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Jarrett Cohen broke away from Merrill Lynch in ...

Jarrett Cohen broke away from Merrill Lynch in ...

July 16, 2024 - Daily Newsletter for RIABiz subscribers

ICONOCLASTIC VISION
Jarrett E. Cohen: 'We are focused on diversifying the wealth management space.'
Cohen just added four part-time hires to help shoulder growth at his firm, which has no account minimums and a mission to 'help everyone.'
5 hours ago Rogers Crowley

Jarrett E. Cohen needed a building for his RIA business, and he wasn't afraid of a little irony.

FURTHER ALONG
Taylor Matthews: We just wanted to make sure we worked out the kinks
The VC-backed RIA stared down legal perils to grab United Capital defectors but is now in 'good shape,' its CEO says, revealing that it grabbed 32 advisors in the past three quarters bringing it to $3 billion AUM
Friday 7.12.24 Lisa Shidler

Farther took a gamble, held its breath and then reported the good news: It poached a windfall of advisors and their assets from Goldman Sachs while avoiding the squid's unimaginably entangling legal tentacles.

FRESH SHEET
Tom Sipp: In a private setting, you can think long-term.
Bain brought in Reverence, which owns Osaic, and a bunch of asset managers to fund the deal it controls, and will appoint a new CEO later this year
Thursday 7.11.24 Brooke Southall

Envestnet accepted Bain Capital's $4.5 billion offer to become a private company with BlackRock and Fidelity as prominent owners, 14 years after it went public in 2010.

MAX HEADROOM
Gary Gallagher: Fidelity and Envestnet are combining the best of both firms.
The Boston clearing and custody giant has been using the Berwyn, Pa., TAMP/SMA giant for managed accounts, but now Fidelity is making Envestnet a big software partner to make its own TAMP a 'category killer.'
Thursday 7.11.24 Oisin Breen

Fidelity Investments, Envestnet and Schwab Advisor Service compete hard individually for RIAs, but when it comes to turnkey solutions for RIAs large and small, an enemy of an enemy is a friend.

MOST RECENT ARTICLES
The ex-BlackRock exec began life yesterday at the mega RIA and asset manager knowing his mission is financial and ecumenical in nature, but with the calls for a turnaround centering more on the latter.
The famed Boston private equity firm already has big stakes in Carson Wealth and CI Financial and may be in the hunt for other acquisitions.
The West Palm Beach, Fla., TAMP is getting Courtney Robertiello and Jacqueline Burke, and their staggering 29 years of experience for 'growth and innovation,' the company says.







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