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As Pershing struggles to get a robo firmly fixed in the RIA frame, NextCapital rushes in to blur the picture

The Chicago 401(k) robo will use Pershing custody to go after the retail market and Pershing has hopes it'll work with its mega-RIAs

Author Lisa Shidler February 23, 2016 at 9:25 PM
3 Comments
no description available
Margaret Hartigan: We are now in the next phase which is identifying and onboarding our first customers.

401(k) Stories

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Robo-Advisors


anonymous

anonymous

February 24, 2016 — 5:28 PM

$5, $10 and $20 Billion dollar firms. Shooting for the stars huh? Hope you have a big gun!! #destinedtofail

Bill Winterberg

Bill Winterberg

February 25, 2016 — 8:31 PM

According to this chart, there are 35 firms in the U.S. that have over $5 billion.

http://data.investmentnews.com/ria/

Brooke Southall

Brooke Southall

February 26, 2016 — 10:40 PM

Bill,

Your point is well taken about the size of the NextCapital fishing pond.

Brooke


Related Moves

January 19, 2023 at 3:31 AM

With fears rising that robo-advisors can disrupt $2-trillion target date fund universe, NextCapital raises fresh $30 million and wins five big customers, but can its software spur widespread TDF adoption?

TDFs are cash cows and asset magnets but also dumb robots in an era of smarter ones and the Chicago-based outsourcer is promising answers -- most recently to Franklin Templeton

September 22, 2020 at 8:59 PM

Behind the scenes, Ben Harrison's rise to replace Mark Tibergien at Pershing was more shock and awe than a symphonic succession

Harrison's appointment was baked in the cake -- or not -- and Tibergien departed with Swiss-watch precision in Moss Adams-style--or not.

March 13, 2020 at 7:22 AM

Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology

The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.

March 11, 2020 at 7:58 AM

See more related moves

Mentioned in this article:

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

Aite Group
Consulting Firm
Top Executive: Frank Rizza



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