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Schwab RIA custody exec Elyn Davis lands at Raymond James where she'll lead 'client experience' as hybrid-RIA battle heats up among major IBDs.
Adam Antonaides, 59, is exiting the CEO role as the No. 2 IBD shifts into higher gear to compete with LPL and take on a more RIA future
The El Segundo, Calif., broker-dealer has grown tepidly since 2018 when Genstar stepped in; it added 1,000 brokers but only 700 staff, falling farther behind LPL Financial.
Poached from Fidelity to serve as Cetera CEO -- to seek inorganic growth with Genstar cash -- Durbin is buying the old H.D. Vest-Blucora tax-preparer IBD for $1.2 billion, after it went for about $600 million in 2015 and got overhauls
With FINRA writing on wall, aging reps and a zero commissions trend, the Los Angeles IBD just joined Advisor Group and LPL, shifting its affiliation axis toward "corporate RIA," as economics look better than old IBD hub.
The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
The suddenness of the move caught O'Brien off-guard, but Mike Durbin has consistently said his goal is to infuse investment management with wealth management and eMoney, which O'Brien calls home, sits at that intersection.
The $4.2 trillion Boston unit for 13,500 third party wealth managers got Rohit Mahna who was the financial CRM guy at the San Francisco giant
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
His $2.6-trillion unit's 2017 asset growth includes big adds from AssetMark, Sepio, Carson Group and Principal Securities
The co-founder's AI Labs is a portal-of-portals software that means to create -- and just may -- a virtual mono-custodian, mono-software platform
The RIABiz micro-stories are diverse. A robo startup star migrates to legacy-land, Sallie Krawcheck hires a CMO, an ex-NBA player bounces out of Goldman and an advisor moves back to Cleveland to put the '& son' in his father's RIA
RIAs run out of superlatives for the eight-year exec's ability to 'get it' at both the intrapreneurial and entrepreneurial level as he ascends to president of $2.3-trillion Fidelity Institutional
The kids pioneered the mindset but now the Oroses of the world grab quality-of-work, make-a-difference opportunities that their experience allows them to command
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