Articles tagged "Scott Smith"


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Granddaddy $220-billion RIA 401(k) roll-up books new $20-billion deal but may have bought its way out of a growth plan

CAPTRUST did 26 deals in 10 years and finally the firm's old 'friend-enemy' partner, CapTrust was one of the few needle-movers left to make its last 10% inorganic AUM leap

September 11, 2017 — 9:45 PM UTC

LPL Financial clips wings of 20 top fund companies by asserting itself as 'gatekeeper' on newly launched DOL-proof 3.5% flat-commission mutual fund superstore

Using Labor Department as leverage, LPL cuts itself in as middleman between branded fund giants -- including Fidelity, Legg Mason and Putnam -- and its advisors' clients -- in exchange for semi-exclusive shelf space positioning

August 4, 2017 — 10:04 PM UTC

DFA RIAs remain in turmoil as Schwab and Fidelity ponder matching TD Ameritrade pricing deal and a key couple of basis points

The Austin, Texas-based asset manager says its door is open for negotiation but the two big custodians in San Francisco and Boston remain mum as RIA CEOs are pressing for clarity

May 2, 2017 — 9:32 PM UTC

Why ProShares yanked ETFs from Schwab's no-commission OneSource ETF exchange

The fund firm puts faith in the drawing power of its own brand -- and saves more than $2 million

April 3, 2017 — 7:04 PM UTC

Rekindling old feud, Michael Kitces blasts Betterment, if civilly, for stealth price hike and other shortcomings

The blogging phenom puts love-hate relationship with the New York robo phenom on display as he calls out Betterment's sustainability and growth-rate problems, but as a customer still sees more to love than hate

February 6, 2017 — 11:48 PM UTC

How Personal Capital got a stunning $1-billion AUM boost in six months -- after gathering its first $2 billion over six years

CEO BIll Harris says part of the secret is hiring human advisors to stoke referrals

September 21, 2016 — 9:12 PM UTC

Vanguard virtual RIA's growth rate plummets from 50% to 32% with a staggering consolation -- another $10 billion in AUM since January

Now at $41 billion, up from $31 billion six months before, Vanguard gorged on easy cannibalization but classic RIAs are also losing assets to the Malvern growth engine

August 2, 2016 — 9:30 PM UTC

Fidelity launches new robo as Schwab's hits $8.2 billion in assets

The Boston giant differentiates itself by its promise to keep cash holdings at less than 1% and in having a published fee -- albeit a floating one

July 27, 2016 — 4:06 AM UTC

With BlackRock ahead and blue ocean behind, LPL finds its robo comfort zone

With the 150 basis-point-plus price of Guided Wealth Portfolios, LPL's robo plan doesn't look so robo, except for the onboarding

April 15, 2016 — 7:59 PM UTC

Betterment raises $100 million a year after a $60-million round, enabling it to step up efforts to win the HNW wallet

The conversation is moving from play money to competing with Fidelity, Merrill Lynch and Schwab as it seeks build out a full-service offering to win plan sponsors, rich individuals and RIAs

March 29, 2016 — 11:57 AM UTC

Fidelity's annual $10,000 custody fee will attach to a wider swath of small RIAs

The dinging of the under-$15-million crowd is painful for initiates but a pleasing prospect for competing custodians ready to welcome defectors

September 24, 2013 — 5:02 AM UTC

Is UBS channeling its inner IBD in levying $15 charges on its advisors for redundant mobile devices?

The wirehouse's charges seem on target on paper but are they penny rational and pound foolish?

August 8, 2012 — 2:40 AM UTC
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