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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


Jud Bergman: So, you're basically asking if you need a quart of milk, why did you buy the cow. Is that what you're asking, Chris?

Envestnet stock skidded 35% -- so will it force a rethinking of the Yodlee deal?
The Chicago-based outsourcer's bid to increase shareholder value hazards a counterproductive outcome

Wednesday 8.12.15
Anil Arora: There’s an enormous transformation going on in financial services, and we’re going to accelerate that.

Envestnet buys Yodlee and its treasure trove of 'permissioned' data by selling its vision of the future of financial advice
The Chicago overachiever's deal is its third Silicon Valley acquisition overall, and second this year

Monday 8.10.15
Brooke Southall: Our business cards, inert in their boxes, are still our main print product.

RIABiz turns six, with plans to keep riding an ever-swelling RIA wave
The Mill Valley, Calif.-based website strives for a new journalistic model, based on old-fashioned values, to cover an advice industry going through a parallel set of changes

Friday 8.7.15
Walt Bettinger: Building a B2C brand is incredibly expensive, as we all know, and difficult. Takes many, many years, but ultimately we think we are looking at a tool.

In a six-month-mark reality check, Walt Bettinger recasts Schwab's retail robo-advice as a 'tool' -- but a handy one
After the mini-Manhattan Project of Schwab Intelligent Portfolios, its CEO is showing a fuller hand of cards that goes way beyond B2C

Wednesday 8.5.15
Mark Mandich: Curian has determined that it is no longer commercially positioned to provide clients high value investment programs.

Following 'irregularities' Mark Mandich says Curian Capital will close its doors in 2016
In hindsight, the $11-billion Denver TAMP had made some moves like removing key managers and installing interim ones in the wake of troubles its parent entity referred to US regulators

Friday 7.31.15
Terri Kallsen: We need more feet on the street.

Schwab's big reveal at its July update: Goal to hire 1,800 financial advisors and unpause branch expansion
Newbie Terri Kallsen gets the Bettinger nod to spend big on doubling advisor force and growing branch count to 500

Friday 7.24.15
Dave Welling will now get his crack at giving Advent Axys a clear way forward.

SS&C's first big act as Advent Software's new owner is to put RIAs using Axys and APX under Black Diamond
Pete Hess will be the asset management czar and David Welling will rule all things RIA in the new framework

Thursday 7.23.15
John Copeland: We hope to bring a permanence to these boutique firms.

AMG's deal for $7-billion myCIO will give it $32 billion of AUM and its 12-billionth dollar of acquired assets in 2015
The RIA founded in 2005 made out of spare parts of E&Y and PWC needed a blue chip succession plan from the Beverly, Mass. asset management roll-up

Monday 7.20.15
Tom Lydon: They'll do well with this partnership.

How DFA is putting its John Hancock on the ETFs category
The deep-in-Texas manager is lending index help to the Boston giant but dodging cannibalization and channel conflict

Wednesday 7.15.15
Bill Gross: The fact is that derivatives on a systemic basis represent increased leverage and therefore increased risk – presenting possible exit and liquidity problems in future months and years.

Bill Gross jabs what he sees as PIMCO's potential doomsday strategy of using derivatives to boost liquidity
The founder of the Newport Beach bond giant says his former firm's supposed practice is just another form of leverage that would increase velocity of the unravelling process in the event of a run on assets

Wednesday 7.8.15
If Focus Financial has an IPO, the vultures may feast first, best.

Report: Focus Financial is preparing SEC paperwork for its initial public offering -- but is it jumping the gun?
With $325 million in revenues, the jumbo New York roll-up seeks to assuage a host of liquidity challenges

Tuesday 7.7.15
Jim Herbert: They align with and complement our existing wealth management capabilities.

First Republic buys an eight-year-old RIA for $115 million
The BoA spin-off gets Paul Tramontano's Constellation Wealth Advisors and its $6.1 billion of assets

Wednesday 6.17.15
David Welling: eMoney has undergone a transformation from planning to a platform. We want Black Diamond to be your platform.

Black Diamond partners with MoneyGuidePro to create a turnkey product
David Welling also adds Salesforce, Redtail and Junxure to a bundle that mimics Tamarac and Orion in creating foolproof integration

Monday 6.15.15
Tom Bradley and Tom Nally may now have a relationship of coopetition

With Tom Bradley heading a new high-net-worth effort, TD Ameritrade will compete with RIAs, at least obliquely
The Omaha-based broker will use the ex-RIA chief to go after $1-million-plus accounts

Friday 6.12.15
Kate Aronowitz: Millennials are the people who try things first. They have a higher bar for design but I don't think you choose one [demographic] or the other.

After Schwab and Betterment catch up to Wealthfront's AUM, the Palo Alto robo pioneer makes a stunning hire
Facebook's former design chief will use millennials as an acid test but she's designing for a broader market

Friday 6.5.15
McKinsey & Co. might not know everything but its office location map shows it is omnipresent.

McKinsey: Robo-advisors have a cloudy future but 'virtual advice' delivered by 24-hour super-centers with experts and algorithms will win the day
Using ChinaTrust’s 'Air Financial Advisor' and Itau’s 'Personalite' service, Schwab -- even E*TRADE -- as examples, the global consultant says the future will splinter 'digital' and 'automated'

Tuesday 6.2.15
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


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