People Moves Related to "An RIA is stripping out software from $1 billion-plus of acquisitions -- with a new $48.5 million raise and sky-high praise -- but critics say Arca Wealth mostly has a new narrative for an existing business model"
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Jason Wenk raises $50 million from Vanguard Group and others, and Altruist may soon overtake Pershing's No. 3 RIA custodian spot, the Altruist founder asserts
May 20, 2021The Los Angeles founder's disruption blitz involves a mobile-first Robinhood feel and a plug-and-play outsourcing one-stop-shop -- a sweet combination, except that it may not lure many big RIAs, analysts say.
Altruist CTO departs after just one year -- but what a year; Jason Wenk cites strong bench and says search is on to fill Sumanth Sukumar's shoes
May 5, 2026Sumanth Sukumar will be missed as chief technology officer, Altruist CEO says, but Hazel CEO remains and other key technology heads.
Altruist cuts two dozen workers in second layoff round this year, for a net staff slide of 16%, despite growth -- ‘It’s on me,’ says Jason Wenk
Oct 21, 2025The Culver City, Calif., custodian's CEO issued the mea culpa, citing loss of focus, but says company hiring should cut headcount losses to 14% on the year
State Street signals it's ready to 'disrupt' RIA custody five years after abrupt exit, madly hiring Altruist veterans to build Apex powered, 'digitally native' Al platform, but no official word yet
Apr 3, 2026State Street sold its $200-billion niche unit in 2021 to FNZ but may have had seller's remorse; now, it appears ready to offer a high-end, multi-currency custodial superpower at a time when RIAs may need that edge.
Mike Durbin reunites with his Fidelity/eMoney running mate, Ed O'Brien as No. 2 at Cetera, in part to help 'RIA & Branches' channel take shape
Mar 26, 2026The new Cetera CEO now has a 'major asset' in former Fidelity/eMoney wingman who left the Boston giant in January -- as in-house RIA rollup progresses
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.
Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer
Jun 29, 2024Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
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.
Tim Buckley sends shockwaves by retiring as Vanguard CEO after adding $750 billion per year during his stay in the executive suite
Mar 1, 2024The 54 year-old lasted just over six years in the job, delivered on targets, but he also made head-scratching decisions and never solved its technology woes
Orion names 'left-brained' Natalie Wolfsen as CEO to replace Eric Clarke, and AssetMark, which synchronized its announcement, hires Michael Kim as her replacement
Sep 8, 2023Orion Chairman Charles Goldman again lures his protege to self-replace, while Michael Kim was 'integral to AssetMark’s record financial performance over the past several years'