Articles written by Brooke Southall


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Advizr gets Series A $7-million investment in bid to create software with best of eMoney, MoneyGuidePro and Mint.com rolled into one

Franklin Templeton, SEI and Fenway Summer place $7-million wager on Hussain Zaidi, a former Ameriprise broker who cites his 'unfair advantage' in starting from scratch against a software category that got going decades ago

June 22, 2017 — 12:28 PM UTC

Triumphant Phil Fiore set to regain $8.4 billion of AUA that UBS stripped away by firing him in November

Reunited with former partners at newly founded RIA Procyon Partners, and despite a last-minute UBS lawsuit seeking a restraining order, the wirehouse veteran appears to be back in the driver's seat

June 19, 2017 — 2:00 PM UTC

RIABiz to roll out 'Power Players' series -- with irony

Six RIA companies are driving a mini-renaissance after the 2008-'09 crisis exposed the brokerage industry's dearth of creativity, never mind integrity

June 14, 2017 — 9:56 PM UTC

Addepar raises $140 million, unveils a very Tesla board member and seeks RIA data utopia

The 'D-round' VC raise led by Valor is a 100%-plus jump from the $65.8 million invested to date

June 8, 2017 — 1:31 PM UTC

Dynasty Financial wins its first Goldman Sachs team -- a Schwab RIA now with $1 billion of UHNW advised assets

Amid 'uptick' nationally in Goldman Sachs teams bolting, David Darby and Melissa Gray reunite with big help from the New York umbrella firm and Black Diamond software

June 6, 2017 — 2:15 PM UTC

Joe Duran stops Steve Forbes cold in televised exchange regarding DOL rule

The United Capital CEO only had to fire back once to shut down the voluble Forbes publisher

June 2, 2017 — 8:49 PM UTC

Buried in 11th hour FAQs, Alexander Acosta finally zaps 'warranties' from the DOL fiduciary rule -- at least for June 9 implementation

The hyper-explicit fiduciary promises at Obama-era rule's heart survived multiple rounds of edits but quantity and specificity of language surrounding suspension of warranties suggests they'll eventually come back full force

June 2, 2017 — 6:19 PM UTC

Alexander Acosta's DOL rule letter to WSJ contains double message and one long-term objective: 'Gut' it

Labor Secretary explains that flouting administrative rule is counterproductive but his comments to Wall Street Journal 'parrot' the brokerage lobby line, reassuring them that larger effort to kill the regulation is on track

May 23, 2017 — 7:29 PM UTC

Anthony Scaramucci admits Trump hire 'didn't materialize' amid 'rambling' series of confessions at SALT conference, press reports say

With no job, no Trump appointment and a 'rabbit hole' factor, he got backhanded support from the hedge fund community in Las Vegas, according to Reuters and The New York Times

May 22, 2017 — 11:07 PM UTC

Addepar deal may salve big, lingering pain point for RIAs who use alternative investments

The Mountain View, Calif. software firm bought AltX to help back-end operations catch up with front-end display

May 19, 2017 — 11:46 PM UTC

Focus Financial's 'extraordinary' purchase of $16B-AUM SCS Capital and what Stone Point -- both buyer and seller in the deal -- may do to juice its investment

With Stone Point CEO Charles Davis now calling the shots, the RIA roll-up tacks to UHNW-directed RIAs, perhaps for their positioning in selling insurance

May 17, 2017 — 9:06 PM UTC

How Joshua Pace seized his 'moment' to convince Mark Matson to shift $1-billion-plus of assets to his small RIA custodian after a 20-year tryout

Matson Money had RIA assets with Trust Company of America as far back as 1996 but its plan to go national made the $7.6 billion RIA see the deeper beauty in the smaller player

May 15, 2017 — 8:47 PM UTC

Wealthfront nixes Apex Clearing and explains it as step in ridding 'semi-manual processes and disjointed systems'

The Redwood City-based robo-advisor says in its blog that its software advance enables new destiny in "personal banking"

May 12, 2017 — 10:18 PM UTC

Mark Matson's $7.6-billion DFA TAMP exits Schwab custody as it sets $100-billion AUM goal

With 'reset' mindset, Matson Money trains his advisors to meet with investors en masse following a Weight Watchers script

May 10, 2017 — 9:08 PM UTC

In echo of DFA-RIA custody strife, Morgan Stanley nixes new Vanguard mutual fund account openings

As the idea of a fund shelf diminishes, the Malvern, Pa.-based firm's refusal to pay such fees earns cold shoulder from the top New York wirehouse

May 4, 2017 — 10:56 PM UTC