RIABiz

'No rush' Peter Mallouk is doing wild 'gap' deals as he rides out RIA seller's market and his Creative Planning keeps 'billions' of purchasing power 'locked-and-loaded' f…

The $780-billion RIA owner says eye-popping side deals like $4.3-trillion RVK add to the core 'Creative Planning' strategy -- ...
RIABiz

Schwab scores exclusive (for now) contract with Anthropic and takes AI 'driver's seat' in RIA custody, analyst says, though others counter that it's generic and late-coming

The Westlake, Texas, broker/custodian is 'the gorilla' with 'first crack' at new AI system, and will have the category-killing, API-supreme-equivalent that RIAs will be compelled to adopt -- or else, ...
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 ...

The Mariner CEO is all-in on Humanity Labs' agentic artificial intelligence, a venture he co-owns; the payoff will be faster and smoother integration of RIA acquisitions, he says.
RIABiz

Bain Capital (mostly) funds Envestnet buy of Vestmark to surpass $10 trillion and define 'adaptive modularity' strategy, leaving Orion a clear RIA lane

The New York City PE powerhouse likely spent $500 million-plus to power up its Envestnet take-private deal by creating a ...
RIABiz

Schwab Wealth Advisory (SWA) unveils 'corkage' fee on third-party SMAs, typically .35%, as slew of changes add to 'elegant' master plan to convert DIY book to fees

The new Schwab price schedule, much like Fidelity's 'wrap manager,' goes into effect in 2027 and aligns with the aggressive ...
RIABiz

MassMutual helps Flourish find white knight buyer and regain 'standalone' status just months ahead of Phase II rollout that makes its 1,300 RIA clients more like a giant ...

The Springfield, Mass. life insurer is passing the 'controlling interest' baton to private equity on the verge of RIA play to ...
RIABiz

Vanguard Group and Altruist can win RIA hearts, no problem, experts say, but the bro-cultural chasm – 2,700 miles apart and two ways of defining 'client-first' – will ...

Jason Wenk (right) [with Salim Ramji]: We've been defying the odds and proving the haters wrong for nearly eight years. Key Points Vanguard’s $4.6 billion Altruist acquisition marks a direct challenge ...
RIABizOpinion

SEC seeks to rescind 2010 'pay-to-play' rule, paving the way for investment advisors to again bid for public pension contracts while making political donations to official…

The rule grew out of a major 2009 New York state pension scandal involving bribes and kickbacks for pension contracts and ...
RIABiz

After Fidelity shutdown its password-sharing business model last year, Pontera's new tack is a 'non-discretionary service' while it waits out a CFPB decision on bank data ...

Yoav Zurel: There is no one-size-fits-all approach to retirement planning because there is no one-size-fits-all retirement saver. Brooke's Note: It seems to me that it makes all the sense in the world ...
RIABiz

RIABIZ INTERVIEW: Jason Wenk tells RIABiz one big unnoticed reason why he sold to Vanguard, and the Bogle-ish scenario he envisions for his eventual departure decades hence

Jason Wenk: 'They know who I am.' Brooke's Note: I got Jason Wenk on the phone Friday. We had published our article the day before about the obstacles Vanguard faces in making its purchase of Altruist ...
RIABiz

Amid a flood of warnings about dangers of rogue AI, Hamachi steps in with newly patented system to protect sensitive RIA client data from AI breaches

Anthropic staffer quit among dire warnings Tuesday and the RIA startup today released the news it has a patent to exceed ...
RIABiz

CEO Jason Wenk says Altruist's AI 'Hazel' is ready for its second act, a financial planning service that will blow away the market with one big caveat -- advisors must be ready ...

Altruist launched Hazel Financial Planning Agent to challenge dominant incumbents like eMoney, MoneyGuidePro, and RightCapital. Hazel promises four-minute financial plan generation for a $3,600 annual ...