News, Vision & Voice for the Advisory Community


Articles published 12/2019


Publish date

Former BlackRock global COO Lisa Dallmer has joined Dimensional Fund Advisors as its COO
December 26, 2019 at 10:10 PM

Laura Levesque: Fee pressures are considerable but defined contribution plans may pick up the slack.

The super-TAMP 'OCIO' category suddenly, finally looks mortal in 2019, says Cerulli report, but modest reinvention and price cuts could give it a new run

The outsourced chief investment officer industry exploded to almost $2 trillion globally and $1.4 trillion in the US, by striking a balance between TAMPs and consultants that propelled 20% growth without much fee pressure, the Boston consultant shows.

December 23, 2019 at 6:22 PM

Tobin McDaniel: More than half of our existing digital advice clients are over the age of 50.

Schwab set to launch 'shoe-that-dropped' subscription retirement income robot that acts like a virtual annuity and produces 'predictable' paycheck

With ex-Nationwide exec in lead, Schwab Intelligent Income helps 'unsolved conundrum' creep closer to a solution -- but no guarantees on income

December 20, 2019 at 2:25 AM

Robinhood founders, Baiju Bhatt and Vladimir Tenev,  are having their 'Little John' moment of zapping fees and having the saving trickle down to investors from big brokers.

With Robinhood pacing the new norm, Interactive Brokers outpaces Schwab in race to give RIAs free fractional-share trades

The Greenwich, Conn., discount broker -- with Robinhood promising to be next -- has already pulled the free-fractional lever for retail investors and plans to make the time interval for RIAs between promise and delivery -- i.e. vaporware -- far shorter than the Schwabitrade merging conglomerate.

December 18, 2019 at 10:49 PM

Martin Flanagan: Invesco has a long history of providing advisors with the tools and digital solutions they need ... through a broad range of active, passive and alternative capabilities.

Invesco snaps up RedBlack, not long after buying Portfolio Pathways and a few years after its Jemstep acquisition

The $1.3-trillion AUM Atlanta-based asset manager promises a 'digital' future, but skeptics question how it can work

December 16, 2019 at 10:56 PM

Bill Crager (right):  'We have seen dark days, been challenged; [it's] not OK to just get through.'

Unbowed, Envestnet's Bill Crager says 'We are right there,' at MarketCounsel Summit, while Brian Hamburger plumbed Joe Duran and Jon Beatty for answers on two big M&A deals

CEO Hamburger promised more pure, high-level thinking from decision-makers and got it, causing emotions to run high.

December 14, 2019 at 11:30 PM

Drew Sievers:  I don’t kiss and tell. ​

Drew Sievers woos fresh $12 million in capital and a fat $15-million loan to renamed Trizic

Now named 'Harvest,' the CEO of the robo-for-banks won't kiss or tell -- except about those 18 banks signing on in 18 months.

December 13, 2019 at 7:52 AM

Guy Benstead (with George Gay on right): [The move to Orlando for 2020]  it rankled some of the old guard RIAs who have been at the vanguard of the SRI movement.

Planned move to plastic Disney World from natural Broadmoor rankles some RIAs as perverse outcome of record-obliterating SRI confab turnout and arrival of mainstream to fringe investing approach

Women, millennials and climate change make up the trifecta driving socially responsible investing sky-high and into the arms of Mickey Mouse

December 12, 2019 at 7:01 PM

Porter Gale: We just have to be smarter and more creative.
December 11, 2019 at 5:26 PM

Tom Bradley brings experience, goodwill and a chip on the shoulder born of being cut by the firm Schwab is set to consume.

Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'

Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms

December 10, 2019 at 2:05 AM

Andy Rachleff: 'We realized [a high-yield checking account] is a better entry point than an investment account.

After Andy Rachleff explains Wealthfront's corrective to banking, Jon Stein told how Betterment is investing heavily in banking but mindful of 'frothiness'

The Redwood City, Calif.-based robo-advisor co-founder explained the banking pain points at InVest West and the New York-based robo co-founder told of a $1B banking week but exulted more about RIA custody

December 6, 2019 at 11:48 PM

Charles 'Chuck' Schwab's acquisition of TD Ameritrade has yet to be approved by regulators, leaving both firms sitting on a potential $950 million landmine.

Breaking up is hard to do: Schwab and TD Ameritrade both on hook for $1 billion should either firm get cold feet, shareholders revolt, or antitrust regulators quash deal

The Omaha, Neb.-based Schwab target, TD, has its neck most exposed, sources say, and anti-trust concerns are real but Schwab Chairman Chuck Schwab may have improved his odds in Washington with donations to the party in power

December 5, 2019 at 9:37 PM

Yaela Shamberg: The majority of CRM systems available on the market are basically only sales pipeline management tools, and they do a poor job at that.

InvestCloud turns nine, claims gobsmacking $2T of AUA ( not even counting $50B AUA clients) but seeks more RIAs by exploiting perceived Salesforce shortcomings

The LA-based aging start-up means to meld social media data with spreadsheet data in CRM cloud in way that leapfrogs many RIA offerings -- at least as part of its suite

December 4, 2019 at 11:26 PM

Charles 'Chuck' Schwab is cleaning his Schwab house but mudballs roll downhill and small RIAs say they are already paying a service-level price.

Schwab sends most RIAs to 1-800 custody service -- a downgrade the mass of incoming TD Ameritrade RIAs will have to swallow

The Charles Schwab Corp. is taking relationship managers from RIAs with less than $200 million in AUM, a threshold that thousands of TD RIAs will cross next year along with other presumed merger integration glitches

December 3, 2019 at 4:09 AM

Sallie Krawcheck: It's easier to divorce your spouse than it is to get rid of an investor.

Why Sallie Krawcheck made a plea for 'divorce' from unnamed 'investors' as her Ellevest startup approaches its sixth birthday

The robo-advisor still has AUM of just $400 million; Now investors need new patience as the co-founder pivots toward higher net-worth women willing to pay higher fees.

December 2, 2019 at 5:26 AM

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