Articles Published 9/2018


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SigFig tightens its lock-down on UBS's digital fate by absorbing its in-house robo unit and 80 employees, but it's weathering storms on other fronts

The Swiss bank's symbiosis with the San Fran start-up winds ever tighter, but '1,000 banks,1,000 separate versions' hardly lends itself to a plug and play symphony

8 hours ago

After settling with the SEC for $250,000 over two compliance issues, Peter Mallouk explains what he quietly and painfully experienced as his RIA grew from $15 billion to $36 billion

The CEO of Creative Planning ran into trouble after a local radio host became a client and part of his advertising. The host/client then enthused about his wealth manager well past the SEC's testimonial tolerance

September 17, 2018 — 4:09 AM UTC

Oisin's Bits: Casady and Blundin's Vestigo-voyage gathers steam with near $60 million cash-pile; Ethical-robo OpenInvest raises $10.4 million and flips B2B switch, founder lays into mutual funds

In this roundup, Mark Casady and David Blundin's VC-odyssey, Vestigo Ventures, closes its first fund as the duo outline a nine-year strategy, and reveal they pitched in 8.5% of its near $60 million cash-pile; and the socially responsible investment robo-advisor OpenInvest goes B2B, rakes in $10 million of VC funds, gives votes to passive investors, and slams mutual funds.

September 14, 2018 — 9:29 PM UTC

Founded in 2017 to produce ultra-beta ETFs, Salt Financial goes full 'meritocratic' in poaching 27 year-old Dow Jones beta hunter -- seriously, beta hunter -- to lead research for volatility tracking ETF roll out

The juiced-return index products designer installs Ryan Poirier, a prodigy Dow Jones researcher as director

September 14, 2018 — 8:34 PM UTC

Rockefeller Capital hires Chris Dupuy from Focus Finacial

But can Dupuy help his new boss shake up Rockefeller Capital Management's brand and convince 21st century tech magnates and next-generation middling millionaires to rub shoulders with a Rockefeller brand still best associated with a 19th century robber baron?

September 14, 2018 — 9:12 AM UTC

LPL replaces the great Bill Morrissey with UBS' digital whiz

Rick Steinmeier's hire is timely for LPL CEO Dan Arnold as the post-Mark Cassady game has changed.

September 14, 2018 — 9:03 AM UTC

Jason Lahita explains what it means to be true to yourself by stepping aside from FiComm, his booming pr and marketing firm, to rediscover his true passion

Perhaps the best-known RIA PR person out there, Jason Lahita built a firm that grew too big to allow him to do what he loved best--getting in the trenches and crafting campaigns.

September 13, 2018 — 9:12 PM UTC

Two ex-LPL talents join Derek Bruton and Keith Gregg's Chalice start-up

After just three months in-situ as the president of Chalice Wealth Partners, the ex-LPL RIA overseer gets Christopher Giles as chief information officer and Stephanie Holly as chief financial officer.

September 13, 2018 — 2:46 PM UTC

A $2.7 billion RIA makes Allison Felix, 40, its president, after she started as an executive assistant out of college.

Allison Felix' rise to prominence was backed, in part, by CEO Steve Cassaday who paid for half of her MBA and sold her a minority stake

September 13, 2018 — 2:32 PM UTC

HighTower gets a new CEO, to be revealed later, as Elliot Weissbluth moves upstairs

Elliot Weissbluth's move upstairs ends an era, as Thomas H. Lee's reign begins in earnest, and Mark Cabezas comes in as M&A head.

September 13, 2018 — 2:21 PM UTC

After winning Merrill Lynch, FactSet CEO Phil Snow is challenging Big Data for downmarket RIAs, but convincing them to buy a box is an up-sell nightmare

FactSet scored its largest deal ever this August, landing the 15,000-strong Merrill Lynch wealth management arm; Next, CEO Phil Snow is targeting RIAs, but they'll be a much harder audience to up-sell terminals

September 12, 2018 — 8:08 PM UTC

A 31 year-old CEO raises $33 million for very RIA venture -- buying too-small RIA accounts, then serving them on a Merrill Edge-type platform in Baltimore

As LearnVest cedes the B2C financial planning niche, Anders Jones gets cash from Warburg Pincus to go after that market with a whole new approach; it includes cozying up to the RIA M&A boys and reinventing how human advisors plan

September 11, 2018 — 10:07 PM UTC

Brinker hires a CIO after making do without one

After the hasty exit of Bill Miller in 2016, the $22B TAMP incubated Jeff Raupp as chief investment officer instead of seeking a ringer.

September 11, 2018 — 12:00 AM UTC

Trap Kloman gets nod as president at Commonwealth

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

September 11, 2018 — 12:00 AM UTC

Raymond James appoints new head of independent advisors

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

September 11, 2018 — 12:00 AM UTC

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