People Moves Related to "Power Player: Addepar's Eric Poirier drags RIAs to seek alpha in a beta world even as the advisors demand -- and get -- eMoney and FolioDynamix connections"
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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
Alan 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.
July 26, 2023 at 2:34 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
Orion rescinds RTO order after its staff rebels by hijacking company email list, distributing petition and tipping off RIA media
CEO Natalie Wolfsen suffers first setback and rescinds a return-to-office (RTO) policy after week of protest to work on a more collaborative agreement on a post-COVID new normal
November 23, 2023 at 12:20 AM
A week after he became chairman of Eric Clarke's board, Charles Goldman is heading the search to replace Clarke as Orion CEO-- at Eric's direction
Eric Clarke founded Orion in 1999 and built it to a $3.6 trillion AUA juggernaut, but he believes both he and the company are ready for a big change
May 22, 2023 at 5:13 PM
Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies
The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
May 18, 2023 at 1:46 AM
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
Tax-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.
March 25, 2023 at 1:32 AM
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
BlackRock 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..
January 13, 2023 at 3:01 AM
Addepar's chairman writes five-alarm warning about how US immigration red tape is putting foreign engineers through hell, creating a 'quiet crisis' for tech companies
Joe Lonsdale uses words like 'egregious' 'crapshoot' and 'rude' in Wall Street Journal article to explain how 'America and its economy are the butt of the joke.'
October 26, 2022 at 1:12 AM
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
Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'
August 9, 2022 at 1:57 AM
Joe Lonsdale is prepping Lonsdale Investment Technologies for launch 13 years after founding Addepar -- with the new business model too cannibalistic for comfort, some say
The Austin, Texas, serial entrepreneur is still executive chair of, and a big stakeholder in, Addepar but may need a fresh start to manifest his hyped vision of creating high bandwidth financial flow between retail investors and vast private markets.
February 23, 2022 at 12:09 AM
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
The $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.
August 10, 2021 at 11:46 PM
Surfing a $15-billion-a-week asset growth meteor, Addepar CEO Eric Poirier hires an owner as president to achieve 'escape velocity' and keep operations from flaming out
Addepar is fast nearing $3 trillion, it says, after a 50% RIA asset spike in 2020. Now an Addepar owner through Valor Equity Partners is stepping in to safeguard or supercharge his investment depending on the point of view.
April 9, 2021 at 11:03 PM
Addepar hires Advent genius then launches 'Advent Converter' to court the RIAs still on Axys and APX ; PortfolioCenter 'easy button' comes next
The tactic by the Mountain View, Calif. firm and Advent co-founder and code avatar Steve Strand comes a decade after Orion, Black Diamond and Tamarac began feasting on the legacy corpses, but Addepar insists meat remains on the bone.
March 3, 2020 at 5:05 PM
Jeff Mello is latest to join eMoney's talent exodus but CEO Ed O'Brien says it's healthy renewal at a firm that added several hundred people since Fidelity bought it
The ex-Goldman Sachs director of strategy and planning at eMoney joins a growing list of departures exacerbated, sources say, by Fidelity putting a wobbly performance reporting software project -- and staff -- on its plate
February 28, 2020 at 11:09 PM
Pete Giza and Damon Deru go for Holy Grail of portfolio rebalancing with software that shuffles stocks, bonds... and asset classes; Believe it?
The RedBlack and TradeWarrior executives see old systems as 'archaic' yet know that the Black Diamonds, Morningstars, Orions and Tamaracs see rebalancing as a loss leader
