RIABiz

Charles Schwab & Co. took out full-page WSJ ad promising to 'hire thousands more financial consultants' last week; this week it said RIAs will no longer receive sub-$5-million ...

Schwab will feed its wealth manager all sub-$5 million leads starting 2027, and consoled RIAs by promising skyrocketing $10-million and $25-million referrals will keep coming their way.
RIABiz

Salim Ramji (strategically) bends to the will of RIAs by allowing them latitude to remodel Vanguard model portfolios and let three favorite RIA partners -- Orion, Black Diamond ...

Vanguard CEO Salim Ramji now permits RIAs to customize model portfolios by replacing house funds with third-party options. Partnerships with Orion, Black Diamond, and Vestmark provide overlay ...
RIABiz

CAIS lands $170-million from Vista Equity at $2-billion valuation, double the last raise, but amount rekindles questions about whether private equity firms pay premium fo…

The New York City alts marketplace has raised half the sum at double the rate of four years ago, but it can point to growing ...
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

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 ...
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

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 ...

Kurt MacAlpine: This uniquely puts us in a position not to make trade-offs on the next new opportunity.” Brooke's Note: The hallowed ‘partnership’ model so revered in legal and accounting circles it ...
RIABiz

Seven Bridges Advisors

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 coincide with deal ...
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-sorting could ...

Compass Point analysts suggest Schwab could launch subscription-based AI cash-sorting tools to replace lost sweep revenue. Subscription fees for agentic cash sorting may boost Schwab’s stock price to ...
RIABiz

cash sweep

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-sorting could replace lost sweep margins ...
RIABiz

Cash sorting

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-sorting could replace lost sweep margins ...