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Sleeping giant McKinsey & Co. hires Eric Clarke ...

Sleeping giant McKinsey & Co. hires Eric Clarke ...

May 30, 2024 - Daily Newsletter for RIABiz subscribers

'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.
56 minutes ago 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
22 hours ago 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.

XYPN FACTOR
Thomas Moore: It's more strategic… we see an opportunity.
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.
Thursday 5.23.24 Oisin Breen

Betterment is making a play to own a big chunk of the micro-RIA market by targeting XYPN – the RIA-minting machine co-founded Michael Kitces, Alan Moore – with a deal they're unlikely to refuse.

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