Articles published 11/2021
Vanguard Group reaches for more alpha and higher fees by filing to sell single-country 'China' fund and it likely ups its VPAS-related revenues in the bargain
After ending its physical presence in China, the Malvern, Pa. manager of $8.4-trillion is going headlong into the market with a new, 73-basis-point China fund that will be integrated into $260-billion AUM Vanguard Personal Advisor Services
November 30, 2021 at 11:35 PM
Envestnet files to launch its first four ETFs and invents a category -- an active-and-passive approach it tried first with mutual funds
The Chicago outsourcer is hopping on half a channel lane to sell house-brand ETFs that may make nifty 'sleeves' for model portfolios.
November 30, 2021 at 2:21 AM
A $4.4-billion RIA in LA made a very 2021 decision to name two women, both 37, co-CEO for a very old-fashioned reason-- accelerated growth--following previous gender diversity moves
Abacus Wealth Partners has quadrupled its assets under management in six years in tangible correlation to its progressive hiring strategy
November 27, 2021 at 12:57 AM
Riskalyze replaces Lori Hardwick with Laurie Schultz at board chair and publicly tells her -- and the RIA industry -- it's moved the goalposts to a $1-billion valuation
The Auburn, Calif., firm's new chair already took one risk software firm to unicorn status and promises to 'do what it takes.'
November 24, 2021 at 11:12 PM
Robinhood stock suffers sixth straight record low as its reverse 'fiduciary' conundrum goes unsolved, while CEO takes shots at 'gadflies' and eggheads
The Menlo Park, Calif., discount broker needs to put client interests first while making them feel like it's flouting authority
November 24, 2021 at 2:30 AM
Doug Fritz's startup in Santa Cruz is a surfing safari that is beginning to make waves by providing billion-plus RIAs with software shock troops
The former Wells Fargo and First Republic wealth tech guy now has an F2 team of 20-plus scattered nationally for his outsourced chief technology officer business.
November 23, 2021 at 2:07 AM
Forgoing 'crazy' offers, Greg Friedman is -- yes, surprisingly -- selling 100% of Private Ocean to a roll-up that is part old Bronfman Rothschild and part NFP-owned Sontag Advisory
The Wealthspire rollup will jump to near $17 billion after adding $2.7 billion from the formerly acquisitive San Rafael, Calif. RIA whose founder can't wait to be an employee, again.
November 22, 2021 at 4:12 PM
Creative Planning goes 'transformational,' buying $110 billion in retirement assets and crashing the elite Edelman Financial Engines, CAPTRUST party of business model ambidexterity
Peter Mallouk's acquisition of Lockton and its big-company 401(k) business will double his Overland Park, Kan, staff and solidify its business model's rear flank
November 20, 2021 at 4:07 AM
Morningstar downloads SMArtX--off-loads APL--to reload its stumbling TAMP to take on Envestnet-Orion for enterprises and RIAs
The Chicago giant sits on 180,000 largely unmonetized desktops thanks to its 'Work Station' and 'Office' software, but its RIA TAMP assets are meager after having no UMA to compete.
November 19, 2021 at 4:25 AM
Wealthfront turns to Frank Quattrone to spur sale after RBC and SPAC deals fall through, say RIABiz sources, but reported $1.5 billion price may be bridge too far
Though buyers are interested in the Palo Alto, Calif. -headquartered robo, they may have balked at the price, which sources say pushes the envelope even in a hot market, but banker Catalyst will further test the market.
November 17, 2021 at 2:29 AM
Michael Kitces asks Eliza De Pardo if the $1.5 million RIA revenue threshold is a wall that ends the honeymoon; Short (inconclusive) answer: Yes, but...
The New York City RIA consultant sugarcoats nothing and provides sweetly precise numbers, and stresses that money can't buy enthusiasm.
November 16, 2021 at 6:48 PM
KKR rewards Beacon Pointe with mega recap after the roll-up made the leap from $10 billion to $20 billion in AUM in 18 months
CEO Shannon Eusey's team will still hold 'over 50%' of firm but takes chips off the table after KKR infusion in her 2002-founded firm -- which launched a rollup as an adjunct in 2011.
November 16, 2021 at 1:58 AM
Orion buys BasisCode to tame its own data tiger including HiddenLevers and the roiling IT trove of 2,200 RIAs with $1.7 trillion AUA
Orion CEO Eric Clarke purchase builds on a strategy of developing a data capability that helps his firm keep RIAs compliant and win enterprise deals head-to-head against Envestnet-Yodlee.
November 13, 2021 at 3:38 AM
InvestmentNews Publisher Christine Shaw departs on heels of top editor, leaving turn-around ace John French to pick up the pieces, but sale off the table, he says
Media consultant says the publication is 'a little chaotic,' but vows to shore up the masthead and keep the New York City brand intact.
November 12, 2021 at 5:25 AM
After an avalanche of AUM in 2020-2021, some RIAs are stretched thin on service bandwidth, but the answer is to begin 'productizing'
The word 'product' is anathema to RIAs but the open-ended promise of high touch service isn't sustainable for advisors, and it's also not ideal for the client
November 10, 2021 at 6:55 PM
Brandishing 'better outcomes' and 'outperformance,' Vanguard Group announced today its five new high-conviction funds are ready for the investors using its $259-billion RIA
Citing 10-year, Lipper-tracked data, the $8-trillion Malvern, Pa., mammoth is making the funds exclusively available through Personal Advisor Services
November 10, 2021 at 12:32 AM
Peter Mallouk's two-year $50-billion AUM surge at his Kansas RIA exceeded even his expectations, causing him to hit the ceiling--literally--at his shiny office complex
Creative Planning jumped from $50 billion AUM to $100 billion of AUM and the CEO and owner says the firm added 350 people and is nearly out of space at its giant headquarters
November 8, 2021 at 11:24 PM
JPMorgan files ADV for launch of call-center RIA led by former Vanguard Group call center head with blunt disclosures about who gets to manage the assets
The New York City white-shoe wealth manager is finally branding mass market fiduciary advice from office space in Phoenix
November 4, 2021 at 6:28 PM
Charles Schwab & Co. sets in motion monetization play for the ages to nudge zero-fee trading assets into fee-based accounts, a 'blurring' of lines between self-directed and advised assets
CEO Walt Bettinger has repeatedly trumpeted next year's rollout of proprietary direct indexing as a sort of killer app that wins index and DIY assets alike
November 4, 2021 at 2:30 AM
Vestwell does creative deal to buy BNY Mellon's $20 billion workplace savings unit and 'leapfrog' beyond 401(k)s
The Aaron Schumm-led 2016 startup pays stock and agrees to vendor terms for Sumday to tackle high-headache, high-potential business of employer-sponsored IRA’s, 529’s, ABLE programs and Health Savings Accounts.