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Articles published 8/2019


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Charles Goldman: In 2018, advisers received 67% of their total revenue from fees, up from 40% in 2013

Fresh off IPO, AssetMark bumps Charles Goldman's pay 47%, but the AssetMark CEO had good news for his employers, too

After 2018 slowed a bit, the Concord, Calif.-based firm's growth rate picked up in first six months of 2019 and the firm has its star CEO locked up now for three years

August 29, 2019 – 4:33 PM

Dr. Ajay Dravid: Fees that are at least partly … contingent on beating a benchmark are in investors’ best interests.

Oisin's Bits: Equinox pledges to beat market, and rivals, before collecting fees • Orion-parent TA Associates readies roll-up spree after $375 million purchase • Sanctuary adds breakway No. 26 to $10 billion haul, reeling in Morgan Stanley firm eager to shed 'old mindset'

Equinox Funds, a small, academic asset manager, launches a mutual fund with fees tied to performance; now the results are in • TA Associates, owner of Orion Advisor Solutions, acquires a beachhead for RIA roll-up spree • It's full steam ahead for Sanctuary's Jim Dickson who bags breakaway No. 26

August 28, 2019 – 3:24 AM

Andy Rachleff: We raised our [rates] at the same moment Marcus and Ally “needed” to lower theirs.

Andy Rachleff lambasted competition for timid cash account offerings, but eats his own words with a pull-back to a middling 2.32% rate after Fed cut

Wealthfront robo-advisory CEO takes refuge in the fine print following Fed rate cut by shaving 25 basis-points off his market-leading 2.57% cash account rate

August 26, 2019 – 8:33 PM

Renee Baker will take over Raymond James' Advisor Inclusion Networks as the company aims to solve its diversity and inclusion problem.

After recruitment of minorities and women gets CEO-level attention at Raymond James, a program gets a dynamic leader

With ratios stuck in the teens, CEO Paul Reilly gives chief marketing officer at subsidiary Carillon Tower Advisers, Renee Baker, her shot at mission impossible -- getting Advisor Inclusion Networks to live up to its Orwellian name

August 24, 2019 – 4:25 AM

Dean Zayed: 'I’ve got lots of skin in the game. This isn’t an exit strategy.'.

AmeriLife just bought a $2.7-billion TAMP based on growing belief pre-packaged RIA services and commission-sold insurance can be sold out of the same briefcase

The Clearwater, Fla. insurance marketer bought Brookstone Capital Management with faith that insurance agents can moonlight as part-time RIAs

August 22, 2019 – 5:52 PM

Mark Bruno is looking for a 'next chapter' and says his interest lies in 'the business that supports financial advice.'

Mark Bruno, the 'glue' behind InvestmentNews, and sales strategist Julie Parten make it a clean sweep, ending the Crain era with their departures

New publisher and CEO Christine Shaw has enlisted Bruno to stay for three months to learn the ropes and rebuild IN's entire sales force

August 21, 2019 – 4:30 AM

Abby Johnson has opened up yet another front in her wide-reaching price war against custody and fund competitors: cash.

Abby Johnson set financial services on fire with a 1.91% 'cash' offer, drawing 'first blood' in an 'accelerating war of rates,' analyst says

The Fidelity CEO threatens to melt down rival profit centers but analysts and RIAs say credit quality and RIA sweep policies make the threat somewhat of an 'illusion'

August 20, 2019 – 1:41 AM

Charles Goldman: 'I am fully committed to AssetMark, and my contract will be done well before October.'

After a great IPO, AssetMark still needs to nail down its biggest asset, Charles Goldman, who assures that it's 'really nothing'

The CEO of the Concord, Calif.-based super-TAMP was its turnaround artist, maestro of sale to Chinese buyer and led it to the IPO but he was paid less than peers

August 16, 2019 – 9:31 PM

Jim Dickson: Our growth has been record setting [and] our pipeline today is much greater than it was a year ago ... We’re growing so fast it’s hard to keep up.

A 20-year Merrill Lynch veteran got Sanctuary Wealth to $10 billion in AUA in 15 months with no outside capital and no time in bed: 'Nobody's slept since April'

Jim Dickson also recruited HighTower talent, Amit Dogra, to bring the old HighTower brokerage model and execute it as HighTower veers toward buying RIAs

August 15, 2019 – 7:58 PM

Joe Duran:  It's not your baby. It doesn't love you back the way your real babies do.

Joe Duran declares United Capital means little to him now beyond money and how relieved he is to pass its underdeveloped business model to Goldman Sachs

United Capital founder describes his roll-up as the baby that doesn't love you back: "It's just this thing you created"

August 12, 2019 – 9:10 PM

Jud Bergman: I am highly confident that eventually we will find a new solution with a new provider that enables us to address this market opportunity.

Jud Bergman admits Envestnet will be set back months, if not quarters at hands of Marc Kasowitz and his client, causing firm's shares to plummet

With FinancialApps yanking its software from its Chicago-based ex-partner -- and suing it on the way out the door -- the Envestnet CEO needs to find replacement and ward off a legal attack

August 10, 2019 – 6:09 PM

Abby Salameh:  It is very tempting to use this blissful slump in client activity to bust out daily 12 p.m. office beers or “work” remotely from beside the pool with your best-of Jimmy Buffet playlist on repeat.

Five ways advisors can be productive in August without totally killing their Jimmy Buffet buzz

The bad news is that clients are away -- or avoid you -- but that's good news for getting organized for the Fall crush

August 9, 2019 – 11:49 PM

Tim Hockey: 'As we all know, the environment that's facing our entire industry has gotten a little more interesting.'

Tim Hockey leaves baffled analysts (and everyone else) probing for answers to explain abrupt departure plan as TD Ameritrade CEO; It's about... nothing!

Discount brokers are facing myriad issues as trading fees continue sliding to zero, causing TD's board to seek a more RIA friendly CEO

August 8, 2019 – 6:32 PM

Christine Shaw comes to InvestmentNews with reputation for her superior 'international' experience and ability to oversee a portfolio of events, publications and websites.

InvestmentNews hires new CEO with no financial services background to replace long-time, departing publisher Suzanne Siracuse

Known as a 'decider,' Christine Shaw mirrors her predecessor but at much greater scale and more 'digital' emphasis

August 6, 2019 – 10:55 PM

Jon Stein: Our core original business today is throwing off the cash we're [now] investing in a lot of businesses, including banking.

Betterment paints it black in robo retail, making it a 'real company,' with JP Morgan and Bank of America on its new whiteboard hit list

The Manhattan robo-advisor is past retail break-even and ready to take on robo-banks and RIA custodians in more aggressive fashion.

August 5, 2019 – 9:54 PM

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