Articles Published 2/2019


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How $7B Professional Capital Services is trying to out-nimble, out-RIA $188B Ascensus but with Edmond Walters there to carry a big stick

The eMoney founder joined the Philly TPA's board to oversee a PCS that hires madly, rewrites software, RIA-izes its services and develops marketing punch

February 28, 2019 — 12:41 AM

Envestnet shares spike, but fundamentals reassure Wall Street, rather than big future annuity profits, gaining 2,300 Schwab RIAs on the cheap and diminished Yodlee pain

Replicating SMA success on insurance side and tripling Tamarac customers is exciting but analysts may be more attuned to earnings growth and billions in 'conversions' to subscriptions

February 27, 2019 — 7:14 AM

Peter Mallouk goes inorganic with first M&A deal as he raises the bar on growth objectives for Creative Planning

The CEO of $38-billion firm is starting M&A offensive with a $500-million Minneapolis RIA right after launching giant national TV advertising campaign

February 26, 2019 — 2:27 PM

Schwab Advisor Services tosses its PortfolioCenter platform to Envestnet, in what amounts to a 'defensive' deal for both, insiders say

The deal adds 2,300 Schwab PortfolioCenter RIA users to Tamarac's 1000 mostly high-end users, with a promise of easier migration (maybe) to the cloud

February 22, 2019 — 2:25 AM

How Shuang Chen vaulted his 2015 planning start-up into MoneyGuidePro and eMoney contention by finding a 'Goldilocks' niche neither too light nor too heavy

His Right Capital just raised $3.7 million for a bootstrapped software firm that inked deals with firms like Commonwealth, Betterment and XY Planning

February 21, 2019 — 10:11 PM

CEO Robert Moore's abrupt departure from Cetera for 'health reasons' throws dark clouds over ambitious expansion plans for star-crossed broker-dealer

The official version is health concerns but people close to the firm cite Moore cross swords with Genstar; ex-Schwabbie Ben Brigeman steps in as CEO search launches

February 20, 2019 — 7:24 PM

Shirl Penney flies south, taking Dynasty Financial Partners to St. Petersburg in advance of a hiring spree, but won't kiss-off the Big Apple just yet

The CEO and co-founder is taking his firm to Raymond James' hometown, where he hopes to tap local talent and recruit some snow birds, as well

February 19, 2019 — 3:00 PM

Oisin's Two Bits: Private Client Resources hires bankers, but not, CEO says, for an exit; TD Ameritrade does eight account-opening deals with vendors

The UHNW software firm of Quovo aspect characterizes banker hire as capital search; TD is working to make open API an edge in digital account opening

February 15, 2019 — 11:13 PM

Michael Kitces names his price for RIAs to charge the other 80% of investors and it's a 1% fee but on income, not 1% on assets under management

The Columbia, Md.-based guru and entrepreneur sees a seminal shift in the industry -- and a life raft from dependence on the AUM fee model -- because a critical statistical mass of advisors are converging on a rate where consumers see value

February 14, 2019 — 11:39 PM

Ken Fisher hits a milestone of $100 billion of AUM and $1 billion of revenues but faces a new challenge: How to grow a mature firm with competitors yapping at his heels

The Fisher Investments founder says the law of large numbers is now working against him, but he's spending furiously on reinvention, and 'nothing is sacred'

February 14, 2019 — 4:01 AM

Power Financial, Jeff Carney and Personal Capital tighten bond with $50-million cash raise-- not that it needed the money, says CEO Jay Shah

The $154-billion AUM in Toronto headed by Schwab's ex-retail chief who sits on the board under Charles Goldman and the $8.5-billion Silicon Valley virtual advisor have been close since 2016

February 12, 2019 — 8:50 PM

NBCUniversal and Acorns join forces in $105-million mega-round in play to make two millennial quagmires into one big monetization play

CNBC is desperate to attract millennial viewers and the robo-advisor needs to make 4.5 million micro-accounts profitable and the result is an unconventional pairing.

February 11, 2019 — 11:53 PM

Jason Lahita ends four-month exile with mission to turn 127 OSJ reps into small media brands by pulling rabbits out of his hat

After leaving the RIA public relations firm he co-founded in 2012, the longing of the FiComm founder to get back into the day-to-day media melee took him to a relatively unheralded LPL office of supervisory jurisdiction.

February 7, 2019 — 6:21 PM

LPL Financial shares zoom to all-time high of $77, after new CEO lets brokers sell like hell, and RIA custody and OSJ contracts achieve new balance

Dan Arnold steers Fort Mill, S.C. IBD giant on walk-and-chew-gum course that allows for juicing annuity sales, rebuilding RIA fee platform and squeezing more profits from less revenue

February 7, 2019 — 12:13 AM

T3, held in two-cow town, churns out big news -- much of it about Apprise Labs, RightCapital debuts-- as industry shifts to planning from portfolio management

Joel Bruckenstien lured the RIA world to low-cost Denton, Texas and the RIA world brought stories of breakthrough deals, data and Clever domes

February 6, 2019 — 4:42 AM

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