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Articles tagged "Mark Casady"


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Newly named CEO Jon Isaacson has a month to pull off what his predecessor couldn't during the prior 23 months.

Mark Casady is under the gun to spend his SPAC's $200 million of cash to avoid October deadline but a recent SEC filing sounds an ominous note after CEO departs

Lefteris reports that Jon Isaacson is taking over as CEO from Karl Roessner, the 'natural choice' to make a deal, according to Casady, though it's down to a few weeks

September 29, 2022 at 1:24 AM

Larry Roth: Our first acquisition will be a very large, well-established, branded firm.

Kingswood raises $115 million of SPAC cash and its Wall Street profile by cutting in Larry Roth; but can they buy RIAs at the right price in a feverish market?

With the RIA rollup game go-big-or-go-home, making a royal alliance between British founders and Roth boosted the blank-check venture

December 19, 2020 at 2:02 AM

Chip Roame: Many SPACs have lighter management teams, often led more by investors than by operators. The Lefteris team has three former CEOs.

Heads or tails he wins, but Mark Casady's upside for making his SPAC click is head-spinning because the IPOs will keep flying out the door

SEC filings detail the Lefteris chairman's overnight gains of maybe $50 million, but if the ensuing reverse merger or buy blossoms, it'll trigger a potential virtuous circle.

November 5, 2020 at 8:41 PM

Mark Casady: This is my third IPO so the previous two were helpful in knowing what to expect. This process was much easier

Mark Casady completes IPO of Lefteris 10 years after LPL Financial's initial public offering and plans to use the SPAC's $200 million raised to lift mom-and-pop fintechs

The former LPL CEO has a team for his Boston-based special purpose acquisition company that includes Chip Roame, April Rudin and Edelman, E*Trade and LPL alumni.

October 24, 2020 at 5:01 AM

David Blundin: We've seen nearly six hundred business plans at this stage, and are reviewing eight a week now.

Oisin's Bits: Casady and Blundin's Vestigo-voyage gathers steam with near $60 million cash-pile; Ethical-robo OpenInvest raises $10.4 million and flips B2B switch, founder lays into mutual funds

In this roundup, Mark Casady and David Blundin's VC-odyssey, Vestigo Ventures, closes its first fund as the duo outline a nine-year strategy, and reveal they pitched in 8.5% of its near $60 million cash-pile; and the socially responsible investment robo-advisor OpenInvest goes B2B, rakes in $10 million of VC funds, gives votes to passive investors, and slams mutual funds.

September 14, 2018 at 9:29 PM

Mike Alfred (l. pictured with with brothers Ryan and Eddie): There's no Schwab or Fidelity. Go beyond CoinBase and it's the frickin' Wild West.

Mike Alfred also exits BrightScope to follow brother Ryan into cryptocurrency sphere

With Mark Casady and Josh Brown as backers, the former BrightScope CEO raised a quick $1.5 million over the weekend, partnered with a third Alfred -- Eddie -- and set about casting light on 1,000 cryptocurrencies for hedge funds

January 24, 2018 at 4:13 AM

Jim Putnam: We have great confidence in our ability to thrive as an independent public company.

Incredulity hovers over LPL's retro -- or is it inspired? -- choice of original 1983 employee Jim Putnam as chairman

As the 14,000-rep broker-dealer gropes for a post-DOL, post-digital future, it'll rely on the old-school standard bearer to shepherd new CEO Dan Arnold

March 10, 2017 at 8:05 PM

Paul Saganey: We didn’t even discuss the prospects for a sale in our talks.

How a $4-billion OSJ jumped ship from Lincoln Financial to LPL just before the Mark Casady step-down in search of safe harbor in the eye of DOL-rule storm

Lincoln wins in that Integrated Financial Partners still gorges on its products but CEO Paul Saganey likes the better control over fees under LPL

December 12, 2016 at 7:47 PM

The first Vestigo investment, LifeYield, is located in the famed 'pregnant' building at 175 Federal in Downtown Boston.

Mark Casady quietly became co-founder of venture capital firm and, pre-post-LPL, it's making noise

The departing LPL chief is one of two general partners of Vestigo Ventures, which bought a stake in LifeYield -- an advisor software company

December 8, 2016 at 9:59 PM

Dan Arnold: As an entrepreneur at heart, I am constantly inspired and energized by the work of our advisors and institutions.

LPL takes selling off the table and takes out boisterous Mark Casady at CEO in favor of quiet Dan Arnold

The firm's future as an independent public company is assured for now but the abrupt shift in management style poses new questions

December 6, 2016 at 12:52 AM

Mark Casady: We're seeing banking institutions asking themselves: Should we retain our brokerage structure in the sense of owning our own broker-dealer?

LPL shares spike despite CFO downplay of buyout prospects as CEO Mark Casady reveals 'large programs' at banks are kicking LPL tires

DOL rule spurs banks that seek to ship broker-dealer business its way to counterbalance DOL downers

November 9, 2016 at 9:25 PM

Walt Bettinger (with Bernie Clark): It’s fairly safe to say that most of the rest are available for the right check.

As Bernie Clark and Walt Bettinger go on offense, LPL and Wells Fargo names get named and a B2C robo dry-up gets foretold at Schwab IMPACT in San Diego

The Schwab CEO, buoyed by his robo, robust quarterly results and DOL fallout at competitors is on offense -- a state of being RIAs can relate to

October 28, 2016 at 6:41 PM

Doug Flynn: New management brings in its own coaches.

LPL Financial share price tumbles to pre-hostile bid levels in atmosphere of eerie calm

LPL reps shrug their shoulders over a possible sale and investors seem in no hurry to buy but experts say the B-D has what PE loves -- lousy growth but terrific cash flow

October 21, 2016 at 6:57 PM

Mark Casady may seek a sale but the big question is who will buy?

LPL is for sale -- in whole or part -- and Wells Fargo at least makes the list of potential buyers

Goldman Sachs, which led the IPO, is now shopping its baby even as hedge funds swarm, Reuters says

October 11, 2016 at 8:58 PM

Opposed by hedge fund stakeholders, James Riepe is supported by The Vanguard Group, BlackRock, State Street, Fidelity Investments and Invesco.

How LPL's wolf pack of hedge funds only added to its stake, even as a mini-faction of non-hedge directors tried to hold them in check

As the Boston IBD's annus horribilis continues unabated, PE-friendly directors are joining the board with little opposition

September 7, 2016 at 8:54 PM

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