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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


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
To Bill: There was a time when every time you spoke to the media, it took PIMCO higher and your standing with the media went higher still. Talk about credit creation.

Dear Bill Gross, Please stop crowdsourcing emotional support and making open-ended calls of doom
Your recent writings and media interviews are still infected by your PIMCO dethroning but find a new outlet for venting about that

Tuesday 1.13.15
Brooke Southall: Keep expressing heartfelt, unsanitized views, keep reading other's views, critically but copiously, and keep encouraging this intense unending interchange that is at the heart of what we do and who we are as we live in freedom.

RIABiz takes stock as journalism comes under siege
The recent blizzard of attacks on journalists, cartoonists and moviemakers reminds how precious is the right to give and receive free expression

Thursday 1.8.15
Wealthfront is the robo-advisor most associated with the term -- and with the founder, Andy Rachleff, who hates it most.

What exactly are robo-advisors, why did they steal the 2014 show and what will a 2015 repeat take?
We're talking 500 people, $250 million in capital with identifiable characteristics and 5,000 nervous legacy providers

Friday 1.2.15
Andrew Parish: I am personally disappointed that Reuters chose to print information about my family and personal life.

After hard-hitting Reuters article about AdvisorHUB, the online publication responds, like a sphinx
The gossip and news start-up takes issue with tone, taste and who called whom but also oozes gratitude

Monday 12.29.14
The deer don't mind the un-white Christmas of Maine.

Frozen toes in Maine make a welcome change from California's rains
Remmie the labradoodle and a new angel atop the tannenbaum mark their first Christmas at the Southall 'up nawth' homestead

Tuesday 12.23.14
Doug Wolford: ...That's one of the things that you can do when you put in place a professional management structure, which we're doing in the next five years.

With Convergent experiencing advisor exodus, City National takes greater control of the RIA
Doug Wolford gets a vote of confidence from his City National-controlled board of directors and he references a new five-year plan of creating a 'professional management structure'

Saturday 12.6.14
Tony Robbins will mostly give his generic speech to RIAs.

Tony Robbins prohibits reporters from covering his two-hour MarketCounsel speech
His PR firm says that no-coverage rules are part of his standard contract but the 11th hour heads-up today to journalists on legal points raises confusion

Friday 12.5.14
Tony Robbins was offered an hour but demanded two.

Tony Robbins is set to crash the RIA party with two hours of testosterone
The maestro of motivators became a client of Brian Hamburger and now he is speaking at the lawyer's Vegas conference next month

Wednesday 11.12.14
You can own 10 Dunkin' Donuts locations or one $1 billion AUM RIA

RIAs are ready to make the 'golden hire' and more painlessly add another $1 billion of AUM
The cost of hiring a COO is pretty staggering and so are the potential rewards of solid operational control

Tuesday 11.11.14
Eric Poirer: We have invested tremendously in our culture.

After one year of 'eight-fold' growth, Addepar rotates Karen White out and an ex-SAP exec in
The new CMO, Barbara Holzapfel, will face the challenge of establishing a niche more specific than 'all of the above'

Monday 11.10.14
Doug Wolford: I believe that our full and fast response to this situation will in time become a model for the industry.

Convergent Wealth begins to pick up the pieces after David Zier's death
The $9.4-billion RIA is said to be facing massive challenges in retaining advisors and clients -- rumors discounted by CEO Doug Wolford

Tuesday 11.4.14


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