Articles Published 6/2018


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Jodi Perry takes over as head of independent advisors at Raymond James in giant reshuffle that still leaves Van Law's RIA position vacant

The former Southeast director is now in the position vacated by Scott Curtis as he ascends the ladder -- and oversees Perry

June 28, 2018 — 10:44 PM UTC

A Machiavellian Merrill Lynch took the lead on the DOL rule and marketed its fiduciary piety; now it's wrapping its flip-flop in the same pious intent

The fiduciary play by BoA's wirehouse got accolades but failed to help Merrill where it always matters most -- recruiting, retention and revenues. It still may be doing the right thing for consumers when reverse churning gets considered.

June 28, 2018 — 7:06 PM UTC

Calm, thoughtful demeanor led Commonwealth Financial Network to make a 10-year LPL exec its new president and COO; IPO anyone?

Since being poached in 2015, Trap Kloman quickly earned Wayne Bloom's trust and current president, Rich Hunter, is ready to step back

June 27, 2018 — 6:59 PM UTC

Dynasty Financial 2.0 takes big RIAs and applies 'McKinsey' tenets to extrude grand growth -- a leap from midwifing brokers to RIA status then nursing them to health

CEO Shirl Penney will use white glove around an iron fist of change in higher-priced, more customized consulting service-- presuming that the market materializes on cue

June 26, 2018 — 4:39 PM UTC

As era ends, Bill Morrissey steps down to make way for younger exec who leaves job as UBS's digital guru

Nobody sold more advisors to join a broker-dealer than Morrissey but the post-Mark Casady game has changed, making Rick Steinmeier's hire timely for LPL CEO Dan Arnold

June 25, 2018 — 4:48 PM UTC

A year after Acorns gets outed, Betterment faces its juvenile past with 2018 FINRA settlement over 2014 infraction

The $14B robo's ADV will remain clean but it'll live -- like Acorns before it -- with a BrokerCheck violation based on how it managed cash when it was a $608-million firm with a smaller compliance staff

June 22, 2018 — 8:17 PM UTC

What exactly is it about SmartAsset's Zillow-for-RIAs play that converted Focus Financial from funding seeker to a VC backer of $28-million round?

The Manhattan-based startup uses Yahoo!, CNN and other mega-sites to generate 45-million monthly visitors then sells leads to RIAs at $190 per high net worth lead

June 21, 2018 — 6:26 PM UTC

As Brinker Capital embraces RIA future, it ends two-year period of being an outsourced CIO with no named CIO

After the hasty exit of Bill Miller in 2016, the $22B TAMP downplayed insurance brokerage assets, played up RIAs and incubated Jeff Raupp as chief investment officer instead of seeking a ringer

June 20, 2018 — 5:45 PM UTC

'Capacity constrained' SigFig suddenly raises unsought $50 million after major VC steps forward

General Atlantic's funding largess comes after $67 million carried the San Francisco robo its first 11 years

June 19, 2018 — 12:41 PM UTC

One year on, John Copeland's roll-up growth is slow but expectations remain steadfast for big snowball

The founder of Wealth Partners Capital Group sweet-talked AMG into spinning off WPCG to go after plentiful smaller sellers but courtships can't be rushed

June 18, 2018 — 7:52 PM UTC

Why Eric Clarke is pressing to give Orion's 1,500 RIAs first crack at BlackRock's Aladdin -- including two that already have feeds

The Orion Advisor Services CEO is working with a $5-trillion AUM asset manager but it boils down to his personal relationship with BlackRock's Brad Stanger

June 15, 2018 — 7:58 PM UTC

Mike Sha's robo-advisor faced tough choices until two wirehouses offered unique partnerships -- and maybe a new business model to boot

Sure, the SigFig's founder plays by some of UBS's rules in taking its financial backing and giant systems account but beyond that, the freedom to cavort with Wall Street rivals is pretty unlimited.

June 14, 2018 — 3:46 PM UTC

Joe Duran bets two heads are better than one with Kara Murphy and Bob Landry on board to lead United Capital's investment strategy

The United Capital CEO goes from zero to two investment officers to handle mounting task of managing $22B of AUM and a projected $10B of FinLife assets

June 13, 2018 — 5:42 PM UTC

The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year

Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity

June 12, 2018 — 5:01 PM UTC

Pershing CEO Lisa Dolly flaunts size and software at INSITE 2018

The new leadership continues to push RIAs to see the custodian as less niche but more nimble

June 11, 2018 — 7:33 PM UTC

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