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Rebecca Lynn kept her 'RIA' powder dry since ...

Rebecca Lynn kept her 'RIA' powder dry since ...

August 13, 2024 - Daily Newsletter for RIABiz subscribers

ANTI-'ARCHAIC'
Rebecca Lynn: 'I’ve been waiting to see a company like Savvy Wealth.'
The Canvas principal swooped in, she says, because Savvy is best positioned to leverage AI -- but will need her firm's cash to maximiize its efforts.
an hour ago Oisin Breen

Rebecca Lynn is back after scoring a rare financial success in automated advice – but this time she's investing in a human RIA that wants to apply AI to spare RIAs from management headaches.

ARCH DE TRIOMPHE?
Zach Smith: Hired by to develop a world-class sales team.
Salim Ramji is high on alts, low on IPO and is piloting AI for service • Arch now serves 270 clients, up from 200 in January • Nearly 2% of Fidelity's 401(k) clients have $1 million or more • Dave Antonelli leaves BlackRock for start-up after 21 years • Grayscale's Ethereum 'mini-trust' inflows of $130 billion fall far short of main-trust outflows nearing $1.8 billion
Saturday 8.10.24 Oisin Breen

New Vanguard CEO Salim Ramji made the rounds in New York City with CNBC and Bloomberg interviews, but left Vanguard watchers unsure whether he's Jack Bogle or BlackRock in sheep's clothing.

EX-VANGUARD
Noni Robinson: Small firms... ' often have fewer resources, which can put them …
The deal with the Chicago up-and-comer all came together in 2024 as part of Fidelity's quiet hire of ex-Vanguard talent to head emerging RIA unit.
Friday 8.9.24 Brooke Southall

Brooke's Note: All big custodians are cautious about embracing small RIAs. Small firms demonstrate the maximum dysfunction for the minimum return. Charging small RIAs a minimum fee – of say $10,000 – is one potential solution to mitigate some of …

FORCED MARCH
Jason Wenk: 'Unfortunately, clients cannot stay at Pershing.'
The Culver City, Calif. custodian called a town hall after negotiations with Pershing fell flat and gamely admits this was not the 'original intent'
Wednesday 8.7.24 Lisa Shidler

Brooke's Note: This article was reported on deadline, hence we didn't get all answers before publication. Today, Altruist CEO Jason Wenk assiduously answered all our questions and we added them in a sidebar below.

MOST RECENT ARTICLES
The $10-trillion manager, which has no salesforce, is 'powering flows' by allying, as vendor and owner, with RIA outsourcers like GeoWealth, after previous success with Envestnet and iCapital.
'Cash' lawsuits are piling up, and even Ameriprise singled it out for alleged bad faith, while the stock fell 7.77%, just on Friday.
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.







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