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Betterment whistleblowers net $2.5 million • Wealthfront's big ...

Betterment whistleblowers net $2.5 million • Wealthfront's big ...

June 29, 2024 - Daily Newsletter for RIABiz subscribers

NEW MOVES
Tom Moore: We're always looking for ways to add value.
Betterment is also bending to RIA needs • Wealthfront is in the black, thanks to cash • Altruist reveals where it makes its money • Rise, Wealthspire and Ascensus each add two executives • Compound hits $2 billion of AUM • CAIS slashes alts prices • BlackRock ups private debt sales to RIAs, through GeoWealth.
a minute ago Oisin Breen

The Securities and Exchange Commission (EC) just agreed to pay at least two Betterment whistleblowers $2.5 million.

THREE-DIMENSIONAL
Kaitlin Hendrix: We have the expertise.
Dimensional Fund Advisors has traditionally targeted big RIAs and TAMPs but growth rate and margins have shrunk and this in-house TAMP play could help address both
22 hours ago Brooke Southall and Oisin Breen

Dimensional Fund Advisors (DFA) has long been the meat in the TAMP sandwich, but now it's ready to be Subway – the better to address smaller RIAs and to compete with turnkey asset managers.

ANNUITIES ON BOARD
Brendan Curran: 'Our key business has quite a bit of momentum behind it.'
State Street is still working on finishing touches but is building on its momentum after leaping from seventh to third in retirement asset management
Thursday 6.27.24 Lisa Shidler

Fast-rising State Street Global Advisors is starting to turn BlackRock's annuity wrapped with target-date-funds into a trend with the “next generation” of its "IncomeWise" offering.

QUICK PUNT
Daniel Needham: Our strategy is always a thesis.
Morningstar nets a cash windfall, a better distribution deal, and it reduces conflicts with its clients, but SMArtX is the likely loser, which will no longer administer Morningstar's TAMP assets.
Monday 6.24.24 Oisin Breen

Morningstar's eye-opening sale of its TAMP's $12-billion book of business to AssetMark signals the end of a two-year run at cobbling together software and research into a TAMP for RIAs and IBD reps.

MOST RECENT ARTICLES
The West Palm Beach, Fla., TAMP had the Chicago company as a white knight customer and VC backer but the vendor relationship might be in peril, analysts say
Members are broadening the business model, with her blessing; Garrett will retain a board seat and focus on raising fruits and vegetables on her Arkansas farm
Investors who 'excessively rely' on telephone calls may first face longer hold times and pay fees for overburdening call centers after the $9-trillion manager amended its brokerage compact with new terms







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