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Brooke

Brooke Southall

Managing Principal, Reporter

brooke@riabiz.com
415.389.8207

Brooke is known locally in Sausalito, Calif. as a cyclist, houseboater, and the guy with the huge dogs. On the web he's known as a regular voice on the happenings of the RIA business. He started RIABiz in 2009 after deciding the industry could use a more focused channel of information, which has proven to be the case.

He oversees the flow of articles on RIABiz, but still gets to spend a considerable amount of time reporting and writing. Somehow he manages to pump out story after story despite his frequently crashing Windows laptop and his hunt-and-peck typing method.

Articles written by Brooke Southall


Mike Foy: We call them self-directed. There's been blurring of the lines.

JD Power crowns Schwab as tops for 'self-directed' investors for its ability to provide investors greater direction
Scottrade plummets from first place to fifth as Fidelity and Vanguard come in a hair behind Schwab

Friday 5.22.15
Brad Matthews [r.] with Jason Novotny: I guarantee, I promise there will be a big institution [using Trizic] in the next 12 months.

After Schwab robo launch, Trizic phones leap off the hook as Wall Street brokers and bankers come calling -- and VCs write checks
Ex-JP Morgan Trizic founders say their giant enterprise prospects went from 'denial' to 'how?'

Monday 5.18.15
Brooke Southall, Michael Lock, Megan Carpenter and Jason Lahita : I don't expect to see [Google and Facebook] in heavily regulated businesses, Lock says.

Credible reasons Facebook and Google won't become robo-RIAs and other things I learned at Hearsay Social-Pershing event in San Francisco
The atmosphere was SOMA startup, the 20-plus RIAs wore suits and dresses and Mark Tibergien was in listening mode

Friday 5.15.15
Oleg Tishkevich will join Envestnet as financial planning chief.

Envestnet acquires Finance Logix on heels of Upside
The Chicago outsourcing behemoth seeks to unify investment planning and financial planning

Wednesday 5.6.15
Call-center associates and engineers sit side by side at Future Advisor's gritty San Francisco digs.

FutureAdvisor responds to Schwab's market entry with a truly free offer and big backing from Fidelity and TD Ameritrade
The San Francisco-based RIA is automating parents' investments into 529s, Coverdell ESAs, UTMAs or UGMA for tax-free savings, no paperwork

Tuesday 5.5.15
Jeff Schnitz (r.) sits shoulder to shoulder with Joe Piazza to tell prospects why Addepar is part of their hyper-ambitious RIA startup plan.

The wary love affair between RIAs and Addepar and where it's headed
Silicon Valley Bank launches RIA, SVB Private Bank, to join Robertson Stephens and Iconiq Capital among Bay Area RIA devotees

Thursday 4.30.15
Walt Bettinger: As time goes on, the weighting of new-to-firm clients is growing.

Schwab grabs astounding $1.5 billion of robo assets in six weeks, but mostly from itself
Walt Bettinger boasts of 'hundreds of new accounts daily' for Schwab Intelligent Portfolios then fences with Wall Street analysts who beg details

Friday 4.24.15
Thomas Peterffy: The acquisition of Covestor is a positive development toward making Interactive Brokers the premier global platform for investors, advisors, hedge funds and money managers to find each other.

Covestor becomes latest robo site to sell out and become a bauble on bigger chain
Interactive brokers buys the New York-based SMA-robo that has struggled to gain assets

Friday 4.24.15
Eric Poirer [r.] with Joe Lonsdale: There are 10 or 20 custodians just for a mid-sized RIA. It's just a giant mess.

Addepar lays out world-fixing vision and rolls out upgrades at swanky The Battery event in San Francisco
RIAs got the '$120-trillion' pitch straight from Joe Lonsdale and Eric Poirer, who say they are unveiling new software that will speak the same language to the Tower of Babel that is the RIA industry

Thursday 4.23.15
Eric Clarke [far l.] listens raptly as Simon Roy [far r.] touts Jemstep, then inks a deal with him over cocktails. Also pictured: Trizic founder Brad Matthews and Upside user, 'Downtown' Josh Brown

Orion and Jemstep form first big marriage of non-robo and robo software -- at advisor behest -- to create RIA e-commerce
The Nebraska-based conventional provider and the Silicon Valley whiz-bang, with Salesforce and TD Ameritrade as common bonds, found it easy to partner with each other

Wednesday 4.22.15
Bill Crager: Financial planning creeps closer to us. We'd like to build or be strategic.

How it is that the new, new thing in financial advice is an old, old thing retreaded and vastly improved
Financial planning software is hot everywhere you look, from the M&A market to the robo pipelines, driven by a reframing of its very reason to exist

Tuesday 4.21.15
Mark Casady has a new beard but his firm's views on fiduciary rules may differ from FSI by more than a whisker.

LPL reconsiders FSI as it drops out of its board, offers own DOL stand and hires own lobbyist
The giant IBD-custodian breaks from Financial Services Institute pack with pro-DOL statement as FSI posts more negative view on Labor Dept.'s 'fiduciary' definition

Thursday 4.16.15
Matthew McGinness: A lot of advisors have grown rusty in engaging clients.

Envestnet gets Matt McGinness as it launches an advisor consulting division
The problem for the Chicago outsourcer is that its insourcers are stung by 2008 and operating in suboptimal fashion

Wednesday 4.15.15
Charles Goldman carries on the kind of side conversation that makes the Tiburon CEO Summit wheels spin.

Top RIA takeaways from my trip to New York City and my stop-by at the Tiburon CEO Summit
My trip spanned Midtown (Envestnet), the Flatiron District (Betterment) and Wall Street (periphery of the Tiburon CEO Summit)

Monday 4.13.15
David Canter and Marty Bicknell have expanded a growing partnership between the Boston and Leawood, Kan. firms.

Marty Bicknell and Fidelity enter into the mother of all cross-RIA referral deals
What the Mariner CEO promises the Boston giant is that the 'S' word -- segmentation -- will only apply to advisors, not clients

Thursday 4.9.15
Jon Stein: It's basically a nonevent. I don't think they're going after the same customers.

Schwab's robo launch stimulates sign-ups at Betterment and Wealthfront -- and itself
Schwab Intelligent Portfolios' wake is lifting the fortunes of independent robos, say CEOs gathered in Manhattan for the Tiburon CEO Summit

Wednesday 4.8.15
Kings of RIA custody Mark Tibergien. Bob Oros, Tom Nally and Bernie Clark in a panel moderated by Sterling Shea -- and a pesky mobile app

How an iPhone app cut through stilted questioning at Barron's RIA custody panel in Scottsdale
Sterling Shea invited advisors to vote on pressing RIA questions via iPhone -- and they acidly asked Bernie Clark whether Schwab is robo-competing against them

Friday 3.27.15
Chris Daniels [no photo exists online]: It hasn't been done before because it's more of a marketing challenge than a technology challenge.

Why EF Hutton's rebooters took the arse-backward tack of selling public shares and buying a brand before developing a product
CEO Chris Daniels is betting the brand's 20th century fame combined with 21st century digital technology -- and a Nasdaq listing -- will translate into success

Thursday 3.26.15
David Giantasio: ['Blue' explains its mission] in measured tones that make me believe it would really rather kill all humans!

Trade publication critiques the inhumanity of Schwab's robo advertising
AdWeek notes the Blue's oh-so-calm, 'kill-all-the-humans' voice

Tuesday 3.24.15
Bernie Clark: We have been working closely with advisor groups over the past year to shape our offer.

Schwab makes thousands of its RIAs subject to fee for robo-software, allocation of client cash to Schwab Bank
The San Francisco firm told RIAs on a webcast that their firms must have $100 million on account or pay for robo-software

Monday 3.23.15
Ajay Gupta: I knew the book was going to be a success. I didn't know that three months later it would be on its ninth printing and still be a New York Times bestseller.

Swamped by Tony Robbins' referrals, Ajay Gupta launches national venture with Jemstep and United Capital as notable partners
The UBS breakaway mentioned in the self-help guru's book is now calling on RIAs nationwide to share the referral wealth

Wednesday 3.18.15
Mike Durbin: We're clearly serious about being a technology company in the arms race but not necessarily to the exclusion of other third parties.

The mission-critical task Abby Johnson has entrusted to Mike Durbin regarding Fidelity's RIAs and automation
The Fidelity CEO's move reflects a paradigm shift for RIAs, for the whole company

Monday 3.16.15
Adam Nash's blog broadside features a photo of Chuck Schwab from his company's 'David' days of taking on the Merrill Lynch 'Goliath'

Adam Nash makes direct 'CEO-to-CEO' plea to Schwab to rethink its robo
In a blistering blog entry, the Wealthfront chief executive expresses outrage at the Schwab robo's ADV contents -- and gets an earful back from the San Francisco giant

Wednesday 3.11.15
Karin Risi's 18-year Vanguard tenure got afterburners when she made the firm's de novo RIA zoom.

Vanguard Group's econo-RIA chief will now report to her CEO as unit hits $5 billion, gains steam
Bill McNabb wants a direct line to Karin Risi as Vanguard Personal Advisor Services hits $5 billion of AUM

Tuesday 3.10.15
Bob Oros has climbed about every rung on the RIA ladder

Bob Oros jumps to the top 'RIA' spot at Fidelity
With Mike Durbin taking a new day job at the Boston giant, the sales journeyman of Schwab, LPL and TCoA fame gets a coveted title

Thursday 3.5.15
Stuart DePina:  All that plumbing is there but it's not what the end investor sees. This Upside technology is the last mile

Envestnet buys baby robo-advisor to add 'last mile' to its grown-up platform
Upside will cast its lot with the Chicago outsourcing giant in Sunnyvale, becoming the first robo to get consolidated

Monday 3.2.15
This little piggy went to market forces that made allies out of Twitter foes, Mssrs. Kitces and Stein

After famous Twitter feud, Jon Stein and Michael Kitces make up and join forces
As XY Planning Network hits 61 members, its co-founder bets that Betterment Institutional is the best platform for his mostly younger RIAs

Monday 3.2.15
Mark Casady: I think one or two of these robo-advisors will survive.

Mark Casady settles the question of whether LPL will start its own robo-advisor
In the wake of the aborted NestWise effort and a quieter robo rollout by his firm, the LPL Financial CEO doesn't buy the economics of the opportunity

Thursday 2.26.15
Jon Stein: Every month is bigger than the last.

On strength of $1.4 billion of AUM and 90 RIA clients, Betterment raises $60 million of VC funding as it looks to disrupt RIA custody
The New York City-based robo added $1 billion in 11 months and (sources say) has bigtime RIAs contemplating it as a primary platform, CEO Jon Stein says

Thursday 2.19.15
Edmond Walters: We've integrated MoneyGuidePro. People say they are our competition. We don't care.

What to make of Fidelity Investments paying $250 million out of the blue for eMoney
The price paid is about right, experts say, but in the hands of the giant, it could be worth more -- or less

Thursday 2.12.15
Eric and Todd Clarke: We are wired to engage in the battle. We enjoy doing it and we want to keep doing it.

Boston firm buys Orion Advisor Services as part of NorthStar succession deal
TA Associates is acquiring a majority position in NorthStar Financial, which also owns CLS Investments and Gemini Fund Services

Monday 2.9.15
Peter Hess: I don't think [our clients will] notice anything except more services coming down the line.

How SS&C muscle might be just what the Black Diamond and Advent Software doctor ordered
The portfolio accounting provider to giants like Voya, Barclays and New York Life may finally get Advent into the cloud and crack the alternatives challenge

Tuesday 2.3.15
Bill Stone: We think there's a tremendous opportunity to cross-sell.

SS&C buys Advent for the Geneva crown jewels so what happens to Black Diamond and Advent Axys?
The Windsor, Conn. software roll-up wants blue chip asset managers, opening the door for a spinoff of RIA software

Tuesday 2.3.15
Andrei Cherny: We're trying to bring the investment product relationship online. I do think it harks back.

New robo-advisor, Aspiration, gets ex-eBay head as backer and 40,000 on 'waiting list'
The pay-what-fees-you-want format and $100,000 maximum investment stand out along with its impact investing angle

Monday 1.26.15
Cardale Jones has already earned one CFP.

Passing on the NFL draft, Cardale Jones has a better idea: Study to become a financial planner
The Ohio State quarterback won the National Championship, humiliating the opposition, and doing it all after being relegated to third string

Friday 1.16.15


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