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Briefs: Focus Financial gets second happy Hollywood ending in LA lawsuit • Orion closes deal in record 14 days • iCapital buys ID shop • VC milestones & raises • People moves at Apex, Dynasty & Wealthfront

A Hollywood RIA took on Focus and Goldman, and lost • Reed Colley is already in the house • The SEC dings Robinhood, Schwab and Vanguard Group, and FINRA dings Fidelity • Vanguard & Schwab launch ETFs • BlackRock plots mixing alts & annuities in a TDF • Dynasty adds golf exec in HR hire • iCapital buys 'AI' KYC shop • Larry Shumbres start-up off to the races • Wealthfront's media guru departs.

Author Oisin Breen January 24, 2025 at 2:40 AM
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Margaret A. Chan: KSFB's claim is premised on the fact that defendants 'profited handsomely ... [but] the CD&R transaction is not, alone, a basis to conclude ... they were unjustly enriched.
Brooke Southall and Keith Girard contributed to the editing of this article.

Walt Bettinger

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Reed Colley



Related Moves

January 11, 2025 at 3:01 AM

Betterment whistleblowers net $2.5 million • Wealthfront's big pivot leads to profits • Altruist launches tax service • CMOs in at Ascensus, Wealthspire & Joe Duran's Rise • Savvy bags four advisors as Mariner sues it for poaching • Jim Dickson launches RIA stake buyer

Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.

June 29, 2024 at 3:00 AM

Altruist is CTO-less, for now, quasi-intentionally, it says • Ex-rival exec hired to jumpstart cross-selling Orion products to enterprise clients • BlackRock tops Grayscale • Facet outsources estate plans • Advyzon profits off Goldman exodus • Dan Wiener's RIA has new CEO • CFP count tops 100k

Shiralker out at Altruist • Orion gives Trevor Noble his cause • Bitcoin has a new fund king • Software maker benefits from Goldman custody exec. churn • Carson Group denies lawsuit • Merge of Wiener's old shop complete • 100,000th CFP named.

June 7, 2024 at 1:44 AM

Walter Bettinger joins Charles Schwab Corp. mass executive exodus, leaving a very complex CEO puzzle to solve for his young, ex-McKinsey successor

CEO grew the company by $8 trillion in assets to 'powerhouse' status amid significant accomplishments -- sans RIA mention -- but shares are sagging, and its bank remains a sore subject.

October 3, 2024 at 10:12 PM

See more related moves

Mentioned in this article:

Envestnet Inc
TAMP
Top Executive: Jud Bergman

Morningstar, Inc.
TAMP
Top Executive: Joe Mansueto

Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf

Wealthfront
Portfolio Management System
Top Executive: Andy Rachleff

Evestment
Manager Research
Top Executive: Jim Minnick, CEO

Totum Risk
Tech: Other
Top Executive: Larry Shumbres, CEO



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