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Bernie Clark's parting remarks -- webcast and media ...

Bernie Clark's parting remarks -- webcast and media ...

June 01, 2024 - Daily Newsletter for RIABiz subscribers

RE-WIRED HOUSES
Bernie Clark: The 'join' deals are now twice the 'start' deals.
The exit-bound Schwab RIA chief, never one to offend, says his company's net new assets depend on the aggregators 2-to-1 over RIA startups, but some are choosing a counterproductive path
2 hours ago Brooke Southall

Schwab Advisor Services' future is more about breakaway brokers “joining” big RIAs and less about filing an ADV and “hanging out a shingle,” according to Bernie Clark, in a recent webcast and media interviews.

'WOW'
Eric Clarke: I have been eager to sustain my involvement in the industry in a m…
The New York City consulting giant quietly made the Orion founder and ex-CEO a McKinsey senior advisor two months after he stepped down last year.
Thursday 5.30.24 Oisin Breen

Brooke's Note: We all know that the hottest job you can get straight out of college is to work at McKinsey or another major consulting firm. In 2022, 40% of Harvard's graduating seniors went that consulting route and 34% in …

GOING ALTS IN
Rick Wurster: It'll be state of the art.
The $9T brokerage soft-announced that the long-term project is coming to fruition but RIA clients are excluded, for now
Wednesday 5.29.24 Brooke Southall

Charles Schwab & Co. will soon roll out its own branded alternative investments, largely by signing an exclusive deal with a third-party provider.

WOLF PACT
Walt Bettinger: 'The executive team made sort of an informal pact.'
The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.
Saturday 5.25.24 Lisa Shidler

Schwab CEO and co-Chairman Walter Bettinger made a startling reveal to explain why almost his entire leadership team – Bernie Clark, Peter Crawford and Joe Martinetto – is exiting en masse this year.

MOST RECENT ARTICLES
The New York City robo-advisor rolled out the red carpet to XY Planning Network RIAs including dedicated service desks, website -- and dropping of fat fee.
The Toronto parent's stock rises on announcement to sell notes on the private placement market, freeing Corient to leverage up and break a 7-month deal drought.
Slogging through 1,000's leads is one way to 'crack the code,' says an analyst, but closing a lead requires painstaking follow up.







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