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Fidelity Investments picks Advyzon to tackle small RIAs, ...

Fidelity Investments picks Advyzon to tackle small RIAs, ...

August 09, 2024 - Daily Newsletter for RIABiz subscribers

EX-VANGUARD
Noni Robinson: Small firms... ' often have fewer resources, which can put them …
The deal with the Chicago up-and-comer all came together in 2024 as part of Fidelity's quiet hire of ex-Vanguard talent to head emerging RIA unit.
52 minutes ago Brooke Southall

Brooke's Note: All big custodians are cautious about embracing small RIAs. Small firms demonstrate the maximum dysfunction for the minimum return. Charging small RIAs a minimum fee – of say $10,000 – is one potential solution to mitigate some of …

FORCED MARCH
Jason Wenk: 'Unfortunately, clients cannot stay at Pershing.'
The Culver City, Calif. custodian called a town hall after negotiations with Pershing fell flat and gamely admits this was not the 'original intent'
Wednesday 8.7.24 Lisa Shidler

Brooke's Note: This article was reported on deadline, hence we didn't get all answers before publication. Today, Altruist CEO Jason Wenk assiduously answered all our questions and we added them in a sidebar below.

OWNER/VENDOR
Colin Falls: Through the commercial dialogue with BlackRock, it made sense to a…
The $10-trillion manager, which has no salesforce, is 'powering flows' by allying, as vendor and owner, with RIA outsourcers like GeoWealth, after previous success with Envestnet and iCapital.
Monday 8.5.24 Oisin Breen

When BlackRock talks capital backing in “commercial" chats, TAMPs tend to listen, even when they don't need the money.

RAINS, IT POURS
Louis Diamond: I have never been privy to scalable maneuvers by firms to bend c…
'Cash' lawsuits are piling up, and even Ameriprise singled it out for alleged bad faith, while the stock fell 7.77%, just on Friday.
Saturday 8.3.24 Brooke Southall

LPL Financial had one of its worst weeks in years, but don't blame Bank of America.

MOST RECENT ARTICLES
The Chicago company also revealed it recorded $3.3 million in severance costs and got more specific about just how much the Tamp was a money pit.
Schwab, choosing its words carefully, will launch an ultra-short income ETF, its first active fixed-income ETF on or about Aug. 13.







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