Brooke Southall
Articles written by Brooke Southall
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Charles Schwab Corp. buys stake in Wealth.com and became latest of Big Three to chase the $90-trillion-dollar asset hand-off
Aging high-net-worth investors starting to seek answers about last, big transfer hold lion's share of Westlake, Texas, brokerage's $10 trillion in assets -- a place where Vanguard and Fidelity have made recent moves, too
April 17, 2025 at 3:21 AM
Vanguard and Blackstone disclose joint 'initiative' to bring alts to mass investors after private 'talks' leak months ahead of planned news release
The 'culture clash' collaboration of the kings of two different markets could be a good high-net-worth retail strategy for each -- but they have serious stuff to work out.
April 16, 2025 at 2:02 AM
Chuck Schwab stands at Trump's side (literally) and wins President's praise for supporting policies amid tariff fallout, while Schwab's chief investment strategist raises red flags
Schwab co-chair intersects with Trump on policy, business [and golf,] while the company's chief investment officer Liz Ann Sonders has little good to say about government policies right now
April 12, 2025 at 12:55 AM
Schwab finally launches alts to retail investors with $5 million, five years after initial iCapital deal, but just seven days before its CEO faces Wall Street
The Westlake, Texas brokerage expresses urgency because 66% of retail assets are now high-net-worth -- with more than a million millionaires.
April 11, 2025 at 1:33 AM
Never mind near 10% S&P 500 snapback, the Trump tariff war baked in 'enormous wealth destruction,' and it's hardly 'over,' asset managers say
Today is so much better than yesterday after stocks rallied on a tariff 'pause,' but it is still a very bad situation; the damage assessment is just starting.
April 10, 2025 at 2:34 AM
Cantor Fitzgerald IA CIO sends midday letter to RIAs with take that reassures on tariffs, and he assures reporter that any aligment with Howard Lutnick is coincidental
The note arrived in email boxes after the market collapsed 5% today and explains tariffs were needed and negative effects should be 'very' short in duration
April 4, 2025 at 12:57 AM
Commonwealth and LPL CEOs are determined to share bright future after black swan HR event unlocked the opportunity
Wayne Bloom and Rich Steinmeier both faced hard math after Dan Arnold's shock firing as LPL CEO, but then the numbers started to add up
April 3, 2025 at 1:44 AM
LPL CEO claims 'prize' 'anti-LPL' Commonwealth for just $2.7 billion, but the price will rise, experts say, to retain its advisors conditioned to know LPL as a place with subpar service, culture
Only about four months into his job, Rich Steinmeier pulled off a coup, but poachers may smell blood, too.
April 1, 2025 at 12:55 AM
Goldman Sachs custody unit gets coveted foothold with Dynasty Financial, but no assets yet in a move that still threatens Schwab and Fidelity, recruiter says
Dynasty has 57 high-end RIAs and $100 billion-plus of AUA with sophisticated clients who can use the investment bank's services.
March 28, 2025 at 2:47 AM
AssetMark takes on 72% financial advisor flameout rate, which is both worse and not as bad as it sounds for RIA 'entrants,' says Eliza DePardo
The $116-billion TAMP has a new CEO, a new owner, bought Morningstar's turnkey assets and now will tackle a quasi-existential RIA concern.
March 25, 2025 at 1:35 AM
Ten month-old New York City startup uses artificial intelligence to gin up RIA leads and reel in immediate success
Eden Ovadia was a 25-year-old BCG consultant presented with a task that she turned into a rare, successful RIA artificial intelligence venture.
March 18, 2025 at 1:44 AM
Fresh off layoffs, Altruist nabs Coinbase CTO and is hiring like crazy, driven and guided by fresh Robinhood-TradePMR threat, ex-Altruist staffer says
The Culver City, Calif., RIA custodian got Sumanth Sukumar, also formerly of Uber and Facebook, with an eye on supplanting Schwab in its former HQ city.
March 13, 2025 at 3:05 AM
Matt Middleton co-founds 'Mint,' which starts virtually as his Future Proof event ends in LA, using the festival set-up, taking the same playbook and getting Anthony Scaramucci to keynote
The crypto and blockchain trade show piggybacks on Huntington Beach city contracts, hotel arrangements and outside shelters -- to establish a cryptocurrency mega-event starting four days later with a 'proven' outdoor concept.
March 12, 2025 at 4:59 AM
LPL will go 'toe-to-toe' with Morgan Stanley, 'launch a brand campaign,' to boost 'LPL' brand, after filing S-3 to rapidly raise up to $4 billion as needed
CEO Rich Steinmeier confides to Louis Diamond on a podcast he will upgrade banking, subject matter expertise and UHNW products -- namely alts, and admits envy toward Commonwealth and Morgan Stanley.
March 11, 2025 at 1:56 AM
BlackRock, Goldman Sachs will curtail DEI HR outreach to comport with new Trump executive order, but neither signals they want to abandon diverse workforce
The world's larget asset manager will subtract racial and gender targets for job interviews but will find new ways to hire candidates that head off 'groupthink.'
