RIABiz
RIABiz

Ten years into a pilot, State Street finally ...

Ten years into a pilot, State Street finally ...

June 27, 2024 - Daily Newsletter for RIABiz subscribers

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
25 minutes ago 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.

GETTING SMART
Dan Phillips [Northern Trust photo]: I’m excited to be a part of the rapidly ev…
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
Wednesday 6.26.24 Brooke Southall and Rogers Crowley

Just a day after Morningstar reported deal news that could subtract $12 billion from SMArtX's AUA, the West Palm Beach software company issued its own release about a big-time hire to lead it to smarter pastures.

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.

THEN LIFE HAPPENED
Sheryl Garrett: I got called an idiot.
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
Friday 6.21.24 Lisa Shidler

Sheryl Garrett has just sold the Garrett Planning Network (GPN) while saving her soul, which has been severely tested by tragedy for the past eight years.

MOST RECENT ARTICLES
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
The founder, owner and chair of the $275-billion AUM firm continues a trend where top owner-operator RIA players are still in control.
The $275-billion Plano, Texas, RIA is selling an estimated 20% stake for $2.5 billion, and Fisher says outsiders can do 'never-yet-done solutions' for the firm.







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