RIABiz

Fisher Investments is facing a swarm of M&A-minded national RIAs, but it's obsessively self-contained after growing by nearly $300 billion since a 2019 PR mish…

The Plano, Texas RIA sat at $112 billion when its owner made headlines for unfortunate remarks, but the firm has grown ...
RIABiz

Morningstar's sale of ByAllAccounts to Pello won't close -- the latest mishap in the 'aggregation' category as Plaid seeks IPO and CFPB mulls plan to permanently allo…

The Chicago fund tracker reassures RIAs the account aggregation service levels won't drop off -- not least because in-house ...
RIABiz

Vanguard inks 'unthinkable' deal that makes rival T. Rowe Price a subadvisor on three funds after quants flame out, even though it'll raise fees for the human touch

Vanguard was fed up with subpar returns on active funds and T. Rowe is tired of outflows and the resulting increase in the ...
RIABiz

Vestmark strikes 'standalone-RIA' black gold as (TAMP) AUM leaps past $50-billion -- a five-fold increase -- after critical upgrade triggers T. Rowe Price, BlackRock, Capita…

The Wakefield, Mass., firm has already received $2 trillion of love as an institutional, private-label product, but ability ...
RIABiz

Acorns' new ploy – a kiddie advisory board – draws analyst scoffs and plaudits, as Trump accounts touch off rush to siphon rollovers from Trump-favored Robinhood …

Giants Fidelity, Schwab, Vanguard and Empower are enticing small investors with perks, programs, but Acorns says kids are the ...
RIABiz

Hightower loses newly hired president but it brims with 'Signature' talent -- Penny Phillips, Randy Bullard and Gurinder Ahluwahlia -- and it promises a 'near-future,' re…

Roberto Stewart is out at the Chicago rollup, which is multitasking a revamp and a sale through Goldman Sachs under pressure ...
RIABiz

An RIA is stripping out software from $1 billion-plus of acquisitions -- with a new $48.5 million raise and sky-high praise -- but critics say Arca Wealth mostly has a new ...

The New York City startup unveiled itself yesterday as an all-in, 'AI-native,' wunderkind that is in the process of 'removing' applications and shedding its old Schwab custody and robo-investing ties ...
RIABiz

Schwab drops bomb that four Schwab Wealth Advisory branches were in pilot, succeeded wildly, and now -- boom -- 30 SWA offices will be up and running by 2027 as 'core' offering ...

Schwab launches 30 new wealth advisory branches by 2027. Pilot program success drives Schwab's aggressive physical expansion. RIAs face direct competition from their custodian. Schwab's move signals a ...
RIABiz

Choreo may win up to $5 billion of SpaceX IPO wealth by bulk sale but likely made a devil's bargain -- a low fee for a high-maintenance clientele, analyst says

Ed O'Gorman: It now exists as a proven model – and once a model works in wealth management, it tends to spread. Choreo pulled off a headline-grabbing coup by winning as much as $5 billion overnight ...
RIABiz

Robinhood is launching plain-vanilla robo-advisor, an RIA that allocates with algorithms, but walks back intent to use AI and will rely on human teams to pick investments

Vlad Tenev is holding off on applying AI to robo-advising, for now. Robinhood is readying a classic robo-advisor on its app to re-monetize its 24.3 million investors with wealth management fees and a ...
RIABiz

Schwab elicits strong RIA reactions about planned 'wealth office' expansion into local communities with many advisors saying 'bring it on' -- but smaller RIAs could find out ...

Marty Bicknell: I'm not scared and neither are my advisors. Brooke's Note: I am surprised and not surprised that so many RIAs responded with defiance – rather than upset or betrayal – to Schwab's ...
RIABiz

Envestnet recalls buggy MoneyGuidePro upgrade after RIA backlash, and all advisors are -- for now -- back on the legacy version

Ann Garcia: Super frustrating to reach back out to clients. Brooke's Note: The financial industry is increasingly a software business and so the push to evolve on shorter cycles and reach for bigger ...