Oisin Breen
Articles written by Oisin Breen
Headline
Publish date
Vise's two co-founders, both 23, launch 'hard reset' -- still with $78 million and a six-year runway -- to no-'hallucination' AI business model where RIAs can opt out of artificial intelligence
The two co-founders in New York City spawned magical thinking about AI, but hard experience means they are the clear-eyed ones now, they say
May 23, 2023 at 8:25 PM
Aaron Klein fuels up with a 'jarring' new moniker, Nitrogen, and explains in a new Q&A: He knows his lane and won't let sentimentality slow his quest for unicorn status
The Nitrogen CEO and master showman wants RIAs to know they can grow like hothouse tomatoes, that TAMPs won't have to fear his fearless advance and that local signmakers have a place on his rising tide
May 9, 2023 at 8:37 PM
Biz Briefs: SmartAsset makes deal to dumb down selling for unsalesy RIAs • Vanguard re-explains conflicting ESG signals • Alex I jabs Alex II at Citywire in bare knuckle exit [to Goldman Sachs] Q&A • BlackRock has clear path to $15 trillion by 2028 says mega-client
SmartAsset uses M&A to rewire RIAs • Vanguard has made its first statement on climate since it left a climate lobby group • BlackRock gets Morgan Stanley praise • CRM giant RedTail increases ties with a New York cash sifter, Flourish • Orion gets into online education.
May 9, 2023 at 2:16 AM
With a 'loud' RIA custody outburst under ex-Schwabbie, SEI piles onto a mob effort to break Schwab/TDA RIA custody stranglehold
Gabe Garcia is not alone seeing Schwab's ballooning scale as something to pop-- with Envestnet, Altruist, Goldman, LPL, TradePMR and AssetMark all working on new delivery models.
May 5, 2023 at 3:44 AM
Rob Foregger sold his big co-founder stakes in Personal Capital and NextCapital and now he's putting the money to work -- and trying not to get worked up
The Stowe, Vt. entrepreneur is makng a 12-18 month push for MarketGrader as he upshifts as part of a bigger professed downshift
May 3, 2023 at 5:15 AM
Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor
Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.
April 29, 2023 at 1:36 AM
Betterment learns 'move fast, break things' has its price after settling SEC compliance charges for $9 million over transparency, disclosure lapses involving tax loss harvesting
The $36-billion New York City robo-advisor has since upped its game by hiring a Merrill Lynch compliance alumnus and a CEO steeped in 'operations.'
April 28, 2023 at 1:52 AM
InvestCloud CEO John Wise and management team ousted after VC investors grow impatient for long-promised deliverables that always seemed just over the rainbow
Dubbed an 'Envestnet killer,' the LA company has yet to deliver disruption from its $1 billion VC investment combined with roughly $1.5 billion of other motley gems.
April 26, 2023 at 11:25 PM
Skience, a top Salesforce customizer, just lost three top-tier execs -- boom, boom, boom -- with Salesforce overhang likely contributing in hotly competitive market
No sooner did the Herndon, Va., reseller roll out 'bundles' to RIAs and enterprises than its president/COO and two sales/marketing talents exited as its offering faces world of new challenges.
April 22, 2023 at 5:23 AM
Altruist's Jason Wenk wins Marty Bicknell's capital as part of $112-million 'D' raise but the bigger challenge is winning his RIA's AUM
The founder and CEO of the Los Angeles custodian says 'mums the word' about his exact plans with $110-billion AUA RIA and OSJ, Mariner Wealth, but that all will be revealed soon enough
April 13, 2023 at 11:31 PM
After leap to $110 billion AUA, Marty Bicknell sets hard date for Mariner to hit 5,000 advisors predicted by wife and COO Cheryl
The CEO of the Overland Park, Kan. RIA -- in keeping with her San Diego bomb drop -- is ramping up to add 4,000 mostly 1099 advisors -- putting a target on LPL Financial, OSJs and other IBDs.
April 12, 2023 at 1:36 AM
The broad spectrum friendship of Brian Hamburger and Shirl Penney now includes sharing most of a $5-million bet into proving that SmartRIA lives up to its straight-A name
The principals of MarketCounsel and Dynasty Financial go all-in on software that keeps RIAs all good with the SEC -- without being all-consumed by an unrelenting task.
April 11, 2023 at 1:29 AM
Scott MacKillop got his flat-fee startup to $1.4 billion in eight years, negotiated its sale over nine months and largely got friends and family investors cashed out
The First Ascent sale means the Denver-based founder's second ascent as head of a GeoWealth holding won't be beset with worry about cash burn, not least because free GeoWealth software puts it into the black -- and makes it more of a TAMP than an investment manager
April 5, 2023 at 8:05 PM
Schwab assures it has financial muscle to shrug off billions of dollars in unrealized bank losses, but interest rate blunder exposes vulnerability if Fed hikes continue, analysts say
An estimated 16,000 RIAs with $3.3 trillion assets custodied at Schwab Advisor Services should be insulated from any calamity at bank subsidary.
March 30, 2023 at 3:48 AM
Manish Khatta gives Schwab and Fidelity 'A' grade -- and a backseat -- after Altruist gets A+ to win the RIA inflows to his $750-million TAMP
After Fidelity discontinued DocuSign API and uncertainties rose at Schwab, Potomac Fund Management's CEO spent nine months vetting RIA custodians
