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Morningstar finally discloses what AssetMark paid for its ...

Morningstar finally discloses what AssetMark paid for its ...

August 02, 2024 - Daily Newsletter for RIABiz subscribers

THE GOOD NEWS
Kunal Kapoor: As investment timelines stretched out ... we incurred significant…
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.
50 seconds ago Brooke Southall

Morningstar made a hard decision to dump its budding $12-billion TAMP – and absorb $3.3 million of related severance costs – but it may salvage as much as $100 million from the asset sale to AssetMark.

CAPTIVATING STORY
Rick Kent: We believe that this transition will better position us to offer inn…
Dan Arnold derided the idea of 'captive' advisors; analysts still call the break-up a 'headscratcher'
21 hours ago Lisa Shidler

Brooke Southall: You had to wonder what and where a shoe was going to drop when even-keeled Dan Arnold spoke on July 25th with rare venom about clients soon to be cut loose from the LPL herd. Their crime: ‘Misalignment’ …

LONG STORY
David Lafferty: Investors continue to seek out cost-effective, income-producing…
Schwab, choosing its words carefully, will launch an ultra-short income ETF, its first active fixed-income ETF on or about Aug. 13.
Wednesday 7.31.24 Brooke Southall

Charles Schwab Corp. is back in the ultrashort bond game 13 years after a scuffle with the SEC that no doubt left a bitter taste about the whole category – and how it's policed.

VANCE VENTURE
Matt Cole: We're evaluating acquisitions of existing RIAs and lift outs of team…
The 39 year-old vice presidential candidate's investment into the anti-ESG ETF-maker Strive Asset Management draws him closer to its owner, Ramaswamy, 38.
Tuesday 7.30.24 Oisin Breen

JD Vance, who competed with Vivek Ramaswamy to be Donald Trump's vice presidential running mate, is now joining forces with his former GOP rival to take on the RIA roll-up industry.

MOST RECENT ARTICLES
Schwab, Morgan Stanley, LPL and Wells Fargo are among the firms feeling the heat and facing the conundrum around overreliance on a chief revenue source.
Leslie Dentinger Norman -- more of an RIA process expert than a coding wonk -- is ready to dial in the big Dynasty deliverable, a judicious admixture of bundles, unbundles and data usage based on firm needs
The Malvern, Pa., giant follows BlackRock warning that tracking indexes could lose precision or that the fixes -- derivatives or funds -- have their own downside... added expense.







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