Articles written by Brooke Southall


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Anthony Scaramucci, who equated DOL rule with Dred Scott SCOTUS decision, gets Trump nod -- a hire that Sean Spicer rejects but which Knut Rostad partially respects

After jumping into the fray to defend Donald Jr., 'the Mooch' -- once fired as a Goldman Sachs broker -- will craft communications for Donald Trump as financial and legal smoke threatens to burst into flame

July 21, 2017 — 11:45 PM UTC

What to make of Bill McNabb exiting Vanguard mid-rise, forsaking as much as a $15-million annual salary and what Jack Bogle might have to do with it

The Vanguard CEO played the indexing explosion to perfection and silenced the founder in 2016 as he kept his Malvern, Pa.-based giant on an investor-friendly course

July 14, 2017 — 12:01 AM UTC

A year after John Copeland came to AMG with blue-ocean RIA growth plan, the publicly owned asset management giant spins him into new venture

Instead of sitting out frothy M&A market for $4-billion-plus RIAs as AMG exec, the now former president of the RIA unit is hustling, with more diverse backers, to crack the chronically stagnant M&A market for small firms

July 12, 2017 — 6:11 PM UTC

Schwab and Dynasty break $1B Celenza team out of Merrill Lynch five years after Barclays effort flags

Matthew Celenza reunites with former Citi contacts Shirl Penney and Todd Thomson to resume shared vision

July 11, 2017 — 2:01 PM UTC

Eight years after historic Schwab-RIA rift, Jim McCool, the controversial former RIA chief and original Bettinger partner, exits

After McCool hastily axed alternative investments from Schwab RIA platform, Bernie Clark took the chief custody role as part of the healing process

July 6, 2017 — 11:07 PM UTC

Mindy Diamond unleashes her 26-year-old son on Wall Street to cut deals and recruit recruiters

Louis Diamond has a Manhattan office, an M&A mindset, a willingness to call his mom 'Mindy' and a green-pasture outlook when it comes to the RIA business

June 30, 2017 — 6:46 PM UTC

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