People Moves Related to "Fidelity reports 57% boost in 401(k) sales as it sets its sights on smaller plans and advisors "
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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
Bain Capital plays talent card to replace Envestnet's take-private CFO Josh Warren • Vanguard nabs new exec to figure out alts, it seems • Robinhood opens football bets, then sues • Advisor CRM's 'AI' catch-up • SEC delays Trump ETF date • ETFs explode in number
Aug 27, 2025After 11 years at Nuveen, Bill Stout is Vanguard's alts man of the moment • Betting a 'no-brainer' for Robinhood exec. • Bain Capital protegé is new Envestnet CFO • CRM shop adds AI to keep up with CRM Joneses • SEC prevaricates over controversial Trump ETF • 640 ETFs launched in 2025.
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.
During CEO Tim Buckley's waning months, Vanguard is imposing fees that may affect its older investors, while hand-off to Ascensus of certain IRA and 401(k) products also comes with some sticker shock
May 2, 2024The Malvern, Pa., giant transferred SEP IRA and 401(k) assets to its recordkeeper, which immediately imposed new fees, while Vanguard's new pricing schedule includes a commission to phone in Vanguard fund sales or purchases
Christa Carone, an ex-Fidelity and Xerox marketing whiz, steps onto a slippery slope at LPL with a daunting task -- to consolidate a NASCAR size brand portfolio... or not?
Apr 2, 2024With no CMO since August, the chief marketing officer will play catch up for a company still hungry to buy more branded B2B and B2C players.
Joanna Rotenberg is departing Fidelity Investments after only two years, writing that she traveled 20,000 miles and successfully split her retail division into wealth and brokerage units
Dec 16, 2023At her hire, analysts were adamant the head of Fidelity retail had 'big shoes to fill' to replace legendary Kathleen Murphy and her task of 'digitiizing' retail was no small ask
Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor
Apr 29, 2023Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.
Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
Feb 17, 2023The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
RIA Quick Takes: Orion deepens DFA embrace by using it as portfolio manager-inside-ETF ~ Hardship withdrawals surge at Vanguard and Fidelity ~ Schwab hires 400 ~ Fidelity flips six funds into ETFs ~ Kitces makes list before Christmas ~ Amit Dogra has $1 billion of good news from his new Portland gig
Dec 3, 2022Americans are struggling, though jobs are plentiful; Larry Fink's ESG zeal costs BlackRock another client, just as the Vatican issues ESG guidance; UBS says we didn't like you anyway to mass affluent and Michael Kitces and Craig Iskowitz join forces.
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
Jan 23, 2021The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift
Mar 13, 2020Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
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
How $7B Professional Capital Services is trying to out-nimble, out-RIA $188B Ascensus but with Edmond Walters there to carry a big stick
Feb 28, 2019The eMoney founder joined the Philly TPA's board to oversee a PCS that hires madly, rewrites software, RIA-izes its services and develops marketing punch
Capital Group miraculously recovered after deep 2008 dive but RIA help may get No. 2 American Funds through the next downturn under new CEO
Nov 2, 2018Matthew O’Connor takes the CEO helm of the giant LA-based active manager from Kevin Clifford with conviction not to jam the rudder hard but to be open to new markets