News, Vision & Voice for the Advisory Community


Articles published 1/2019


Publish date

Eric Balchunas:  Only four of the ten-highest revenue-generating ETFs are in the top 10 by assets.

J.P. Morgan may launch first zero-fee ETF as 2019 marks critical passive- and ETF-investing thresholds

The New York patriarch has an ETF registered with no-fee markings at a time when passive is set to surpass active and a mere $7 billion of revenue across 100 ETFs and iShares getting $2.9 billion of it

January 31, 2019 at 9:55 PM

John Peluso: This is a new conversation.

Wells Fargo finally gives its 600 hiring managers an RIA channel to sell but still with the Trade-PMR brand

The San Francisco bank will have an 'offensive mindset' but fully outsource to the Florida custodian, which in turn hires Wells Fargo's clearing division

January 30, 2019 at 4:19 AM

State Farm will separate sheep and goats with new RIA play but is it still a commission wolf in sheep's clothing?

State Farm is (almost) 'there' as it moves 15,000 SEP accounts to Ascensus, affirming RIABiz report a very MoneyGuidePro-wielding RIA is on the way this year

Assured by client feedback, giant insurer keeps edging into the fiduciary field but its agents will maintain licenses to sell and sell, too

January 29, 2019 at 7:38 PM

Ron Carson: These [brokerage] assets are not a good use of [advisors'] time.

Edelman and Carson mark end of era as 'last holdouts' to dump FINRA, but are they jumping from frying pan into fire of SEC scrutiny?

Ron Carson and Ric Edelman ditch FINRA licenses, but both leave door open to commissions and Carson sees a recruitment lure

January 26, 2019 at 8:40 PM

Alan Moore and Michael Kitces are building a better mouse trap and customers are beating a path to their door

Funded to the teeth by RIAs, Michael Kitces and Alan Moore now have a second big play--modernizing plan payments--and broker-dealers are beating down the door

AdvicePay replaces paper checks and 60-day waits with ACH and credit card transactions for financial plans -- a concept validated by hundreds of their own XYPN advisors signing up

January 25, 2019 at 4:01 AM

Liz Nesvold (with Jeff Brand on right): It's freeing because I get to take my CFO hat off.

Raymond James bids to be the Goldman Sachs of RIA M&A through acquistion Silver Lane -- and it might just work

The St. Petersburg, Fla. investment bank provides the next chapter in Liz Nesvold's 'storybook journey' as Manhattan matchmaker extraordinaire overnight

January 24, 2019 at 8:08 AM

Matt Wilson: They’ve got experience in these types of programs.

As E*Trade begins the process of handing out its fattest accounts to RIAs, giant firms may ace out smaller competitors by shear dint of size

The New York online broker's accounts sprawl nationally so Mercer and Edelman/Financial Engines's turnkey national footprints yield a haul

January 22, 2019 at 10:26 PM

Stuart Katz: The opportunity that lies ahead for Robertson Stephens is enormous, and the ability to lead the company into this next chapter is humbling and incredibly exciting.

Robertson Stephens 3.0 gets going--amid scathing skepticism--but new CEO Stuart Katz means for three to be the charm for storied brand's reinvention as wealth manager

One of Silicon Valley's 'Four Horsemen' of Tech IPOs has another Goldman Sachs alum rolling the dice who is ready to say he can reinvent wealth management for the ultra-wealthy

January 18, 2019 at 7:45 PM

Jack Bogle harmonized values with vocation and reaped a truly great life.

Mission accomplished, Jack Bogle dies at 89 and it's still way too soon, but his legacy looms larger than ever

Poetically born in 1929, and tragically afflicted by the Great Depression, the Vanguard founder's message, mission, impact and spirit never got old

January 16, 2019 at 11:33 PM

Creative Planning uses a doctor with proprietary drugs and a back slap in one of its advertisements.

Peter Mallouk's Creative Planning launches national TV advertising to challenge wirehouses but will it work?

The $36-billion Kansas RIA will make his point with tailors, docs and waiters who have Wall Street attitudes but one expert counsels caution

January 16, 2019 at 4:24 PM

Kevin Busque founded Guideline after he was frustrated trying to find simple 401(k) plans for TaskRabbit

Tiger Global, a Wealthfront owner, also is now backing to the hilt a 401(k) robo, staffed by Wealthfront alums; Synergy anyone?

Guideline has raised $59 million and hopes to cut off the other 401(k) robos by avoiding an AUM model

January 14, 2019 at 4:43 PM

Bill Crager tightens his grip on power with promotion to CEO of Tamarac-holding unit.

Jud Bergman remakes Envestnet into two units and Bill Crager and Stuart DePina will head them as Anil Arora exits

Anora came three years ago in Yodlee deal and DePina came seven years ago with Tamarac purchase; Crager now oversees all advisors, including RIAs

January 10, 2019 at 11:11 PM

Bill Hamm: LPL has played really fair with us since day one, unfortunately there's one outfit that's made a concerted effort [otherwise] ... some of these comments coming out, considering the source, I’m not surprised ... It's a character thing.

As Independent Financial Partners readies its $41-billion LPL breakaway, a third CEO goes for the jugular

Tension boils between Robert Russo and Bill Hamm, CEOs, respectively, of the Independent Advisor Alliance and Independent Financial Partners, as Hamm prepares to fly solo

January 10, 2019 at 8:13 PM

After just five years, Zach Perret is the eye of a venture capital storm targeting financial technology data flows.

Plaid, valued at $2.65 billion, makes $200-million snack of Quovo -- albeit defensively -- and creates Yodlee super-foe

The San Francisco-based Mary Meeker darling buys New York City competitor that maintains a wealth management edge as the lines blur between the categories

January 9, 2019 at 10:00 PM

Bob Oros: I'm just asking for a little time and faith.

Bob Oros starts his CEO life at HighTower Advisors with a town hall meeting and clear authority

The former Fidelity RIA chief now runs his formerly largest RIA client, from Chicago, and with Elliot Weissbluth as chairman, 'inorganic' asset and 'evangelist'

January 8, 2019 at 3:09 AM

Mark Alcaide: Foreside’s experienced management team, comprehensive resources, and scale offers the unique opportunity to further expand NCS’s core solutions to new customer segments.

Lovell Minnick sinks more capital into TurboTaxifying the RIA compliance market, with roll-up of NCS; but Brian Hamburger and other free-standers see no threat

Like Aquiline with RIA-in-a-Box, the private equity firm says scale and software are key to comply with SEC dictates in the future, but MarketCounsel and Cipperman are betting this ain't like retail tax returns.

January 5, 2019 at 2:07 AM

Oneness takes a circle but not without its own unique artistry.

Voids were exposed in the RIA business in 2018; who or what could fill them in 2019

Yes, the RIA industry's 30,000 firms desperately need a leader, a unifying force, a more certain identity and the faith to collaborate selflessly, but for now, the RIA Invisible Hand still comes up aces

January 1, 2019 at 1:47 PM

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