RIABiz

Rick Wurster puts Fidelity's $5-trillion-plus of 'workplace' assets in play with a new 'total asset capture' strategy that promises a recordkeeping revamp and service edg…

The Schwab CEO has thrown down the gauntlet at his peril, analysts say -- noting that his vision involves using typically ...
RIABiz

Charles Schwab Corp. to pay up to $200 million in federal regulatory charges, following SEC robo-advice probe; may be tied to discrepancies between how it collected revenues ...

Charles Schwab Corp. has disclosed it may have to pay $200 million in federal regulatory charges over its robo-advisor that some industry observers link to the way it collected fees from its clients ...
RIABiz

Suddenly Vanguard, BlackRock, State Street not only have the assets but the power of ESG mandates, which make them a growing threat to shareholder democracy, critics say

Oisín Breen Dublin-native and Edinburgh-based Oisín Breen has spent seven years writing about finance, including five whirlwind years diving into the advisor world for RIABiz. A widely published and ...
RIABiz

A last lion of the Ned Johnson era, Gerry McGraw, vacates the Fidelity CFO spot for Maggie Serravalli, and makes evident Abby Johnson's 'phenomenal' women strategy

But now McGraw is making way for a 58 year-old executive who has worked her way up the organization on the third-party intermediary side, most recently as the head of Fidelity 's healthcare group. See ...
RIABiz

Morgan Stanley's Eaton Vance deal yields a golden nugget-- Parametric--and a means to own the direct-indexing super trend -- at a bargain $7 billion

Morgan Stanley gains Parametric, a leader in the growing direct indexing (DI) market, via the Eaton Vance acquisition. Direct indexing's democratization, fueled by fractional shares and zero trading ...
RIABiz

Ray Dalio finally deigns to let RIAs allocate AUM to Bridgewater funds but with a coy approach; he'll use iCapital's software to sell through a virtual mystique boutique

Oisín Breen Dublin-native and Edinburgh-based Oisín Breen has spent seven years writing about finance, including five whirlwind years diving into the advisor world for RIABiz. A widely published and ...
RIABiz

Schwab's merger with TD Ameritrade was sterling until the Covid-19 pandemic and financial collapse took some of the shine off the deal

Schwab's TD Ameritrade merger faces headwinds from COVID-19 and market volatility. Synergies expected from the deal may be offset by revenue declines and unforeseen expenses. Schwab's free trading ...
RIABiz

Marty Bicknell-led Shark Tank-style contest chooses to back super-ambitious RIA-automation startup, but his $25-billion RIA'll keep Orion for now

It asserts that it can automate a big RIA's entire investment management portfolio, its onboarding, rebalancing, and risk management, yet still allow advisors the option of choosing between putting ...
RIABiz

Vanguard Group to open CFP-poaching battle front in Schwab-Fido-Pershing backyard, after its human RIA grows AUM 72% to $231 billion

Vanguard expands its human-plus-robo RIA, VPAS, targeting Dallas for CFP talent. VPAS's AUM surged 72% to $231 billion, fueled by demand for human advisors. Vanguard's 30-basis-point fee disrupts ...
RIABiz

InvestCloud -- long tagged an 'Envestnet killer' -- sold at $1-billion valuation level, gets added to Tegra118, but some say, not so fast

InvestCloud acquired for $1 billion, integrated into Tegra118 platform. Motive Partners leads investment, aiming to unify InvestCloud, Tegra118, and Finantix. Combination addresses InvestCloud's ...
RIABiz

After being 'blown away' by AdvisorPeak's engineering prowess, Addepar is buying the company to arm its clients with automated rebalancing software

Brooke Southall Brooke lives on a houseboat, works in an office and juggles calls across the five time zones and four countries his small team works. He's out to prove an economic major can make a ...
RIABiz

Steve Lockshin's self-funded Vanilla gets Rockefeller VC funding after it shows it can tidy up an RIA client and put her or him in a Zoom room with an estate lawyer

Vanilla secured $11M in funding led by Venrock to expand its estate planning platform. Lockshin targets large firms like Merrill Lynch to adopt Vanilla's services. Vanilla automates estate document ...