People Moves Related to "BlackRock rattles giant saber at Schwab and Fidelity by launching high-yield 'money market' funds that 'circumvent' shelf-space controls and pay big"
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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.
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.
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
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.
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.
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.
Vanguard hires ex-Barron's, ex-Fido 'thought leader' and CFP for mission impossible -- to better speak to RIAs after years of viewing third parties (and their fees) suspiciously
Jul 15, 2026The $12-trillion asset manager stealthily brought Beverly Goodman aboard to cultivate advisors that Jack Bogle was leery of, though his views evolved later in his career.
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.
New Vanguard CEO hires 10th non-Vanguard exec, a fellow BlackRocker • MaxMyInterest goes up-market with yacht loans • Ron ‘Omani’ Carson is offering post-materialism soul recovery for $8,500 a month
Feb 14, 2026Vanguard seems to be erring toward new blood, though it was never purely old blood • RIA cash manager floats products to ultrahigh-net-worth • The former LPL top seller now sells wealth acquisition methadone
Vanguard sued by direct-indexing founders for allegedly cajoling a deal for Just Invest where the payoff came from hitting targets that the fund giant, allegedly, impeded -- actively and passively
Jul 17, 2025The Malvern, Pa., asset manager has yet to answer the claims, but the suit's acrimony could lead to a public relations black eye.
In a massive overhaul, Vanguard will split its $10.4 trillion in funds between two 'distinct' management teams with separate trading desks potentially trading against each other, analyst says
Jun 25, 2025The index fund leader will separate 'hot button' corporate governance by team, and hopes to reap deeper focus, greater flexibility, and more opportunities for growth.
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
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.
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: 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..
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.'
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.