People Moves Related to "An advertiser's-eye view of TD Ameritrade's national conference"
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With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
Aug 13, 2022CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
Vanguard Group shows up as 'alpha' disciple with two new fixed-income fund launches as it surpasses PIMCO's $2 trillion with ex-Goldman Sachs partner now calling the shots
Aug 10, 2021The $8 trillion Malvern, Pa. manager owns beta investing, but RIAs are demanding higher income -- hence market timing and cherry picking -- from their fixed-income allocation.
Adam Birenbaum assumes the CEO hotseat at Focus Financial, becoming third chief executive in three years as Michael Nathanson steps down in 'plan' he 'designed'
Dec 13, 2025The 47 year-old St. Louis phenom takes over from the 58 year-old ex-Colony CEO but with the same steep challenge of making 70 autonomous RIA units work more collaboratively, while adding more RIAs.
RIAs beta-test Denali, Orion's 'future' • Altruist AI goes upscale • Fidelity revenues soar; weeds out ETF flops • Envestnet nets new CTO • DPL, Robinhood hit milestones • Schwab now inside Advyzon software • Wisz & Fava back start-up • eMoney launches mass affluent 'Plan B' • Trump biz adds betting
Oct 30, 2025Fidelity is in sweet spot, doing it all • Orion is testing its new cornerstone tool, but it won't reveal pricing until 2026 • AUM milestones hit • Advyzon lands Schwab deal • RIA big-hitters back start-up • eMoney is plotting downmarket growth • Trump follows Robinhood's lead • Joe Lonsdale wants pardon policy changed.
BlackRock adds Fidelity's retail legend and Morgan Stanley ex-retail chief, sparking belief Larry Fink is eyeing wealth channel
May 1, 2025The Wall Street asset giant added Kathleen Murphy and Greg Fleming to its board and retail investors know iShares and Aladdin.
Envestnet quietly cleans up a mess behind take-private veil • Michael Kim is now a two-TAMP CEO • Bill Ackman scolds Trump, Lutnick for tariff overkill, alleged conflicts •
Apr 8, 2025Kim is now head of 'RIA' TAMP • In broad daylight, AssetMark edges closer to swallowing Adhesion • Ackman irked over ‘massive, disproportionate’ tariffs • Fisher sees market upside, if and when tariffs fail.
BlackRock, Goldman Sachs will curtail DEI HR outreach to comport with new Trump executive order, but neither signals they want to abandon diverse workforce
Mar 5, 2025The world's larget asset manager will subtract racial and gender targets for job interviews but will find new ways to hire candidates that head off 'groupthink.'
RIABlitz: Vanguard technology • Pontera rebounds • Ex-HiddenLever's exec success • BlackRock rocked • Vivek's crypto • WF dunks SF? • Betterment dry option• Vestwell poached
Jan 11, 2025The RIA firehose of news is rife with tactical moves to shore up voids, play catchup and react to a new concept of political tailwinds
The upper RIA echelon mass-exit is now at 25 execs and counting -- for 25 'reasons' -- but it's hardly a coincidence, analysts say
Jun 7, 2024Burnout and EBITDA weigh on CEO-types as never-ending exits claim Ron Carson, Aaron Klein, Bernie Clark, Rudy Adolf, Bill Crager and Tim Buckley.
Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k
Jun 7, 2024Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.
Another A-list RIA Schwabbie lands on his feet -- this time at DeVoe & Co. -- after TD Ameritrade merger displacement of 2,000-plus
May 10, 2024Tony Parkin takes the reins as president of the San Francisco M&A shop and reunites with ex-Schwab boss who left 14 years ago
Adam Birenbaum's calls 'Colony' deal -- to create $100-billion super-RIA -- a 'mandate,' but it's also likely a 'prelude' to larger strategic objective, M&A expert says
May 7, 2024The 46-year-old CEO of Buckingham Wealth's 'long game' approach keeps paying dividends; it comes down to his approach to relationships
Michael Nathanson's new post as Focus CEO could create an 'apparent conflict' with his duties at Colony Group, which is snapping up billions in Focus RIA assets -- but 'partners' now have one of theirs in the power seat
May 1, 2024The CEO of Colony, the $22-billion Boston RIA, is buying $10.4-billion GW & Wade from Focus, making him buyer and seller, as he takes the reins as first permanent Focus CEO since Rudy Adolf.
A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says
Dec 20, 2023The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.
Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation
Nov 3, 2023Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.
Focus Financial makes 'abrupt' CEO call, lets Rudy Adolf go into 'retirement,' with 'no solution in place;' the eighth RIA chief executive unseated since June as VCs move in -- where is the EBITDA?
Oct 24, 2023Clayton, Dubilier & Rice closed on its $7-billion purchase of the roll-up on Aug. 31 -- with no hint that its parting of the ways with legendary 60-year-old founder was in the offing.
Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond
Aug 22, 2023The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30
Biz Briefs: AdvicePay waives key hiring requirement to land its next CEO • ESG firms may get OK in Oklahoma • eMoney adds new chiefs • CFP Board names new chair-elect • Robinhood cuts more staff
Jul 26, 2023Alan Moore replaces himself with another guy with two respectable titles • eMoney promotes two • Moisand's third in line now known • Robinhood sacks 173 in year-to-date.
Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance
Mar 25, 2023Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.
Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs
Jan 13, 2023BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..
Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one
Oct 11, 2022The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says
Dimensional Fund Advisors, long the flagship of factor investing, struggles to chart a course as a nimble rival and big foot competitors cut into its market--and exploit its slow move to ETFs
Aug 9, 2022Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'
Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock
Jan 6, 2022The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'
Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder
Dec 27, 2021The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Dec 17, 2020Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
Goldman Sachs nabs TD Ameritrade's Darla Sipolt for RIA custody; Kate Healy, Jim Dario and Peter Dorsey are among 1,000 staffers cut by Schwab post TD merger
Oct 27, 2020Included in the wholesale reduction of the Omaha, Neb.-based broker's redundant talent, about 40% of TD Ameritrade's marketing staff also got word today they have no future with their San Francisco-based owner
Skip Schweiss exit from TD Ameritrade means the RIA custody business lost its most visible corporate-paid advocate -- for the moment
Aug 5, 2020TD's now ex-managing director of advisor advocacy is set to become the FPA president, but most peers agree the 58-year-old is poised to 'write his ticket' with another custodian or national RIA
Envestnet nabs Dani Fava to cross-pollinate semi-autonomous units and reap 'financial wellness' as the end product
Jul 23, 2020The Chicago outsourcer has a massive, partially disconnected arsenal of products that CEO Bill Crager is rationalizing into 'wellness' with yet another new unit.
Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology
Mar 11, 2020The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.
Walt Bettinger axes current and former Schwab retail chiefs, Terri Kallsen and Andy Gill; funnels responsibilities to Jonathan Craig, for now
Jul 24, 2019The Schwab CEO is 'restructuring,' which includes cutting the Chairman's Club program that sent 200 top performers to Hawaii on a free junket
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
Jul 23, 2019The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing