Articles published 10/2024
Headline
Publish date
iCapital hits $203 billion of 'platform assets,' but Schwab could boost prospect big-time in a marriage of convenience that would benefit both
The New York City alternatives hub grew asset total about 15% thus far in 2024, but if Schwab pulls lever on $4-billion revenue play at fat margins, life will be good.
October 15, 2024 at 3:36 AM
Plan sponsor eyes are lighting up as T. Rowe Price launches set-it-but-don't-forget-it target-date funds -- a 'major improvement,' Cerulli analyst says, over myopic retirement date focus
The Baltimore asset manager's new product tracks its index, but factors some investments in or out, based on wider portfolio holdings and risk
October 12, 2024 at 2:01 AM
RIAs keep Goldman Sachs' hopes alive its RIA custody unit will find legs as $55-billion New Edge signs on and Goldman fills vacated No. 2 custody spot
Predictions are aging badly that Goldman Sachs Advisor Solutions might get nixed as big-pipeline RIAs dial it in, and Jeremy Eisenstein comes off the executive bench to be Adam Siegler's right hand.
October 11, 2024 at 1:17 AM
Shirl Penney won J.P. Morgan and BlackRock backing the same day Hurricane Helene brought down his house and lifted his faith in friends, family and coworkers
The Dynasty Financial Partners CEO has evacuated from incoming Hurricane Milton but laments blows his staff and neighbors absorbed from Helene -- and fears the worst may yet come
October 10, 2024 at 3:20 AM
SEC actions expose underbelly of RIA industry awards, but they are often lucrative for those who hand them out and unlikely to stop being abused by those who get them
The Washington regulator nailed RIAs with misuse of award mentions, using the new Marketing Rule as cudgel after declaring false advertising a 2024 priority
October 9, 2024 at 3:07 AM
Rick Wurster's CEO tenure begins with a big RIA question: will he honor Bernie-tenure 'pledge' to keep custody free, or will he create a new, possibly better, pricing paradigm?
RIAs have had a limited back-channel to the c-suite since Bernie Clark's departure, and Wurster remains an unknown to the industry.
October 8, 2024 at 4:06 AM
Rick Wurster is 'ideally prepared,' for CEO role, says Charles R. 'Chuck' Schwab -- he practically runs the company, advances the business model and actually lives in Texas
The president and CEO-in-waiting has all but Walt Bettinger reporting to him, and spearheads huge initiatives in alts, banking, private banking and proprietary investments
October 5, 2024 at 3:01 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
Dan Arnold is gone as LPL CEO, but his leverage to negotiate a settlement is apparent as LPL tells SEC it is deferring exercise of 'automatic forfeiture' of some vested options
Analysts stunned, seeking further clarity from LPL on future leadership, are reassured by company that 'no further shoe will drop'
October 3, 2024 at 3:08 AM
Dan Arnold steps down as LPL CEO, under a cloud, effective immediately; Steinmeier steps in as interim CEO
Well-regarded, Steinmeier has been LPL's go to player, after he was promoted to chief growth officer in May
October 1, 2024 at 8:42 PM
After a time of tumult, InvestCloud is divulging a reimagined business model where alts are the main course -- but analyst is wary that it's really just another TAMP
CEO Jeff Yabuki says the company had to 'take a little step back' but can now use its APL machinery to go back on the attack for an awesome objective -- to become the central clearinghouse of alternative investments to wealth managers via model portfolios
