RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

People Moves Related to "Giant push is on in Washington to create a nation of savers"


Headline

Publish date


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

At 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

December 16, 2023 at 2:22 AM

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

Range 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.

April 29, 2023 at 1:36 AM

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

The $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

February 17, 2023 at 2:49 AM

Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings

Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'

January 19, 2023 at 3:31 AM

Oisín's Bits: Betterment now a robo roll-up with Canadian IPO as catalyst • Insurers risk regulation for COVID-19 coverage delays • Vanguard shifts Asia focus to China's vast mom-pop retail market

Betterment rolls up a robo • The CFA warns insurers over COVID-19 life polices • Vanguard names Chinese fund head to pursue $6 trillion market.

March 5, 2021 at 1:16 AM

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The '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

January 23, 2021 at 2:02 AM

Oisín's Bits: Wealthfront drops old mission statement, declares war on institutions and emphasizes banking future • Seeking Utah charter, Edward Jones may become largest bank in US by branch count • After Advent chief leaves, Black Diamond head steps up

Andy Rachleff cans the old 'democratizing' mission statement at his robo; The 14,200 one-man Ed Jones branches may become branch banks; Steve Leivent consolidates power at SS&C.

July 3, 2020 at 1:12 AM

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

Rich 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.

March 13, 2020 at 10:36 PM

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 at 1:06 AM

After recruitment of minorities and women gets CEO-level attention at Raymond James, a program gets a dynamic leader

With ratios stuck in the teens, CEO Paul Reilly gives chief marketing officer at subsidiary Carillon Tower Advisers, Renee Baker, her shot at mission impossible -- getting Advisor Inclusion Networks to live up to its Orwellian name

August 24, 2019 at 4:25 AM

TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor

The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing

July 23, 2019 at 4:30 AM

Last year's RIA chief departs Raymond James after ship sails without her at helm of RIA unit, leaving her anchored to COO role

Maria Daley took the reins after Bill Van Law's unexpected departure, but Greg Bruce came on in March to lead RIA Unit, a job she held on interim basis

June 6, 2019 at 2:16 AM

BNY Mellon's new CEO is an RIA fan, and Pershing Advisor Solutions made a big personnel move to reflect it

Charles Scharf loosened the Pershing purse strings for Mark Tibergien who created 'head of platforms' position for Christina Townsend

March 12, 2019 at 10:14 PM

Raymond James finally names new RIA chief and, yes, he is a Schwab veteran

The St. Petersburg, Fla. broker-dealer parted ways with Bill Van Law -- a Merrill Lynch veteran -- a year ago; now it has a real RIA veteran in Greg Bruce

March 4, 2019 at 11:54 PM


Capital Group miraculously recovered after deep 2008 dive but RIA help may get No. 2 American Funds through the next downturn under new CEO

Matthew 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

November 2, 2018 at 9:26 PM

BNY Mellon goes on a wild poaching bender as it sets sights on playing a very 2019 game of digital catch-up

Building on Bridget Engle's appointment last year, the New York superbank completes three-hire talent binge, with a money-no-object eye to boosting wealth management

October 18, 2018 at 7:28 PM

SEI goes hard after 401(k) plan sponsors by poaching a star from Northern Trust and bundling him up, but he'll be swimming against market trends

The Oaks, Pa.-based TAMP poached Scott Muench from the $10.7 trillion asset-manager and custodian, ending a nationwide search -- and Muench's 19-year streak at the Chicago-based giant

September 21, 2018 at 11:27 PM

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo