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Articles written by Brooke Southall


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Philipp Hecker: 'We'll bring it to the middle- and bottom-of-the-book of business

Two ex-J. P. Morgan top wealth management overlords debut Bento Engine by raising $1 million from RIA power influencers who see a micro-investment solving a macro RIA problem

Marty Bicknell, Andy Putterman, Kelly Waltrich and Shannon Eusey lead a list of RIA biz angels taking a shot at 'Life Numbers' -- a Vestorly-like model with its own 'secret sauce' and love from the CRM super-friends

June 22, 2022 – 8:19 PM

Jim Mocci: I'm absolutely a data driven marketer.

After Fisher Investments leapt from $65 billion to $200 billion of AUM with him as a lead brand manager, Jim Mocci jumps ship to $15 billion RIA with a playbook to reach $50 billion

The Salt Lake City executive helped feed the creative engine that powered gargantuan organic growth at Fisher Investments, with data derived from the investors themselves

June 21, 2022 – 1:48 AM

LPL chose the Booth School as a setting to say it won't abdicate the high-net-worth market to Wall Street.

LPL Financial makes 'full-service' play with a wirehouse trick and some DFA vibes by launching 'private client' offering from the University of Chicago

The San Diego broker-dealer grew to be No. 1 by backing partially served mass affluent brokers and used a symposium at the university's Booth School as a backdrop to tell its reps they can compete with Merrill Lynch.

June 17, 2022 – 12:08 AM

Oleg Tishkevich: Right now, it's basically for geeks. We want it more turnkey for developers like [the way] Azure or AWS [do it].

Oleg Tishkevich makes two familiar, key ex-TD Ameritrade hires as INVENT hits 20,000 users and shifts into high gear to serve RIAs

The INVENT CEO and founder gets Craig Uhlenkott and James Byers to hone RIA product fit for a more turnkey developer package to go with pre-existing app store.

June 16, 2022 – 2:16 AM

Barrett Ayers: 'Joining AssetMark allows us to ... advance our investments in new capabilities.'

Vestmark sells Adhesion to AssetMark after quickly (nearly) tripling the 'RIA' unit's AUM, but AssetMark will plow cash into an upgrade

The Concord, Calif. company announced the deal for the Charlotte, N.C., UMA provider and direct-indexing vendor amid sinking markets.

June 15, 2022 – 12:40 AM

Stuart DePina's exit is part of 'pivotal moment' in play to 'better innovate.'

Envestnet finally, officially, (mostly) parts ways with Stuart DePina but adds back his old Tamarac division then promotes Dana D'Auria, Farouk Ferchichi, Tony Leal and Tom Sipp in a major new restructuring

The $5-trillion Berwyn, Pa., software, investments company and Yodlee owner reveals the next generation of leaders succession and, it hopes, success for shareholders

June 8, 2022 – 12:17 AM

Samir Vasavada: 'We want to nail the product and then think about growth.'

Vise pivots its unicorn toward the mass affluent market and signs revenue-sharing deal with Paul Hatch's startup, but analysts still wonder why it's so un-freemium

The New York City startup struggled to find the right strategy, but its moonshot ambitions are intact; the ex-Smith Barney chief is a believer -- though its pricing overshoots the mark, some observers still say.

May 26, 2022 – 1:28 AM

Vinay Nair: It's 'an approach we call 'embedded investments.''

TIFIN raised $109 million at unicorn-like valuation to deliver 'single largest data platform for the world of wealth and investments' -- would deliver 'embedded' products through super apps in micro-capsules

The Colo. firm just sold 14% of its conglomerate based on an eye-popping valuation to keep up with rising cash burn and appetite to buy, buy, buy...

May 18, 2022 – 12:26 AM

Rudy Adolf: We certainly avoided so many of the -- I think I called them 'drunken sailor transactions'.

As Focus Financial shares languish, Rudy Adolf plans $200 million buyback and rebuffs questions he's overpaying for RIAs--because he avoids 'drunken sailor transactions'

The New York City rollup buys at private prices then sells at public valuations, but now the CEO's buying at public share prices in some 'privately negotiated transactions' hoping for a bounce

May 13, 2022 – 2:31 AM

Kurt Brown: [An OCIO] is technically a TAMP but a lot more hands on.

Orion enters booming OCIO market with $6-billion AUM startup purchase, based on very firsthand knowledge

The Omaha, Neb., software and investments firm is buying Utah-based TownSquare to move upmarket to $2-trillion outsourced chief investment officer services

May 11, 2022 – 1:23 AM

Dan Needham: We seek out companies like SMArtX that are breaking through the boundaries of traditional technology.

Morningstar buys a $30-million stake in SMArtX, gets two board seats -- and a puzzle piece to launch direct indexing later this year -- in the bargain

The Chicago money manager of $251 billion previously said it was supplanting InvestCloud's APL with a SMArtX rental; now it's purchasing a piece of the success it'll help assure

May 4, 2022 – 2:54 AM

Nimesh Patel: 'We don't want to have to become an Orion. That's a big lift.'

Orion Advisor Solutions moves to let RIAs eat real-time 'cake' rather than API 'recipes' with help from Amazon's AWS and a determined Carson Group

The Omaha, Neb., software and investments firm is already doing a pilot with Ron Carson's $20-billion RIA and will make the data leapfrog across its clientele

May 3, 2022 – 3:07 AM

Vlad Tenev's storybook company is having to make more grownup choices.

Robinhood sheds 'layers' by laying off almost 9% of 3,800 staff as it seeks to also minimize burn rate of the $6 billion sitting on its balance sheet

CEO Vlad Tenev is retrenching at the Menlo Park, Calif., firm, hoping to recapture the 'focus' the company had as a 'lean' unit of 700 people.

April 27, 2022 – 1:38 AM

Brian McLaughlin (far right, Eric Clarke far left, Corey Westphal middle at USC game where deal was proposed in 2019): 'My philosophy was blinders on.'

In blockbuster deal, Eric Clarke gets Brian McLaughlin to remove 'blinders' and sell Redtail to Orion after one football game and three years of 'unreturned text messages'

The Redtail CEO and founder will now be an Orion board member and major shareholder but arrived at his friend's vision and mindset at his own pace.

April 20, 2022 – 1:55 AM

Walt Bettinger:  We took steps to help our clients navigate the mutual fund selection process more efficiently.

T. Rowe Price gains house brand status on Schwab's active fund platform and will pay up to $10-million yearly for the honor, but the deal is not without potential conflicts of interest

In today's earnings release, Schwab CEO Walt Bettinger talked up the arrangement, which rolled out in February as part of Schwab's 'Fund Finder,' after first announcing it for RIAs in December.

April 19, 2022 – 1:58 AM

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