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People Moves Related to "How Vanguard Group's robo-countering effort got to $1.3 billion of AUM so easily and why its future seems bright"


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Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO

The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.

December 8, 2020 at 5:27 PM

Karin Risi, who built $170-billion Vanguard Personal Advisor Services, takes new role and Matt Benchener is taking her spot as head of US retail for the $6.3 trillion manager

Risi now heads planning and still directly reports to CEO Tim Buckley and her 34 year-old understudy, Benchener gets her job at year's end.

December 4, 2020 at 2:56 AM

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

Shiralker 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.

June 7, 2024 at 1:44 AM

AdvicePay finds its 'rockstar' leader after 14-month process where external candidate fizzled; now in-house candidate is ready to sizzle

Kelsey Lewis takes charge in Bozeman as president with CEO-like day-to-day duties that include replacing herself as customer success officer.

May 16, 2024 at 1:56 AM

Salim Ramji, who BlackRock may have shunned for Larry Fink's job in January, is named Vanguard CEO -- now he has to reassure investors he believes in the Vanguard way, even as an ex-Wall Street wolf

The Malvern, Pa., firm is hiring an executive with impeccable credentials and proven ambition as lawyer, McKinsey partner and power executive on Wall Street

May 15, 2024 at 12:48 AM

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

The 46-year-old CEO of Buckingham Wealth's 'long game' approach keeps paying dividends; it comes down to his approach to relationships

May 7, 2024 at 5:04 AM

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

The 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

May 2, 2024 at 1:27 AM

Alan Moore can't catch a break; AdvicePay CEO exits after seven months, adding job he hoped to escape back on top of XYPN role; search on for new AdvicePay president

The job will be step below CEO, and new hire must have affinity for both touchy-feely culture and aggressive growth in Montana's wide open expanses

March 9, 2024 at 2:58 AM

July 11, 2023 at 2:46 AM

Alan Moore is the No. 2 busiest man in the RIA business and he just convinced the No. 1 busiest man to budget $200,000 to hire a 'rockstar' to replace him

Alan Moore is CEO of both XY Planning Network and AdvicePay -- and he has three young kids; Michael Kitces agreed to let him hire a full-time replacement CEO for AdvicePay -- with some giant reqirements for the new exec.

February 14, 2023 at 3:15 AM

Five RIA Doubletakes: An RIA-only law firm breaks away • Kitces launches picker of 'best of breed' RIA software bundles • Vanguard targets 2070 just as media targets TDFs • SEC fishing for RegBI Scofflaws, including RIAs • CFP appoints first African-American chair

RIA Lawyers will reject RIA custodians• Kitces Nascar montage is now interactive and helpful • Vanguard's super long TDF draws critics• SEC supply lines are stretched with new battle front • Kamila Elliot is ex-DFA, diverse and calling CFP shots

January 12, 2022 at 3:13 AM

Wealthfront cedes to four years of investors clamoring for crypto by taking on expensive third-party vendor that Betterment rules out

The Redwood City, Calif., robo-advisor turned a hard 'no' into a soft 'yes' by dealing with Grayscale and its 200 basis-point-plus fees, which its robo rival in NYC -- also without a crypto path -- finds ludicrous.

August 14, 2021 at 2:20 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

Second Betterment exec departs as new CEO Sarah Levy orients to her first month on the job and is confronted by personnel matters

Chief operating officer Dustin Lucien is the latest to leave the New York City robo-advisor, one of at least eight positions open as it prepares a push across multiple business lines to ignite growth.

January 19, 2021 at 6:32 PM

Wealthfront's unlikely tapping of Sheila Bair and Tom Curry signals likely push to gain a bank charter, analysts say

The Redwood City robo-advisor's addition of two renowned former chief banking regulators brings legitimacy and guidance that could lead to a margin-fattening bank charter and help solve the robo-advisor's problem of high client acquisition costs.

December 31, 2020 at 4:37 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

March 12, 2020 at 1:45 PM

With IPO clock at 10-years and ticking, Personal Capital makes two big, out-of-character moves to go upmarket and downmarket

With $9 billion in assets, the Redwood City-based national RIA hired the ex-Virgin America CMO Porter Gale to make one brand investors associates with both the freebie tools and the full-priced financial advice its advisors provide mostly from call centers

March 22, 2019 at 7:55 PM

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