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


Ken Kaltman: Big is better for the client

As RIA compliance complexity explodes, two big outsourcers merge to keep pace
National Compliance Services Inc. is a biggie with smaller RIAs and Regulatory Compliance LLC already provides ultra-handholding that firms increasingly demand

Tuesday 11.3.15
Mike Durbin: It's an unbundling. That's exactly what it is.

Mike Durbin gets right to work as eMoney CEO with MoneyGuidePro coopetition deal -- even though he's 'interim'
The collaboration of the two sworn competitors and a Fidelity guy in between validates that so-called 'dashboard' technology a killer category with new entrants on the way

Thursday 10.22.15
Joe Piazza: Many advisors will not wait around for the deal to close.

Credit Suisse punts its private banking business to Wells Fargo
The take-my-brokers-please deal has skeptics but shows forethought, too

Wednesday 10.21.15
Eduardo Repetto: It's solving a problem before it exists on the back end.

Dimensional Fund Advisors to launch 13 target date funds but can its RIA 'cult' deliver success?
The Austin, Texas-based fund giant sees a 401(k) opening the size of its home state if Vanguard, T.Rowe and Fido are any indication

Friday 10.16.15
Frederick Pickering:  eRIAs should consider pivoting to a business-to-business model.

Citing Edward Jones as a cautionary tale, Cerulli alerts 'eRIAs' -- i.e. robos -- that they need to be world-beaters just to survive
The Boston-based researcher suggests by 2016 the standalone B2C model will demand net asset gathering $150 million per month -- a figure that will soon balloon to $180 million per month

Wednesday 10.14.15
Tricia Rothschild: We haven't allowed advisors to act. Now when you want to make a trade, you don't need to go somewhere else.

Morningstar buys standalone rebalancer to fulfill its all-in-one vision by getting Sheryl Rowling to cash out and go back to RIA
This way M'star gets to intellectually fuel trades but execute lift-off without an awkward hand-off out of its own software zone

Monday 10.12.15
Corient principals: Clients looked at us with a strange look on their face, saying, 'Well, aren’t you my financial adviser?’

Why a $3 billion UHNW team in Newport Beach bolted Merrill Lynch and what breakaway bugs are reading into it
The alternating carrot/whip spurs for wirehouse mega-teams has the breakaway buggy bolting along

Tuesday 10.6.15
Paul Woolway is making Schwab Bank grow fast with help from RIAs.

Schwab alerts its RIAs that it will liquidate client money market holdings by Dec. 1
The San Francisco-based broker is shipping all cash in sub-$500K accounts to its bank

Wednesday 9.30.15
Co-founder Charlie Kroll started a successful online venture in his Brown University dorm room and appears be the day-to-day operator of this robo.

Relying on men but 'losing sleep' Sallie Krawcheck seeks to robo-reap women investors with Ellevest
Industry luminaries Joe Mansueto, Mohamed El-Erian, Ajay Banga and Robert Druskin -- never mind co-founder Charlie Kroll -- make up a stellar roster of male executives backing this play for women's wealth

Monday 9.28.15
Mike Crinieri: Our clients asked us to apply our investment expertise to exchange traded funds.

The wild ride that Goldman Sachs took to launch its first ETF -- one that even an RIA could love?
Three years of leaking assets in $1 trillion Goldman Sachs Asset Management pushed Lloyd Blankfein to treat the unit like a deal leading to acquisitions, hires and an exchange traded fund strategy

Wednesday 9.23.15
Roger Aliaga-Diaz: We are being more outspoken.

Anything but passive, Vanguard Group chides Yellen for mistaking market static for market signals in leaving rates alone
Roger Aliaga-Diaz is concerned that the Federal Reserve itself stoked market volatility then cited it as a reason to stand pat

Thursday 9.17.15
Schwab is spending on average $1illion to open a branch -- but these aren't your father's discount broker B spaces as this Woodland Hills, Calif. location shows.

Scrutinizing -- and celebrating -- Schwab's plan to build 150 branches, at $1 million per throw, and people them with thousands of home-grown advisor talents
The renaissance involves minting advisors as Schwab's retail chief Teri Kallsen offers up a bold vision of bigger, better branches

Wednesday 9.16.15
David Steele: I still wasn't an entrepreneur in what I was best at. Nobody knew that.

How David Steele opened six restaurants in the toughest foodie market in the US and then found the nerve to leave JP Morgan
The Bear Stearns veteran deliberately chose Uber-, Twitter- and Dolby-adjacent offices in a trendy San Fran neighborhood

Monday 9.14.15
Lincoln Ross: That picture the advisor gets in sitting down with a client changes potentially the moment the client walks out the door.

A long-form explanation of why -- Wall Street be damned -- Envestnet's purchase of Yodlee might make sense
Nothing will deter the Chicago outsourcer from a future infused with data, according to Envestnet strategy chief Lincoln Ross, who'll shoulder the credit or take the blame for the deal's outcome

Thursday 9.10.15
Edmond Walters is making an exit, as bold in nature as his entrepreneurial reputation.

Edmond Walters bolts from eMoney and Fidelity Investments scrambles to manage the jilt
Six months after the $250-million deal, the entrepreneur leaves with no public explanation and Mike Durbin takes his CEO spot for now

Thursday 9.3.15
Bo Lu is said to have parlayed an introduction to Larry Fink into a lucrative liquidity event.

Why BlackRock's purchase of FutureAdvisor for $152 million could be a deal of destiny
FutureAdvisor will nestle into BlackRock's risk management unit armed with iShares while Wealthfront and Schwab favor Vanguard ETFs

Wednesday 9.2.15
Dave Mrazik: This is, without question, a defining moment.

Citing 'Moss Adams' vision, MarketCounsel makes 17th hire in nine months
Quarterbacking the mass assemblage, David M. Mrazik, former general counsel at the New York-based roll-up, becomes managing partner

Wednesday 9.2.15
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

RIABiz DIRECTORY

THE Industry Sourcebook for RIAs

  |   LISTING

FEATURED PREMIUM LISTINGS