News, Vision & Voice for the Advisory Community


People Moves

Aparna Chennapragada: [Robinhood round-up] incentivizes folks to do the good thing [investing] more.

Semi-commoditized by giants and upstarts alike, the Menlo Park, Calif. firm is extending trading hours and doing its own Acorns-style round-up debit card to show it's in the fight.

Tuesday, March 29, 2022 – 7:19 PM by Oisin Breen

Weeks after Acorns raised $300 million to move closer to Robinhood's business model, Robinhood is returning the compliment by adding a signature Acorns feature to its debit card--spare change investing.


Maeve DuVally: We are working closely with teams across Goldman Sachs, as well as clients, to ensure that these new services align.

The clock is ticking on the New York City investment bank's strategic imperative to strike while TD Ameritrade and Schwab merge, but Goldman may be facing similar obstacles combining with Folio Institutional.

Wednesday, March 16, 2022 – 2:47 AM by Oisin Breen

Brooke's Note: Since I started covering RIA custody 22 years ago, I have heard a steady refrain about how lightweight discount brokers like Fidelity, Schwab and TD Ameritrade would get picked off like Russian tanks, if the big Wall Street forces ever decided to aim ...


Tru Independence wants to rise above its low-profile, Portland, Ore., home.

The Philly exec is now president of tru Independence after stints at SEI, Brinker, Hightower, BNY Mellon and, most recently, Sanctuary.

Wednesday, March 9, 2022 – 2:37 AM by Oisin Breen

Amit Dogra is back in the game in Portland, Ore., as president, board member and minority stakeholder in tru Independence (Tru, for short) just as an old rival makes a big move.


Joe Lonsdale: We have a bunch of creative ideas based on lessons learned.

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.

Wednesday, February 23, 2022 – 12:09 AM by Oisin Breen

Brooke's Note: Addepar was the upstart seemingly only yesterday, forging its own path to $3-trillion-plus of AUA, in part, from RIAs -- with very much of an alternative investments bent. 'Yesterday,' however, was 2009. It may explain why Joe Lonsdale, founder and chairman of Addepar, is starting with ...


Sean Lindenbaum 'got it done' at TD Ameritrade, a former colleague says

The St. Peterburg, Fla., technology outsourcer made its 10th Florida hire since start of year but first one on the state's Southeastern Coast

Thursday, February 17, 2022 – 2:50 AM by Brooke Southall

Dynasty Financial Partners announced today (Feb. 16) that it has nabbed an 18-year veteran RIA sales executive who left TD Ameritrade (TDA) following the Charles Schwab Corp. merger in 2019.


Noreen Beaman: Now is the right time for me to transition.

The former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.

Thursday, February 10, 2022 – 2:22 AM by Lisa Shidler

Noreen Beaman is stepping down as president of Orion Advisor Solutions as the company continues to reduce positions on the org chart.


Daniel Needham: 'We're very committed.'

The Chicago firm mandated Daniel Needham with money, mission and people for branded, one-stop back office for fiduciary RIAs

Thursday, February 3, 2022 – 8:13 PM by Oisin Breen

Brooke's Note: Morningstar has long had one of the more trusted, better known brands in the RIA business yet never really had much of a category-killer RIA product. But nobody else really has either. The idea of an 'RIA TAMP,' or outsourcer, is a fairly recent ...


Kruti Bolick bring four years of experience managing risk at Wells Fargo to one of the larger RIAs in the United States.

Homrich Berg just hired Kruti Bolick after it added $6 billion of AUM since 2015, stretched supply lines to Florida and went into 'evolution mode.'

Saturday, January 29, 2022 – 2:53 AM by Katie Cerulle

Brooke's Note: This article was reported by Trinity College senior, rower and budding journalist, Katie Cerulle, and her name will occupy the byline when we get our byline software sorted.


Max Schatzow: 'Many consulting firms have partnerships with the big custodians.'

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

Wednesday, January 12, 2022 – 3:13 AM by Oisin Breen

Max Schatzow, walked from his partnership at Stark & Stark of Princeton, N.J. to co-found a breakaway law firm that is RIA only and where a chief conflicted party need not apply for representation.


Kirsten Kuykendoll: We expect that Fidelity will continue to hire thousands of people throughout 2022.

The $11-trillion-plus giant will also likely achieve its overarching task to net 7,000 employees but growth means the hiring machine needs to keep churning.

Tuesday, January 11, 2022 – 2:04 AM by Lisa Shidler

Brooke's Note: If Fidelity can hire 9,000 bright people in four or five months in a financial services market where supposedly nobody is available, then it tells you something. People talk about the Great Resignation. They should call it the Great Renegotiation. People want to work. They ...


Brad Shepard: The strength of the Orion platform comes from all the ways its brands link together to create an end-to-end experience for advisors.

The Nashville, Tenn. executive came aboard to create a 'go-to-marketing strategy' for Brinker, HiddenLevers and legacy units but gave his notice this week.

Friday, January 7, 2022 – 11:40 PM by Brooke Southall

Orion Advisor Solutions hired a three-person 'New Horizons' team in April to bring its expanded roster of disparate units to market in a unified way. Now that trio is down to two after Brad Shepard submitted his resignation earlier this week.


Steve Quirk oozes with potential to climb higher Robinhood rungs that transcend "trading," say multiple sources

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

Thursday, January 6, 2022 – 10:33 PM by Brooke Southall

Brooke's Note: I can't recall the last time I heard so much effusive praise from sources about a talent as I'm hearing about Steve Quirk in piecing together the story of his hire. The Green Bay Packers fan is the whole package apparently having helped groomed thinkorswim ...


Derek Bruton: I am poised to bring the passion I have for scaling businesses to Gladstone clients.

The Plymouth Meeting, Pa., deal shop has fintech and asset managers reaching out for RIA advice, in addition to scores of RIAs trying to decide whether to pull the trigger.

Thursday, January 6, 2022 – 6:21 PM by Brooke Southall

Brooke's Note: As a former business broker and current RIA writer observing the white-hot RIA M&A market my overarching question is this: Were RIAs, RIA buyers and RIA financiers asleep at the switch for decades as few big deals ever seemed to happen? Or is ...


TDA is out at the college baseball world series stadium; Schwab's is in until at least 2029.

The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.

Monday, December 27, 2021 – 9:58 PM by Oisin Breen

The corporate takeover is only complete when the stadium in the vanquished firm's hometown bears the name of the company swallowing it whole -- or something like that.


Rick Wurster has broad authority over Schwab retail, RIA custody, 401(k), international and asset management.

The Schwab CEO gets 2016 'Windhaven' hire to share burden of governance from enormity of $8-trillion post-TDA, post-USAA, post-Motif growth.

Monday, December 20, 2021 – 11:59 PM by Brooke Southall

The Charles Schwab Corp. has quietly named a new president that involves subtracting a title from Walter Bettinger, giving Bernie Clark a new boss and adding executive bandwidth to a company supersized by USAA and TD Ameritrade acquisitions.