Articles published 10/2015
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Publish date
LPL CEO floats orphaning 3% of its brokerage business in prelude to DOL 'travesty'
Mark Casady says he may lop off brokerage accounts of $15,000, citing looming rule changes
October 30, 2015 at 6:28 PM
Morningstar report suggests jiu-jitsu tactic for buying annuities: Game them right back by waiting
Seniors who pick their moment can save as much as 50% with patience as the key strategy
October 29, 2015 at 6:29 PM
After stealthily buying up LPL stock, a 'wolf pack' of activist hedge funds has a leg hold
San Francisco-based SPO, FPR and Marcato are forbidden to coordinate their efforts per SEC rules but seem to be looking in the same direction
October 28, 2015 at 5:43 PM
Schwab's robo spikes suddenly to nearer $5 billion as 500 RIAs sign on
San Francisco giant also claims the assets, despite being managed for 'free,' produce better revenues than the self-directed accounts they are cannibalized from
October 27, 2015 at 8:13 PM
NAPFA is small, pure and aching for an elevator pitch -- but the perfect place for NYC-based MaxMyInterest to debut
Amid the din of an otherwise predictable Midwestern JW Marriott event, a different kind of robo got swarmed by the advisors wearing halos
October 27, 2015 at 5:17 PM
Abigail Johnson takes Pyramis back to its Fidelity roots after her father tried to create exalted brand
Unknown and unloved, the 'just-a-no-load' unit that failed to capture 401(k) rollovers is reimagined to appeal more 'sophisticated' clients
October 26, 2015 at 5:26 PM
Lehman Bros.' binding ties and culture spur another $1B team -- that stayed at their posts as Lehman burned -- to flee Stifel-owned Barclays for RIA
Newly created Summit Trail, with a Shirl factor, allows the Lehman swagger, kinder and gentler, to reassert itself in 2015 after seven years of smoldering
October 23, 2015 at 7:10 PM
Mike Durbin goes deep at eMoney Summit on why Fidelity got into RIA software -- a 'culture' point driven home by mind-bending MoneyGuidePro news
eMoney's interim boss, long the king of Fido RIA custody, speaks of eMoney as a de facto genetic implant of blue ocean culture
October 22, 2015 at 6:10 PM
Mike Durbin gets right to work as eMoney CEO with MoneyGuidePro coopetition deal -- even though he's 'interim'
The collaboration of the two sworn competitors and a Fidelity guy in between validates that so-called 'dashboard' technology a killer category with new entrants on the way
October 22, 2015 at 12:37 AM
Credit Suisse punts its private banking business to Wells Fargo
The take-my-brokers-please deal has skeptics but shows forethought, too
October 21, 2015 at 12:06 AM
What cheap lessons Donald Trump and Bernie Sanders are teaching RIAs about the dangers of trying to institutionalize their practices
As the financial advice business goes robo, goes 'branded' and goes virtual -- with backing of 'smart' money and 'professional' managers -- the risk of backlash is real
October 20, 2015 at 10:01 PM
AssetMark finds greatest treasure of Curian shipwreck to be its survivors, even as it salvages $2 billion from the ocean floor
The Concord, Calif.-based outsourcer fills five sales positions from its fallen competitor with ease and sets them a task to throw life rings to even more adrift advisors
October 19, 2015 at 3:43 PM
Dimensional Fund Advisors to launch 13 target date funds but can its RIA 'cult' deliver success?
The Austin, Texas-based fund giant sees a 401(k) opening the size of its home state if Vanguard, T.Rowe and Fido are any indication
October 16, 2015 at 4:33 PM
Capitalizing on 'unintended consequences' of DOL changes, Ken Fisher pounces on a fat-margin 401(k) opportunity
DOL greased the skids for closed-architecture approach of $60-billion RIA -- as long as it is discloses use of proprietary funds and sets flat fees that apply to them
October 15, 2015 at 5:28 PM
Citing Edward Jones as a cautionary tale, Cerulli alerts 'eRIAs' -- i.e. robos -- that they need to be world-beaters just to survive
The Boston-based researcher suggests by 2016 the standalone B2C model will demand net asset gathering $150 million per month -- a figure that will soon balloon to $180 million per month
October 14, 2015 at 4:42 PM
Why the PE that helped take LPL public now controls Edelman Financial and plans to invest more heavily
Hellman & Friedman has assumed lead-player status from Lee Equity Partners, the latest move in key-man Ric Edelman's uphill quest to make himself obsolete
October 12, 2015 at 11:26 PM
Morningstar buys standalone rebalancer to fulfill its all-in-one vision by getting Sheryl Rowling to cash out and go back to RIA
This way M'star gets to intellectually fuel trades but execute lift-off without an awkward hand-off out of its own software zone
October 12, 2015 at 5:09 PM
Greg Friedman channels his inner Marc Benioff and Junxure shows off its sky-high future before a crowd of $1B RIAs and RIA digerati in Vegas
Robos had their hush moment over a lost $5 million account and advisors buzzed over the Total Rebalance Expert-Morningstar deal but Friedman kept CRM at the center
October 12, 2015 at 4:34 PM
What scores Bill Gross's $200-million lawsuit seeks to settle and why the key allegation may have merit
Despite the wild, emotive weaving of a Grossian newsletter, the Bond King's claim that he was bilked out of a mega-bonus has a crisp logic, a top lawyer says
October 9, 2015 at 3:36 AM
As Schwab edges closer to letting RIAs in as 401(k) middlemen, leaked details suggest to some that the firm still marginalizes the advisor
Though RIAs technically gain a seat at the Schwab index 401(k) table, they still don't have much say about how assets get invested
October 8, 2015 at 11:21 PM
Weighed down by nonstop fines, LPL finally buys ounce of prevention by putting ex-FINRA veterans on its payroll
Mark Casady also seats a former assistant attorney general on his board
October 6, 2015 at 9:19 PM
Why a $3 billion UHNW team in Newport Beach bolted Merrill Lynch and what breakaway bugs are reading into it
The alternating carrot/whip spurs for wirehouse mega-teams has the breakaway buggy bolting along
October 6, 2015 at 5:30 PM
The 'other' Morningstar conference shaped up as a true ETF summit with principals of exchange traded fund programs on the prowl
The growing ETF universe is getting specialized as it braces for its post-disruption future as the establishment product
October 5, 2015 at 12:45 AM
Stealing the FPA show, 'rock star' Marcia Wagner sounds four-alarm fire drill on DOL's onrushing fiduciary rule -- especially one arising from a stumper of a rollover provision
Is there more than one way to be a fiduciary? Yup. Think the rule doesn't apply to your non-401(k) practice and won't affect your fees? Think again, warned the lawyer at the FPA conference in Boston
