People Moves
One ex-Goldman Sachs co-founder in his 30s nabbed an ex-Goldman exec in her 50s and promise to arm her with many flexible lures, like remote work and maybe 1099 jobs -- and shares in the startup early on.
Friday, September 16, 2022 – 8:26 PM by Lisa Shidler
Brooke's Note: I keep scratching my head about Farther. We have seen all manner of VC-backed startups that are RIA related from robo-advisors to rollups and TAMPs. Then as they sputter, they retrofit themselves to be more like a classic RIA, whether you're talking Wealthfront, Hightower ...
Broker Jim Iannazzo went all out with high-powered attorneys and slick Las Vegas crisis pr team to limit the damage from his actions, but whether he can ever live down the incident remains to be seen.
Thursday, September 1, 2022 – 5:11 AM by Keith Girard
James Iannazzo, the Fairfield, Conn., stockbroker whose violent tirade in a smoothie shop went viral worldwide, is out of the legal dog house, but he may never shake the tin cans tied to his tail over the incident.
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
Saturday, August 13, 2022 – 12:39 AM by Brooke Southall
The party is over for RIAs fetching P/E ratios more akin to public companies from overeager buyers, and Focus Financial is back in the game, says CEO Rudy Adolf.
The Auburn, Calif., risk software maker is undergoing a shift to enterprises and nabs Josh Gray from the Dallas firm.
Wednesday, August 10, 2022 – 2:25 AM by Brooke Southall
Riskalyze has a chief technology officer, again, after a fund raise, a key conversation, a resignation, a search and a poach from a rival fintech.
Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'
Tuesday, August 9, 2022 – 1:57 AM by Oisin Breen
Brooke's Note: DFA was founded in 1981 with an RIA-aligned philosophy of slow-and-steady-wins-the-race, long on thoughtful process and short on glitz. It's going strong in 2022, but if growth is a measure of health, then it's caught a cold or showing early signs of something ...
The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.
Saturday, July 30, 2022 – 12:41 AM by Lisa Shidler
Following a Ned Johnson script that worked to near perfection at Fidelity, Charles "Chuck" Schwab made a penultimate retreat from control after placing a whopping capital bet on his protege's future.
Boston 'big three' custodian's no-compete agreement will force her to leave behind clients, but it's a small price to pay for a new opportunity and equity in a top RIA.
Friday, July 29, 2022 – 2:28 AM by Lisa Shidler
"All's fair in love and advisor headhunting, so long as you leave your book of business behind" could be a refrain from a country music tune.
Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.
Wednesday, July 27, 2022 – 2:27 AM by Brooke Southall
Brooke's Note: The peril of talking about ESG is that it means everything and, therefore, means nothing at all. Yet, a subtle but important distinction is noted in this article. This 'ESG' hire is not being hired to sell you something ESG -- at least ...
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
Saturday, July 16, 2022 – 1:35 AM by Lisa Shidler
Brooke's Note: High risk, high return isn't just a financial equation. It can also apply to intangibles like who you put in charge. UBS is risking what it has -- a highly profitable, predictable firm for the immediate future -- to become a high-efficiency financial advisory factory ...
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.
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 ...
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.
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 ...
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.
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.