News, Vision & Voice for the Advisory Community


Women of Wealth Management

The RIA business is many good things but integrated from a gender standpoint is not one of them. This is not so great. Women are the majority of humanity and they have an asset-building strategy that can't be beat. Women outlive their beer-and-steak mates and end up with big estates. But today's women have too another strategy -- pursuing wealth in the workplace. Yet when they go to find fellow women to talk all this through with, they don't readily find them.

Companies big and small have for decades fallen over themselves to say that they have women's initiatives but I can't think of one that has amounted to much. But there are stories-- dozens or hundreds -- of them about women exerting their influence on this business and we are starting to collect them. It's a starting place -- documenting the ground being covered by women in the form of engaging tales graphically depicted by the physiognomy of the fairer sex.

Urska Velikonja: We expect for these large asset managers to consider abortion in the same way they consider other social-policy issues.

Culture war envelops ESG. 'Big-three' face crisis on abortion rights • The population is 50.8% women, 13.4% Black, 18% Latinx, but 76.6% of financial planners are white men. • Schwab funds CFP effort to rebalance • S&P 1500 pension plans are running a $55 billion surplus • Vanguard nears BlackRock institutional asset sum • Daniel Crosby lures behavioral finance interest, via Diet Coke.

Saturday, June 11, 2022 – 1:05 AM by Oisin Breen

Vanguard Group, BlackRock, and State Street are being pressured to add abortion to ESG choices just as women appear to be on the verge of losing their right to choose. See: Suddenly Vanguard, BlackRock, State Street not only have the assets but the power of ...


Sallie Krawcheck: When it started rolling, it was a force of nature, a f***ing force of nature.

The Ellevest CEO has a 3-million member community and $1.4 billion in AUM after eight years, but has had to make do while 98% of VC funds go to male-run companies, she asserts.

Friday, April 15, 2022 – 2:44 AM by Oisin Breen

Sallie Krawcheck just pulled off a $53-million "Series B raise," which is actually her seventh known fund injection for Ellevest, a robo-advisor targeting women.


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.


Rebecca Deaton: It was pretty friendly.

Relative Value Partners Group promised to shop for talent in 2015 and it found its mark in Chicago RIA, Brownson, Rehmus & Foxworth, Inc.

Tuesday, January 4, 2022 – 2:38 AM by Brooke Southall

Relative Value Partners Group used cash, equity, software and old-school Princeton ties to bag a six-person team from a $6-billion RIA and take the newcomers from their own P&L statement to a larger RIA.


Vanguard is likely hoping that the millennial friendly software design know how that Tara Bunch (pictured) picked up over her 30 year career will rub off on the firm.

The talent who made AppleCare work before Airbnb joins the $8.4 trillion AUM giant hot on the heels of two fresh software glitches that sparked industry debate over Vanguard's technology.

Thursday, December 9, 2021 – 3:19 AM by Oisin Breen

Brooke's Note: The words that startup fintechs use to describe themselves were mostly stolen from Fred Rogers. Words like 'delight' and 'delightful' are thrown around like candy. The storybook verbiage is delivered with a dripping sincerity that reporters seeking quotes for articles from fintech titans are forced ...


Kaitlyn Caughlin: There is an opportunity for talented active managers to generate alpha in China’s large, but inefficient, equity market.

After ending its physical presence in China, the Malvern, Pa. manager of $8.4-trillion is going headlong into the market with a new, 73-basis-point China fund that will be integrated into $260-billion AUM Vanguard Personal Advisor Services

Tuesday, November 30, 2021 – 11:35 PM by Brooke Southall

Brooke's Note: It's hard to argue that investors with a decent time horizon -- maybe 10-plus years -- should not have a stake in China. It's an economic juggernaut that has grown like nothing ever seen and perhaps the Asian giant is just getting started. ...


Mary Beth Storjohann is one of Abacus two new co-CEOs.

Abacus Wealth Partners has quadrupled its assets under management in six years in tangible correlation to its progressive hiring strategy

Saturday, November 27, 2021 – 12:57 AM by Oisin Breen

Brooke's Note: As a jaded editor, I asked Oisin to query the co-CEO protagonists in this article about whether having two people in a position prototypically held by one person reflects some sort of hiring indecision or lack of full faith in one person. Beth Storjohann's and Neela ...


Laurie Schultz: I know what it takes.

The Auburn, Calif., firm's new chair already took one risk software firm to unicorn status and promises to 'do what it takes.'

Wednesday, November 24, 2021 – 11:12 PM by Oisin Breen

Brooke's Note: Private equity-backed startups in emerging software technologies need to play to win or be destined to lose. There are endless calculated gambles by the CEOs, but maybe it's especially interesting to watch a "risk" company lay down its wagers. CEO Aaron Klein keeps ...


Eliza De Pardo: There's a tendency when you love what you do, and you focus on it to have a bit of tunnel vision at times.

The New York City RIA consultant sugarcoats nothing and provides sweetly precise numbers, and stresses that money can't buy enthusiasm.

Tuesday, November 16, 2021 – 6:48 PM by Guest Columnist Michael Kitces

Brooke's Note: If you're an RIA who doesn't have time to attend Harvard Business School before undertaking to take your mom-and-pop, sub-$2 million in revenue firm to $10 million or more, read this Socratic article. It'll seem long, but I promise I spent a good part ...


Shannon Eusey: ''Beacon Pointe will have the opportunity to further invest in the business and continue to expand our footprint.'

CEO Shannon Eusey's team will still hold 'over 50%' of firm but takes chips off the table after KKR infusion in her 2002-founded firm -- which launched a rollup as an adjunct in 2011.

Tuesday, November 16, 2021 – 1:58 AM by Brooke Southall

KKR is back in the rollup game with a big stake in Beacon Pointe Advisors, after the Newport Beach, Calif., RIA grew from $10 billion to $20 billion in a year -- and then hired Goldman Sachs.


Christine Shaw: It's a very difficult emotional decision and it's 100% a lifestyle change.

Media consultant says the publication is 'a little chaotic,' but vows to shore up the masthead and keep the New York City brand intact.

Friday, November 12, 2021 – 5:25 AM by Lisa Shidler

Christine Shaw, hired by the UK firm that owns InvestmentNews to take the publication into the digital future... is history.


Michelle Seitz: The resulting one-stop access to extensive private and public markets capabilities is, I believe, unmatched in our industry today.”

Michelle Seitz opened the playbook to allow RIAs more autonomy, and the firm will use wholesalers based less on channel and more on geography.

Tuesday, October 19, 2021 – 2:29 AM by Lisa Shidler

With a $90 million kiss from Hamilton Lane and a Vestmark deal earlier this year, Russell Investments CEO Michelle Seitz is ready to win back the hearts, minds and assets of middle-market RIAs.


Lori Hardwick: I prefer to be on boards where I am passionate about the company's mission.

Eying projected 300% plan sponsor growth, Aaron Schumm has promoted one executive, added another and reshuffled Vestwell's board, putting Hardwick on top.

Thursday, October 14, 2021 – 8:58 PM by Oisin Breen

Vestwell CEO Aaron Schumm just abdicated his chairmanship to Lori Hardwick as part of a senior executive team shuffle, after experiencing overwhelming growth in the workplace 401(k) accounts it services.


Joanna Rotenberg: The best work I’ve done has been because of the people I’ve worked with.

With the $11.2 -trillion Boston giant hiring 9,000 by year end after opening 5 million new retail accounts in six months, Joanna Rotenberg will be asked to rationalize, unify, digitize and monetize low- or no-revenue millennial accounts.

Tuesday, September 21, 2021 – 2:38 AM by Oisin Breen

Brooke's Note: Talk about a big hire of Joanna Rotenberg. Step back: What all the big discount brokers are trying to do is to become great big RIAs, complete with fee-based revenues, negligible asset leakage and minimized human service requirements. Fidelity is no different. The code ...


Sara Devereux: When yields are low and you’re looking to enhance returns, it’s a good time to consider active management.

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.

Tuesday, August 10, 2021 – 11:46 PM by Oisin Breen

An ex-Goldman Sachs executive has taken over Vanguard Group's bond investing, and the company is already proclaiming its 'alpha dog' status in fixed income with the release of two lower-constraint funds.