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Focus triggers Moody's by fighting debt with debt ...

Focus triggers Moody's by fighting debt with debt ...

June 05, 2024 - Daily Newsletter for RIABiz subscribers

FAIR IS FARE
Manish Khatta: It's fair that ETFs start paying their way for access to assets.
Focus leverage ratio rose again; Moody's dings • Fidelity shores-up ETF marketplace revenues • Schwab backs brick-and-mortar • Facet outsources estate planning • Krawcheck claim puts $53 trillion in question • Sonneshein exits to grey clouds at Grayscale • Carson Group denies ex-CMO's claims
an hour ago Oisin Breen

Focus Financial Partners has the Moody's blues because its plan to create three mega RIAs out of 90 smaller ones will come at a cost.

PAINT IT BLACK
Todd Russ' defense of the 'anti-ESG' law was slammed by the Oklahoma attorney g…
The state's pension board disregarded the Republican-dominated government by extending BlackRock's contract to manage $7.3 billion of its retirement assets -- BlackRock still scaled back its ESG stance.
Monday 6.3.24 Oisin Breen

Brooke's Note: This was never David and Goliath. It was more like two Goliaths, and something had to give. The state of Oklahoma ended up losing to Oklahoma's pension machinery over whether ‘woke-capitalist’ BlackRock could do business in the state. …

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
Saturday 6.1.24 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 …

MOST RECENT ARTICLES
The $9T brokerage soft-announced that the long-term project is coming to fruition but RIA clients are excluded, for now
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.
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.







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