to-Maine corridor

December 3, 2018 — 8:28 PM UTC
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