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'Cash' backlash smacks RIA industry after custodians overreached, ...

'Cash' backlash smacks RIA industry after custodians overreached, ...

July 27, 2024 - Daily Newsletter for RIABiz subscribers

SWEPT ASIDE
Dan Arnold: In all, we feel good about the strong complement of cash solutions …
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.
56 minutes ago Brooke Southall

Brooke's Note: The most despised payment for services in the wealth management business is a fat sales commission. Next on the list is perhaps any fee that can be identified. Third on the list is the revenue source that has …

DATA CZAR
Leslie Dentinger Norman: We don't want them figuring out financial planning too…
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
Friday 7.26.24 Lisa Shidler

Brooke's Note: On conference panels during the past 15 years, Shirl Penney could reliably be seen in the company of Elliot Weissbluth, Joe Duran, Rudy Adolf and a host of other entrepreneurs with a similar mission -- helping big RIAs …

OWNER-OUS SIZE
Vanguard CEO Salim Ramji has two 'ownership' issues to confront
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.
Thursday 7.25.24 Brooke Southall

Brooke's Note: In 2015, Burton Malkiel wrote that we are nowhere near having a problem with so many assets piling into index funds. “Indexing could double from present levels and there would still be plenty of active managers at work,” …

PICKUP LINE
Chris Norton: While ‘Potomac’ didn’t say much about who we are, it did have nea…
Christopher Norton's burst of creativity came aboard a flight when he had nothing but time and the electronic ear of Manish Khatta, his Potomac Funds boss.

Brooke's Note: If you were flying back from Scotland after your wedding, you would have done the same thing – written a column for RIABiz about the rationale behind paying a minor king's ransom for a domain name. It was …

MOST RECENT ARTICLES
Cooper Rey is the biggest loss to date, after handing in his notice Thursday morning, but Goldman also has good news after five recent custody wins.
The Series C raise for the company that does alts drudge work for 100 RIAs -- and others -- shows the tremendous private equity appetite for all things alts distribution -- even if alts themselves continue to lag
Carson case develops • After taking 58 months to sell its first $1 billion of annuities, DPL did its third billion in six months • Potomac's Christopher Norton promises to show fun side of RIAs and thanks F-word (fiduciary) video ban • SSGA has a new COO.







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