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Kitces, the self-professed 'strongest advocate' for Schwab custody, now thinks Schwab is doubling down on a business model with 'striking parallels' to his own, heedless of his loyalty.
With Reed Colley as president, the Omaha software firm serving 2,500 big RIAs is making a play for up to 2,100 smaller XYPN RIAs.
The XYPN co-founders got to 2,000 advisors with easy-RIA startup and this second OSJ-like model is more like a safety valve for the 10% who want to avoid hassles of full independence.
RIAs prefer if CEO Sarah Levy goes fuller service even if it means introducing a few analog necessities anti-thetical to startup dreams
Kelsey Lewis takes charge in Bozeman as president with CEO-like day-to-day duties that include replacing herself as customer success officer.
Alan Moore and Michael Kitces put their money where their mouths were and plan to expand their not-a-CFP XYPN Academy training to stamp out 'Imposter Syndrome.'
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
Launching first with a small group of six advisors -- likely ten by year-end 2024 -- Michael Kitces and Alan Moore intend to turn XYPN Sapphire into a growth engine.
The Virginia RIA guru's decade-old solo-RIA shop has 1,800 members and helps file 1,000 ADVs annually, but now he and partner Alan Moore may pair their unique brand with a more vanilla, steamlined one -- ADV platform -- perhaps the best of two worlds?
Schwab Advisor Services was able to 'herd the cats,' who chose TD Ameritrade, often to avoid Schwab; it's used judicious planning, patience, tech savvy but also good communications and an inimitable Tom Bradley-brand of RIA politics.
Schwab Advisor Services still faces the stiff challenge of cultural assimilation but would-be detractors (like trade publications and even competitors) see little possibility it'll bungle Labor Day's switchover and its worst-case scenario on RIA attrition of 5% seems like a 'major win'
The 4,600-member association in Franklin Park, Ill. will enlarge its addressable market but some existing members say they may drop out becuase the pure fiduciary standard was the lure.
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.
AdvicePay replaces paper checks and 60-day waits with ACH and credit card transactions for financial plans -- a concept validated by hundreds of their own XYPN advisors signing up
At his XYPN Conference, he reveals penchant for thinking big, failing almost never and reaching for the sky under Montana's Big Sky
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