Articles Published 8/2018


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Vanguard Group launches its free-trading super desk of 1,800 ETFs; now only if clients won't abuse the privilege

The Malvern, Pa. giant risks creating a casino but its clients are expected to stay responsible and use free trades for dollar-cost averaging, rebalancing and harvesting losses for tax purposes

9 hours ago

How HighTower's executive shuffle, kicking CEO Elliot Weissbluth upstairs, opens door for new talent and paves way for Thomas Lee-fueled acquisitions splurge

Since Thomas H. Lee's $350 million February purchase of HighTower, the firm has sought ways to separate dealmaking and operational duties, but recruiting goes to outsourcer and M&A goes to Marc Cabezas.

August 20, 2018 — 7:57 PM UTC

Chip's and Skip's 'Excellent Adventure' breaks RIA stereotypes, sheds risk aversion for 'gut-busting' Alaska hike; black bears, grizzlies and moose, oh my!

This year the Excellent Adventure crew assembled in Girdwood, Alaska for a trek up the Crow Pass Trail, which meanders through a rain forest inhabited by black bears, grizzly, and moose.

August 20, 2018 — 5:30 PM UTC

Morningstar causes uproar with new study that upends everything RIAs assumed about retirement planning, and it all comes down to a number

In July, Morningstar published its latest retirement report, and its author David Blanchett poses tough questions, suggesting advisors risk “havoc” when predicting retirement. But the industry claims it's well prepared.

August 17, 2018 — 8:51 PM UTC

Envestnet CEO Jud Bergman's FolioDynamix deal suddenly looks prescient as SMA-to-UMA market shift dings revenues, third-party asset managers

In Envestnet's latest Q2 earnings call, Jud Bergman revealed the transition from SMAs to UMAs will hit Envestnet and third-party asset managers who sell their SMA wares through Envestnet's platform. But UMA efficiencies may drive down costs faster than revenues fall, making the FolioDynamix purchase look shrewder than ever.

August 16, 2018 — 5:12 PM UTC

Cresset cracks the family office market with a unique proposition; a suite of touchy-feely services that go beyond money management and help clients manage their lives

Cresset, guided by two savvy venture capitalists. is aiming to build the next-generation multi-family office on an independent, employee- and client-owned platform

August 15, 2018 — 4:42 PM UTC

After RIA private equity hot-shot Genstar's $1.7 billion purchase of ugly duckling Cetera, Robert Moore plans to take on LPL--not with acquisitions, but a recruitment storm

Genstar bought a majority share in Cetera in July for a rumored $1.7 billion; now Genstar MD Tony Salewski and ex-LPL President and Cetera CEO Robert Moore have put ramping up the rep count front-and-center in their plans to turn the long-troubled IBD ugly duckling into a market giant at LPL's expense.

August 15, 2018 — 12:35 AM UTC

Orion wins its 95th LPL advisor to show it's also advancing on Envestnet in the broker-dealer market and greening up its pastures

The Omaha, Neb.-based software maker just bagged $5-billion AUA OSJ, Independent Advisor Alliance

August 13, 2018 — 5:54 PM UTC

Posse of top cops from 17 states dresses down SEC, demand same fiduciary standards for broker-dealers and RIAs and cite other 'egregious' deficiencies in proposed son of DOL rule

Since the 5th Circuit Court of Appeals in March struck down the Department of Labor's (DOL)  embattled "fiduciary rule," broker-dealers have been operating with a virtual "get-out-of-jail-free" card

August 10, 2018 — 8:18 PM UTC

Peter Mallouk has diamond as big as The Ritz, a flashy new Kansas City headquarters, complete with Silicon Valley perks; Now his new goal--top $40 billion in assets

'Everything's up to date in Kansas City, They gone about as fer as they can go;' Giant RIA, Creative Planning Inc., upgrades its Overland Park headquarters to set the stage for more explosive growth

August 9, 2018 — 5:47 PM UTC

Goldman Sachs banking on David Solomon to be a catalyst for more RIA-ifcation, getting hip with millennials, diversifying firm... and keeping bankers happy

Solomon is the perfect fit for the advent of 'an enlightened wirehouse', but it's the same old Goldman, say experts, with the sly understanding that the phrasing has oxymoronic overtones.

August 7, 2018 — 11:52 PM UTC

How InvestmentNews may become nucleus of U.S.-based roll-up if UK investment banker succeeds with 'wild swim' across Atlantic to purchase it

If Vitesse pulls off 'reverse merger,' it can use the cash-cow revenues of the Manhattan-based Crain weekly to fuel string of 'bolt-on acquisitions' in United States

August 6, 2018 — 5:32 AM UTC

Schwab Advisor Services's 'very tight ship' sprung leak that may signal a flood of SEC actions against custodians, leading to potential crack down on RIAs

The $1.6-trillion RIA custodian in San Francisco settles SEC lawsuit in a day by paying a $2.8 million fine in a case meant to be a 'shot across the bow' of custodians and RIAs, say analysts

August 3, 2018 — 12:24 AM UTC

Marty Bicknell-led Shark Tank-style contest chooses to back super-ambitious RIA-automation startup, but his $25-billion RIA'll keep Orion for now

ScratchWorks picked Jacqueline Ko Matthews' InvestmentPod to improve advisor productivity by 60% but it's still just 'potential,' says Bicknell; Good potential

August 1, 2018 — 5:17 PM UTC
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