RIABiz

Raymond James poaches top Schwab RIA custody exec, as LPL, Cetera put pressure on IBDs to get RIA-hybrid competitive

Schwab RIA custody exec Elyn Davis lands at Raymond James where she'll lead 'client experience' as hybrid-RIA battle heats up among major IBDs.
RIABiz

Altruist promises 'NASA-like precision' with sweep-cash funded margin loans, aiming to solve the tax-aware long-short SMA bottleneck frustrating RIAs at Schwab and Fidelity

Altruist expects its margin lending service to be fully up-and-running by September; broad support for short-selling will follow.
RIABiz

Orion and Goldman Sachs deepen their two-way custody and tech ties with a new AI onboarding tool, but shared large RIA clients may still prefer to build their own API …

The $6.6-trillion Omaha RIA outsourcer and the emerging RIA custodian have vast advantages over each other but also have a ...
RIABiz

Rick Wurster insists Schwab won't charge RIAs custody fees or roll out AI cash optimizers, but Compass Point analysts say a 'Costco'-style fee for agentic cash-sort…

The antidote to a problem that does not yet exist is still a hypothetical power that may be a deterrent to investor fears ...
RIABizOpinion

Schwab CEO said his company would be a 'premier destination' for private markets, on July 21 -- a day later, Andy Rachleff blogged why private investments are stacke…

Rick Wurster told analysts that Forge makes Schwab the private investments 'destination of choice,' but Rachleff retorts as a ...
RIABiz

Schwab is nixing FDIC backing on Schwab One sweep cash to 'Investor Checking' as soon as Sept. 8 by moving it all under SIPC -- with clear drawbacks for investors, say analysts

It's the latest move by the Westlake Texas RIA custodian and brokerage to bolster 'economics' of its key revenue source, but the savings aren't being passed to investors, and FDIC and SIPC coverage qu ...
RIABiz

LPL shares soar after hours on earnings and good news about 'Commonwealth' unit -- projected $25-million 'run-rate' uptick, and details from CEO about why 85% rep …

The Fort Mill, S.C., broker-dealer is keeping its Commonwealth narrative intact -- it's both all economics and all ...
RIABiz

Cerulli reveals giant leak in RIA assets, and Mark Tibergien explains why plugging a hole draining the Boomer 'Great Wealth Transfer' may be a harder than ever

The Boston firm says client withdrawals of around 4% are a giant drain, and the Moss Adams guru says hungry Boomers are ...
RIABiz

No-constraints Corient's $21-billion RIA buy -- right after three deals closed with $19 billion -- is more of a harbinger than a harvest, says CEO, as integration completions ...

Corient whets its appetite buying Seven Bridges' $5 billion and $8 billion business in Tulsa and $5 billion Vivaldi in in recent months; lightening integrations -- and 'permanent capital' -- make the ...
RIABiz

Schwab CEO ties his firm's blowout RIA custody asset quarter to Fidelity's long/short fund rethink; a big household halo multiplied the effects of the popular and controversial ...

Rick Wurster: When we win the long/short business, not only do we win that business, we tend to win the business [of] the whole household. Key Points Fidelity's long/short fund strategy shift boosted ...
RIABiz

Beverly Goodman

Vanguard hires ex-Barron's, ex-Fido 'thought leader' and CFP for mission impossible -- to better speak to RIAs after years of viewing third parties (and their fees) suspiciously The $12-trillion asset ...
RIABiz

Trap Kloman

LPL gets blasted by upstart co-founder for its Commonwealth staff slash as its CEO Wayne Bloom expresses 'melancholy' over the cuts but stands by sale to LPL -- 'sustainability' is paramount, he says ...