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Walt Bettinger discloses expiration of unknown 'pact' to ...

Walt Bettinger discloses expiration of unknown 'pact' to ...

May 25, 2024 - Daily Newsletter for RIABiz subscribers

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.
an hour ago 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.

COMFORT ZONE
Kurt MacAlpine: We're very comfortable with our debt levels.
The Toronto parent's stock rises on announcement to sell notes on the private placement market, freeing Corient to leverage up and break a 7-month deal drought.
Wednesday 5.22.24 Brooke Southall

UPDATED: CI Financial Corp. announced today [May 22] that it has “successfully priced” its private offering of $675 million aggregate principal amount of its 7.500% notes due 2029. It will spend about $645. million of the net proceeds to repurchase …

CRACKING THE CODE
Michael Carvin: People would be shocked by AUM growth numbers our partners achi…
Slogging through 1,000's leads is one way to 'crack the code,' says an analyst, but closing a lead requires painstaking follow up.
Tuesday 5.21.24 Lisa Shidler

Brooke's Note: I recall the occasional Wall Street Journal article back in the day that interviewed young wirehouse brokers who were just keeping their heads above water by making 70 cold calls a day. They had the energy to do …

MOST RECENT ARTICLES
The 14-year head of Schwab RIA custody kept both CEO Walter Bettinger and heads of 15,000 RIAs happy in an incredible juggling act of corporate and entrepreneurial goals
Kelsey Lewis takes charge in Bozeman as president with CEO-like day-to-day duties that include replacing herself as customer success officer.
The Malvern, Pa., firm is hiring an executive with impeccable credentials and proven ambition as lawyer, McKinsey partner and power executive on Wall Street







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