RIABiz

Vanguard is fulfilling Salim Ramji's May 1 promised renewal of 'Flagship' platinum tier service after it eroded, and he's willing to count non-Vanguard funds against the $1 ...

The Malvern giant's CEO admits he heard from many investors about how the 1990's program had ceased to differ from baseline ...
RIABiz

An Amazon intern in 2020, Nevis CEO Mark Swan is the unlikely dream weaver for Focus Financial and other big RIA rollups with 'nightmare' integration issues -- with …

With a new Nevis contract, Focus CEO Adam Biernbaum concluded he was buying a process, not a product, because applying ...
RIABiz

Rick Wurster chides Fidelity in wake of Fido's $100-million RIA purge, as Q3 net-new RIA assets -- both Schwab Advisor Services and Schwab Wealth Advisory -- soar 47…

The Schwab CEO underscores that his firm brought in triple the number of third-party RIA firms to the No. 2 custody provider ...
RIABiz

Bank of America analyst 'double' slams Ameriprise not least because RIA 'structural' advantage triggered proactive in-house retention bonuses that take a bite out of m…

The Minneapolis brokerage giant is paying its own to stay put to slow a breakaway onslaught, but it could expensively raise ...
RIABizOpinion

Pershing reveal of 'Wove' kerfuffle during corporate restructuring last June raises questions about the No. 3 RIA custodian's direction; the task now lies with new RIA …

Ainslee Simmonds is out, and 'Wove' with her, as the unit attempts re-set under BNY insert Adam Vos, and Jim Crowley is moved ...
RIABiz

TD Bank's RIA unit poaches Schwab's 'head of firmwide AI' and makes him its 'head of U.S. Wealth' with an eye on national franchise

After hitting $8-billion plus of AUM and $16 bilion of AUA, the Mt. Laurel, N.J., bank wealth unit nabbed Hardeep Walia to ...
RIABiz

No sooner does MassMutual sell control of Flourish than it massively buys its cash management services for its 6,000 brokers; odd timing explained by 'plumbing'

MassMutual expanded Flourish Cash access to its entire network of 6,000 financial professionals nationwide. Flourish secured the deal by targeting held-away bank assets rather than competing with ...
RIABiz

LPL finally stops (largely) Anthropic-fueled stock price skid by confirming 'something big' -- with Anthropic -- a new Morningstar report pounding the table to buy LPL shares ...

LPL Financial shares stabilized after Anthropic executives confirmed an expanded partnership focused on wealth management AI. Anthropic's new agentic AI tools aim to automate complex, regulated tasks ...
RIABiz

Will Trout

State Street's newly launched Apex-powered RIA custody unit has sizzle and 'wedge' power, especially after Pershing's Wove 'fell flat;' but to avoid fizzling, the power duo needs to steer past ...
RIABiz

Fidelity Investments just cast a wider net for RIA custody revenues by backstopping Savvy Wealth's (expected mid-2027 ) custody launch -- hastened by the lean-in of 'multi ...

Ritik Malhotra: We have some multi-billion dollar AUM groups of folks that are very seriously considering the RIA platform right now. Fidelity Investments now has another, more AI-focused fishing line ...
RIABiz

After dominating Forbes rankings for years, Morgan Stanley suspends participation over $6-million editor scandal -- forcing RIAs and wirehouses to weigh whether 'rented ...

Emma Smith: The amount of money being made around these rankings makes the 'separation of church and state' incredibly important. Brooke's Note: We were working all week on a follow-up to last ...
RIABiz

Marty Bicknell commits $175 million to install 700 'AI' bots to revolutionize RIA automation; the gamble isn't AI but whether advisors, clients, staff and leadership will ...

Mariner Wealth Advisors is committing $175 million to deploy 700 AI bots for enterprise-wide back-office automation. Automating administrative tasks aims to free advisors from drudgery, allowing them ...