Brooke Southall
Articles written by Brooke Southall
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Tim Buckley sends shockwaves by retiring as Vanguard CEO after adding $750 billion per year during his stay in the executive suite
The 54 year-old lasted just over six years in the job, delivered on targets, but he also made head-scratching decisions and never solved its technology woes
March 1, 2024 at 3:35 AM
'Second to none' Liz Nesvold, enters the PE game and may help give Karl Heckenberg and Joe Duran a run for their money?
The Emigrant Chair fell out with Mark Hurley then lost Karl Heckenberg, but he 'finally' signed the Silver Lane flash to his obvious delight
February 29, 2024 at 5:49 AM
Mercer is hiring ex-Schwabbies like crazy after five-year AUM jumps from $9B to $56B -- with a big bump in the past 12 months -- using 100 IARs who only sell the RIA as chum for M&A
The Denver RIA poached high-level McKinsey talent as CFO and a smattering of Schwab, Fidelity, TD Ameritrade, LPL, and RBC talent to keep up with growth and ambition of late bloomers.
February 27, 2024 at 2:50 AM
Dan Arnold is using force and finesse to make LPL a deal machine -- giving Atria and its brokers incentives to come aboard and Fidelity and Pershing a reason to play ball
The soon-to-be 24,000-advisor Fort Mill broker-dealer will keep existing custodians (for now), pay big retention bonuses and a generous deal kicker to Atria if it all transfers well
February 24, 2024 at 3:35 AM
Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team
The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.
February 24, 2024 at 3:33 AM
On Bill Crager's last CEO call, Envestnet does bad-news dump -- a big Yodlee-related write-off -- but dangles bright future where Tamarac becomes the mouth of its sales funnel
The outsourcer swallowed a $191-million bitter pill, explained the data disaster that led to it, offered minimal forward guidance on results, or a future CEO, but Tamarac RIAs are catching on as SMA clients and imminent RIA custody is deemed 'extremely strategic'
February 23, 2024 at 3:18 AM
Tim Oden departed Schwab after 37 years and was flooded with industry offers, but Shirl Penney made one he couldn't refuse -- a seat at the table
The RIA sales wizard joined Dynasty Financial Partners with understanding he would leave sales behind and earn his keep by focusing on strategic ideas.
February 22, 2024 at 2:20 AM
At T3 event Josh Brown explained how his RIA, Ritholtz, got FutureAdvisor -- and hundreds of millions of AUM -- from BlackRock, along with a daunting software puzzle
The Las Vegas-based session included AdvisorEngine CEO who apparently played a white-knight role in transitioning a complicated robo from the giant asset manager to the outspoken RIA shop
February 10, 2024 at 3:03 AM
Fidelity hits staggering $12.6 trillion in 2023, bids adieu to headhunted retail chief, beats Schwab's performance -- not least because it doesn't own a bank -- and sees Maggie Serravalli's star shine
Retail was Fido's weakest division with 3% growth and its chief departed; it's B2B units -- 401K and custody/clearing -- jumped 6% each; Serravalli now serves as the company’s chief administrative officer.
February 9, 2024 at 5:33 AM
Marty Bicknell grew to $100 billion AUM brick-by-brick, then -- boom -- added an AUA boulder, keeping Mariner Wealth in the AUA game with same-city rival Creative Planning
Mariner Wealth's purchase of two pension consultants with a combined $104 billion in AUA adds fees, services, footprint and a whopping top-line asset number north of $200 billion to keep it interesting in Overland Park.
February 8, 2024 at 2:13 AM
'Portability' is set to boost and solidify $9.3 trillion 401(k) system by eliminating cash-outs, rollovers and fragmented (orphaned) plans
The Labor Dept. finally found the political will to make savers save and create a lifetime mentality -- with a boost from technology to make a decentralized system work in symphony.
February 6, 2024 at 2:53 AM
Charlesbank bets bank on Joe Duran -- 'very risky' by private equity standards -- but the 'Rise' model, capital amid scarcity and a 'Joe' factor have observers high on its prospects
The Boston- and New York-based blue-chip 'middle market' player stakes the Duran 'accelerator' venture $250 million with a view to a killing in a market starved for get-over-the-hump expertise and financing
February 1, 2024 at 4:41 PM
Charles Schwab filed in November under New Jersey WARN laws for October layoffs in Jersey City -- the former TD Ameritrade RIA custody headquarters; the layoffs become official Feb. 5 under NJ labor laws
The Westlake, Texas company disclosed the planned February cuts in a state filing and their relation to big cuts first reported in July, and executed in October
January 31, 2024 at 2:14 AM
Schwab IMPACT is back in San Francisco -- its old stomping grounds -- a boost for the city after Schwab dumped it, and it struggled post-COVID
Pushed to perhaps its latest date ever, Nov. 19-21, the 2024 event will swing from Right Coast Philadelphia to Left Coast 'Frisco, at a venue yet to be announced.
January 30, 2024 at 3:17 AM
Familiar faces -- Bill, Eric, Oleg and Joel -- dominate Day One at T3 but Syntax Data and SoraFinance get their moment -- and Oleg brandishes app marvel
The big companies like Orion, Envestnet and Invent cement the 20th anniversary of the Joel Bruckenstein event with bundle-ism, but green sprouts of new firms are everywhere; the kids get AI
