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

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 ...
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 ...
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

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

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

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

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's stock rebounded after Anthropic partnership details eased AI-related investor concerns. Anthropic confirmed LPL is expanding its partnership to leverage AI in wealth management. Morningstar ...
RIABiz

Greg O'Gara

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 stacked against retail investors Rick ...
RIABiz

hedge funds

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 stacked against retail investors Rick ...
RIABiz

Choreo may win up to $5 billion of SpaceX IPO wealth by bulk sale but likely made a devil's bargain -- a low fee for a high-maintenance clientele, analyst says

Ed O'Gorman: It now exists as a proven model – and once a model works in wealth management, it tends to spread. Choreo pulled off a headline-grabbing coup by winning as much as $5 billion overnight ...