Articles written by Brooke Southall


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Determined to out-Joe-Duran Duran's United Capital, Dave Welling moves his $12B roll-up's HQ to Denver

As Mercer's torrid growth accelerates, its new CEO will hyper-unify investments and operations, make deals, pit software vendors against each other and hire like crazy

February 14, 2018 — 6:18 PM UTC

HighTower closes $450-million deal that ups advisor stake, inks deal with Elliot Weissbluth

The Chicago-based roll-up sold '50-60%' stake -- for $350 million plus $100 million

February 10, 2018 — 12:40 AM UTC

Unknown San Francisco 401(k) robo with famous backers gets $11 million more in VC funding -- and an interesting brand

With Y Combinator start, Human Interest, formerly Captain401, is only in its third year but 10,000 customers convinced Adam Nash, Joe Montana and Sequoia-, Accel-derived VC

February 8, 2018 — 12:10 AM UTC

Riskalyze tromps onto Envestnet turf by signing $20-billion, 975-advisor account with its robo-manager

Aaron Klein's Autopilot takes aim at 65% of advisors who find TAMPs are both expensive and too much abdication of portfolio management customization

February 6, 2018 — 10:26 PM UTC

After PayPal demurs, Michael Kitces and Alan Moore launch online payments firm for RIAs

Advisors and two Missoula, Mont. angels will fund AdvicePay for increased staffing to sell and service software so that advisors can do billable hours without triggering a custody audit

January 25, 2018 — 7:41 PM UTC

Mike Alfred also exits BrightScope to follow brother Ryan into cryptocurrency sphere

With Mark Casady and Josh Brown as backers, the former BrightScope CEO raised a quick $1.5 million over the weekend, partnered with a third Alfred -- Eddie -- and set about casting light on 1,000 cryptocurrencies for hedge funds

January 24, 2018 — 4:13 AM UTC

Ron Carson 'arrived' after investing $52 million, grabbing Orion and TD talent and letting his hair down

Pumping out content 'like Netflix' and preparing for an Amazon fee squeeze, the Omaha entrepreneur is set to just keep investing in growth

January 23, 2018 — 7:44 PM UTC

Greg Friedman buys 'needle-in-a-haystack' Seattle RIA

With a much more feminine look, the CEO of Private Ocean can now assault Amazon.com wealth

January 20, 2018 — 12:11 AM UTC

Chafing under $4 trillion of passive assets, BlackRock CEO warns Fortune 500 CEOs he may bring other activist means to bear

Already adding 'factors' and Aladdinizing robo-technology, Larry Fink's 1,755-word missive warns his firm will also invest with good of society in mind

January 18, 2018 — 6:51 PM UTC

How much of SS&C's $5.4-billion buy of DST Systems trickles down to Black Diamond RIAs? Maybe a good bit

The mother lode of DST data is expected to salve RIA data aggregation distress as the mega-vendor of data to Advent Custodial Data comes in-house

January 17, 2018 — 6:54 PM UTC

Eric Clarke makes seven big Orion hires that reflect the big check it wrote to Bain & Co. -- including a 'poach' from his brother, Todd

The word-of-God consultant told the Omaha, Neb. software maker to build Eclipse, which worked well, and sparked demand for asset management and marketing experts

January 12, 2018 — 7:28 PM UTC

With hedge fund help, Andy Rachleff buys Wealthfront $75 million of time and swaps out 'robo-advisor' moniker he reviles for his own coinage

Tiger Global PE unit's cash buoys CEO of Silicon Valley who recategorizes his robo as 'software-only' and gives it new life in contending with front-running Betterment

January 10, 2018 — 8:12 PM UTC

Parthenon Capital buys Simply Money, adds it to Hanson McCain, and 'presto' a $3.3 billion radio show-based RIA roll-up rises

The PE firm already knew principals Nathan Bachrach and Ed Finke who bring $700-million-plus AUM from Simply Money generated largely by their daily broadcast

January 6, 2018 — 1:21 AM UTC

Greg Friedman pockets maybe $20 million, subtracts one full-time CEO job and goes all in on Private Ocean

WisdomTree pledges $30 million of cash and 56 year-old seller will pour his energies into building $1.2-billion RIA with new roll-up strategy

January 2, 2018 — 10:28 PM UTC

Fidelity sounds alarm over RIA discounting but Mark Tibergien, Eric Clarke and others see it differently

Pershing's Gabe Garcia sees more RIAs raising fees than lowering them but Fidelity's David Canter says he observes real-life discounts that support survey results

December 21, 2017 — 5:05 PM UTC