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New Moves in the Biz

Gerard O'Reilly gets the co-CEO nod after 'evolving' DFAs investing process.

Months after being assigned a new co-CEO, Eduardo Repetto is out at Dimensional Fund Advisors

Gerard O'Reilly, a quiet superstar at the Austin firm, gets heaps of praise from DFA's chairman for moving its investing process forward

August 16, 2017 — 2:42 AM UTC by Brooke Southall

Brooke's Note: Few firms are better positioned than DFA in the industry due to three factors: It is an indexing pioneer, a factor investing pioneer and a pioneer in forging enduring links with hundreds of RIAs. But the competition is waking up. Competitive pressures can ...

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Michael LaMena: This represents a terrific opportunity for me to join a firm with significant growth goals and an impeccable reputation.

Elliot Weissbluth's second in command walks from HighTower to an ivory tower of 'pari passu' ownership with an 'impeccable' reputation

Michael LaMena trades in a $50-billion-AUA roll-up for $5-billion-AUM roll-up after headhunter lays out case of bright, de-Balkanized Bronfman Rothschild future

August 7, 2017 — 7:24 PM UTC by Brooke Southall

Brooke's Note: If you are a seasoned RIA executive looking for a blue-ocean opportunity then an unseasoned firm with growth pretensions wants you! Whether it's Mercer grabbing Dave Welling, Blucora grabbing Bob Oros, Parthenon pulling Scott Hanson out of semi-retirement, ACG grabbing Greg Fink ...

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Dave Welling: We will choose whatever technology best helps us deliver an outstanding experience to our clients.

Black Diamond loses serial white knight Dave Welling to a $10-billion RIA that uses Orion

The RIA performance reporting software giant in Jacksonville grew like crazy under its leader though two mergers but David Barton made an irresistible offer

August 3, 2017 — 4:43 PM UTC by By Lisa Shidler

Brooke's Note: We took our time with this story. There are so many moving parts to the Mercer poach and Black Diamond's loss resulting from Dave Welling's move. We wanted to do justice to the both the jarring changes and big successes ...

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August 1, 2017 — 6:01 PM UTC by RIABiz

In April, Jay Shah ascended to the CEO seat of Personal Capital Advisors Corp. after serving with the company, in two separate stints, since 2009.

He replaces Bill Harris, who retains the title of chairman. See: Power Player: Bill Harris gets big accounts at a ...

July 10, 2017 — 6:14 PM UTC by RIABiz

George Fischer is HighTower Advisor's new leader of operations and operational service support. The Chicago roll-up announced the hire after absorbing the loss of two of its biggest teams over the Fourth of July weekend. See; HighTower loses two teams comprising 33 people and $3 ...

July 10, 2017 — 5:53 PM UTC by RIABiz

Susan Krakower joined HighTower Advisors in June with a focus on leading initiatives to increase awareness of the HighTower brand among consumer audiences, the Chicago roll-up announced July 6. See: HighTower loses two teams comprising 33 people and $3 billion of assets over July ...


The head of the unit exits amid advisor chatter that the hyper-channelization of LPL sometimes makes six phone calls necessary when one would do

June 26, 2017 — 9:34 PM UTC by By Lisa Shidler

Brooke's Note: Every once in a while I pick up a phone call that was intended for my partner, Frank Noto, and it takes some presence of mind not to say: You'll have to call our advertising department; you've reached editorial. In the ...

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Jim McCool got off on the wrong foot with RIAs, paving the way for a Bernie Clark era.

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 by Brooke Southall

Brooke's Note: We'll never really know how to assign Jim McCool a place in RIA history. It was nearly impossible for a journalist to get him to speak off script and nobody on the inside ever gave me much color about him. But ...

Antonio Gracias: The idea of a common language and a truly universal data platform for the financial services world is something Wall Street 10 years ago could never have imagined.

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 by Brooke Southall

Brooke's Note: I believe it is still fair to ask whether Addepar is the second coming of financial software and data or an overbuilt RIA performance reporting application. What is not in doubt is that people who are proven uber-successes in Silicon Valley see the ...

Richard Davey: In the eyes of clients and prospects we meet, the CPA license carries more weight than anything else, MBA, CFA, or CFP included.

How number-crunching millennials launched an RIA and where a 72 year-old RIA comes in

Fiduciary Financial got going with a breakaway, a succession deal, a marketing approach and a Glass Door

June 5, 2017 — 5:08 PM UTC by Sarah O’Brien

Brooke's Note: When I first talked to these guys last month I was impressed to hear that they were a crew of young CPAs who made certain not to offer tax advice. Steeped in that training, they knew that tax law is so complex and ...


May 10, 2017 — 3:09 PM UTC by RIABiz

Fiduciary Trust Co. expanded its client service team by hiring James Cosentino as vice president and investment officer. 

Before joining the Boston-based privately owned wealth management firm, Cosentino most recently served as senior vice president and senior portfolio manager at U.S. Trust, where he created and ...

May 10, 2017 — 3:06 PM UTC by RIABiz

Kelly Guarino has joined Boston-based Fidelity Trust Co. and will provide trust administration and estate planning advice for clients in collaboration with Fiduciary’s investment officers and clients’ outside estate planning counsel.  She will also assist with estate settlement matters and issues related to private foundations and ...

May 10, 2017 — 2:51 PM UTC by RIABiz

Fidelity Trust Co. announced the hire of Neal Hegge as a vice president and investment officer as part of the Boston firm's expansion of its service team.

Prior to joining Fiduciary Trust, Hegge was a director of high-yield sales at Credit Suisse in London, where he advised leveraged ...

Noah Kerner: We respect what Wealthfront has created but Acorns has a very different customer and product roadmap.

As Acorns grapples with monetizing 1.1 million micro-accounts, the laid-back LA robo-advisor brings Wealthfront’s former chief exec onto its board

After this week's $1.3-billion Robinhood valuation, the sheer quantity of Acorn accounts may count for plenty in VC estimations

April 28, 2017 — 9:50 PM UTC by Janice Kirkel

Brooke's Note: Eight years into the whole robo-advice adventure it sometimes feels like providing financial advice to millennials has advanced exactly ... nowhere. Business models are pivoting left, right and often end up where they started. But a handful of ventures, by putting millennial participation ahead of ...


The serially successful wrap-program pioneer convinced CEO Mike Sha that he was the right guy to demystify the legacy-robo tech divide to employees -- and close deals

April 26, 2017 — 5:41 PM UTC by Brooke Southall

Brooke's Note: They say one key to success is a willingness to get lucky. Maybe Mike Sha just did. The young CEO of SigFig has a silver tongue that won him the accounts of Yahoo! and CNN in his startup's early days. But ...

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