Articles written by Brooke Southall


HeadlinePublish date

Fidelity Investments launches its API-forward 'open architecture digital store' as big RIAs demand help fine-tuning client service -- with Schwab likely on deck

The Boston giant's push is more about RIA self-help than the third-party integrations TD Ameritrade makes hay with but now Schwab Advisor Services may be pushed to respond.

October 17, 2018 — 3:24 AM UTC

After five-year stealth project, Fidelity goes big-time into crypto-asset custody with standalone company

CEO Abby Johnson founds Fidelity Digital Asset Services for enterprise-quality custody and trading, with pledge for more 'investing and experimenting'

October 15, 2018 — 6:45 PM UTC

Unseen factors drove the BAM, Loring Ward $50B merger; 18-month warming, light Focus Financial touch, led to reverse merger in spirit and birth, CEOs reveal in exclusive interviews

Buckingham CEO Adam Birenbaum desperately needed a TAMP CEO; Loring CEO Alex Potts needed a succession system for his TAMP clients

October 12, 2018 — 6:12 PM UTC

Dan Seivert and Mark Tibergien karate chop private equity investors for being little more than financial engineers in RIA orbit

The CEO of ECHELON and the CEO of Pershing Advisor Solutions describe the investors like hedge funds that make savvy purchases of depleted oil wells

October 8, 2018 — 7:22 PM UTC

Yet another Goldman Sachs advisor breaks away, risks its legal ire and stands wordlessly by for three months to become an RIA

Gary Hirschberg oversaw $1.4 billion and teamed up with Mindy Daimond and Shirl Penney to join a growing army of people beating a path away from the platinum-brand investment bank

October 2, 2018 — 5:40 AM UTC

Focus Financial buys $17 billion DFA TAMP for $235 million through its $3.6 billion DFA TAMP

The RIA roll-up adds Loring Ward to BAM with 50% cash down and the rest with Focus common shares

September 28, 2018 — 2:44 AM UTC

After attempting LBO and discarding four other offers, Norm Boone jumps into the Private Ocean

CEO of Mosaic Financial shopped around before settling with Greg Friedman, whom he'd long considered a white knight

September 24, 2018 — 8:32 PM UTC

LPL replaces the great Bill Morrissey with UBS' digital whiz

Rick Steinmeier's hire is timely for LPL CEO Dan Arnold as the post-Mark Cassady game has changed.

September 14, 2018 — 9:03 AM UTC

A $2.7 billion RIA makes Allison Felix, 40, its president, after she started as an executive assistant out of college.

Allison Felix' rise to prominence was backed, in part, by CEO Steve Cassaday who paid for half of her MBA and sold her a minority stake

September 13, 2018 — 2:32 PM UTC

A 31 year-old CEO raises $33 million for very RIA venture -- buying too-small RIA accounts, then serving them on a Merrill Edge-type platform in Baltimore

As LearnVest cedes the B2C financial planning niche, Anders Jones gets cash from Warburg Pincus to go after that market with a whole new approach; it includes cozying up to the RIA M&A boys and reinventing how human advisors plan

September 11, 2018 — 10:07 PM UTC

Trap Kloman gets nod as president at Commonwealth

Since being poached in 2015, Trap Kloman quickly earned Wayne Bloom's trust and current president, Rich Hunter, is ready to step back.

September 11, 2018 — 12:00 AM UTC

Raymond James appoints new head of independent advisors

The former Southeast director is now in the position vacated by Scott Curtis as he ascends the ladder -- and oversees Perry

September 11, 2018 — 12:00 AM UTC

Focus Financial shares soar after Rudy Adolf pumps the pipeline and stiff-arms analyst who presses him on a Focus sore point--organic growth, or lack thereof

The shares are up more than 30% since Aug. 20; the CEO boasted on the quarterly call that the IPO itself sent the M&A pipeline spiraling higher

September 6, 2018 — 12:33 AM UTC

RIABiz turns nine, gets new faces and some facelifting to stay on top of the hottest corner of the financial services industry--RIAs

The online publication adds Keith Girard as editor and Oisin Breen as writer, stays on 14% revenue growth rate without bending to sponsor pressures or using a gram of ink

September 5, 2018 — 3:53 PM UTC

Trump exec order on 401(k)s cuts restriction for MEPs but Vestwell execs counsel caution

Under ERISA-permitted MEPs, advisors can lump small employers into giant plans that battle big firms which is fine til you read the small print

August 31, 2018 — 11:30 PM UTC