Brooke Southall
Articles written by Brooke Southall
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After a time of tumult, InvestCloud is divulging a reimagined business model where alts are the main course -- but analyst is wary that it's really just another TAMP
CEO Jeff Yabuki says the company had to 'take a little step back' but can now use its APL machinery to go back on the attack for an awesome objective -- to become the central clearinghouse of alternative investments to wealth managers via model portfolios
October 1, 2024 at 1:05 PM
Envestnet shareholders make it official, they want out of public shares, clearing Bain Capital to press forward -- leaping other hurdles and getting the TAMP at a cash-in-hand discount
The in-limbo Berwyn company still doesn't have a permanent CEO and one losing bidder was FNZ, which is also its named RIA custody partner
September 26, 2024 at 2:43 AM
Charles Schwab Corp. sets 2025 to shut down RIA robo-advisor, will stop onboarding RIA clients in November 2024, offering legacy TD Ameritrade software as replacement
The sister robo advisor, Schwab Intelligent Portfolios, will live on as a retail offering but got nixed from Schwab's wealth RIA -- expunging reference to 2022 SEC sanction -- and now will be under RIA of Charles Schwab Investment Management
September 25, 2024 at 2:05 AM
Schwab Advisor Services discloses IMPACT 2024 details -- think Jon Beatty, AI experts and Dan Pink; it veils the venue, but ... psssstt
The $9.5-trillion brokerage shows its heart is still in San Francisco, and of course, it's hosting at the Moscone Center, featuring new head Jon Beatty, Rick Wurster and Walt Bettinger [no Bernie or Chuck]
September 20, 2024 at 1:24 AM
RIA citizen and pro comments range from 'shocked! shocked!' to 'ho-hum' on Fed's 50-point rate cut but agree on key points
Small wealth practice owners and economists agree employment and housing can benefit from cheaper money, but inflation reduction could be arrested
September 19, 2024 at 12:12 AM
Wealth.com extends win streak, again -- Google Ventures (GV) leads its 'A' round -- by making AI-driven estate planning seem doable to advisors
The 2020 Phoenix startup wins $30 million after it scored the ultimate wealth URL then kept rolling winning big vendors, big RIA tech awards and big-name backing.
September 17, 2024 at 3:36 AM
Under new owner, AssetMark names new CEO, but Michael Kim is keeping his CEO job, too -- as post-TAMP era draws near, and company gears up for 'aggressive growth'
The Concord, Calif., TAMP is adding the second CEO to jack up leadership bandwidth to grow organically and inorganically -- and evolve into a more generalized outsourcer.
September 11, 2024 at 4:12 AM
Steve Chen sunsets 'NewRetirement,' launches a new brand and is set to take financial planning to vast masses, starting with RIA and enterprise C-suite chats
The founder of [now] 'Boldin' got to $70 billion and 30,000 customers as a 'consumer' app but the hard pivot to -- foremost -- an enterprise platform is set to go full tilt and '10X' comes into focus.
September 4, 2024 at 2:54 PM
Big RIA buyers flock to ECHELON M&A event and agree on one takeway: It's a 'seller's market' -- but maybe not forever
Cerity, Mercer and Summit Trail chiefs say tripling of practice buyers means multiples are staying flush, but they urge some caution to on-the-fence RIA sellers.
August 30, 2024 at 5:25 AM
Joe Duran goes big on first-ever 'Rise' deal -- a $10-billion 'Schwab' RIA-- big enough that his business model just shifted with it
The California entrepreneur is investing in '1099-model' RIA that spun out of Private Advisor Group and has minimized its LPL affiliation and is now barely hybrid
August 20, 2024 at 1:23 PM
Vanguard reads the room then launches new long and short duration active muni ETFs
The short and longer-term products out of Malvern, PA. are part of a longer arc and 'fixed income is sort of the final frontier,' Morningstar analyst opined
August 17, 2024 at 1:58 AM
John Wise is back, this time to crack the RIA front-end with AI, after his old firm, InvestCloud, tackled the RIA back-end with the cloud
The InvestCloud founder just landed a big building block for his vison -- an S&P Global spinoff with data for AI to turn into sweet wealth management reports.
August 16, 2024 at 1:40 AM
Envestnet shares climb after it drops 63-page bombshell disclosure about late $70 bid from competitor's board member before settling on $63.15 bid from Bain
The Berwyn, Pa., firm accepted the lower Bain offer ahead of ' Strategic Party A's' sweetened bid because the latter wanted 'several weeks' to procure cash and no part of 'Yodlee' unit
August 15, 2024 at 2:23 AM
Fidelity Investments picks Advyzon to tackle small RIAs, with shades of beloved Orion-TD Ameritrade package, but is Fido's small really 'small'?
The deal with the Chicago up-and-comer all came together in 2024 as part of Fidelity's quiet hire of ex-Vanguard talent to head emerging RIA unit.
August 9, 2024 at 3:50 AM
LPL Financial had a very rough week, despite BoA analyst intervention, as investors dumped shares with abandon and lawsuits piled up
'Cash' lawsuits are piling up, and even Ameriprise singled it out for alleged bad faith, while the stock fell 7.77%, just on Friday.
