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The New York consultancy took nearly five years to unload the wealth and asset manager; McKinsey now admits it was not a 'natural' owner.
The New York super-consultancy retained Ardea Partners, a 2017 Goldman Sachs breakaway, to suss out its options for the in-house wealth manager and hedge fund company.
CEO Jeff Yabuki says the company had to 'take a little step back' but can now use its APL machinery to go back on the attack for an awesome objective -- to become the central clearinghouse of alternative investments to wealth managers via model portfolios
The New York City consulting giant quietly made the Orion founder and ex-CEO a McKinsey senior advisor two months after he stepped down last year.
The $10-billion revenue colossus pooh-poos $7 trillion of 'mom-and-pop' RIA assets after they take in 22% of all investable assets last year, from 16% base, according to McKinsey's own numbers.
The New York card company will charge 50 basis points for Vanguard advice then share half that revenue with Vanguard.
Federal regulators allowed McKinsey to settle without admitting insider trading violations for its in-house RIA but censured the firm and ordered it to 'cease and desist' from future violations.
The New York-based consultant sees bigger, more digital companies (Wall Street 2.0 in other words) dominating -- a de facto logical black hole that desk-bound consultants gravitate to.
The New York-based robo-advisor will use CFPs to answer advice-related questions over a dedicated chat app as part of the 25 basis points paid for asset management
Using ChinaTrust’s 'Air Financial Advisor' and Itau’s 'Personalite' service, Schwab -- even E*TRADE -- as examples, the global consultant says the future will splinter 'digital' and 'automated'
The large outsourcer has installed the high-profile consultant on its board of directors
Industry stars like Inveen, Roame, McGinness and Welsh are increasing revenues by shifting gears
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