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Kelly

Kelly O'Mara

Reporter

kelly@riabiz.com

Kelly is the latest addition to the RIA Biz team, coming on board in the spring 2012 after working as a local news reporter for the last few years. She finds financial news more interesting that following small-town police cars around. Along with RIABiz, Kelly writes for a number of running, cycling and triathlon magazines.

Based in the San Francisco Bay Area, Kelly also spends a lot of time running, cycling, and racing triathlon. It's always nice weather in Marin County.

Articles written by Kelly O'Mara


Libby Cherrington (right) and Krista Dunton have two kids and have been married almost five years.

How Morgan Stanley and a lesbian super-producer came to grief in South Carolina and why she alleges bias
The wirehouse's response: Libby Cherrington is using the gay issue to distract from a $6.7 million loan that has gone unpaid by the AIG rep

Tuesday 4.15.14
Rob Foregger left Personal Capital to found NextCapital, which has a rare attribute -- big managed assets.

How one 'robo-advisor' got $25 billion on its platform with a Mint.com mindset, 401(k) friendliness, a merger and 16 years of work
NextCapital has deals with Barron's, Dow Jones and Russell Investments as part of a brick-by-brick history in a put-up-your-robo-shingle world

Monday 3.31.14
Mike Paulus (r.) being interviewed by Bill Winterberg: It was a very long and smooth transition. (photo courtesy of Winterberg.)

The face of Addepar leaves the company amid intrigue about just where it stands with the RIA market
Mike Paulus was company president during its formative time and exemplified its faith in youth

Monday 3.24.14
Justin Richter: I wanted to avoid the tortured stares of my older colleagues, who went into investment banking and sold their souls.

A 32-year-old Kansas advisor -- at all upheaval costs -- followed his mentor to Mariner Wealth Advisors
Losing clients and leaving money on the table are risks that more young advisors are willing to take, especially with social media as a viable workaround to the non-solicitation straitjacket

Thursday 2.27.14
John Rourke: I've never seen a more wide-open industry.

VC-backed RIA CRM firm bursts onto the T3 scene looking to knock off Redtail, Salesforce etc.
Gotham Tech Labs seeks to blur the line between CRM and social media -- for a bargain

Wednesday 2.12.14
Trey Tune: It's the right place to build a business in the private client space.

How an Alex. Brown spin-off grew to be a $46 billion RIA and how a Brown Brothers breakaway fits in to its plan for accelerated growth
The Baltimore-based firm, Brown Advisory, will invade Bank of America's hometown with an up-to-date investing approach and Old Money flavor

Wednesday 2.5.14
Bill Rourke: If we don’t do this, we don’t get the business.

How Ric Edelman's bounty of radio and TV leads pushed his $12-billion RIA from Microsoft to GoldMine to Salentica
The secondary effect was a muscle flexing that brought about a TD integration with Schwab's gritted-teeth blessing

Tuesday 1.21.14
Charles 'Chuck' Schwab seems to be betting that Merrill Lynch won't try 'accountability' in its line-blurring ads

How Schwab is calling out wirehouses with its 'accountability' blitz and what collateral effects could hit RIAs
Chuck's new money-back guarantee sends a 'shot across the bow' to wirehouses but Schwab RIAs won't be untouched

Thursday 12.26.13
Stuart DePina: It's not as streamlined when you're using two systems.

Envestnet increasingly cuts Schwab out of its RIA software mix and 39 RIAs are leading the way
As new owner of Tamarac, the Chicago outsourcer has its own portfolio accounting, not Schwab PortfolioCenter, as the guts of its mini-ecosystem for the first time

Wednesday 12.11.13
Stuart DePina: They wanted to find a reach into the RIA channel and they placed their bet on Tamarac to make that happen.

Envestnet struts upmarket stuff by signing a $1.5-billion, a $3.3-billion, a $2.3-billion and a $4-billion RIA to big technology deals
Post-Tamarac acquisition and bolstering, the Chicago-based king of SMAs to IBDs poached accounts from the likes of The Colony Group, Henssler Financial, Laird Norton, RegentAtlantic from legacy RIA providers

Monday 11.25.13
Andy Gill: We believe we'll continue to attract affluent clients at an accelerated pace.

Schwab drops pretense: $2-million clients its staple branch diet in bid for fresh $2 trillion
The San Francisco-based broker has named its composite perfect ideal client 'Tobin' -- representing a graying, masculine entreprenuer

Tuesday 11.5.13
Josh Brown -- right -- with partner Barry Ritholtz: Our message of simplifying your portfolio, passive investing, and putting the bulk of assets in index funds gets a little fuzzy when on the other side of the wall they're pitching hedge funds.

Mystery solved: Josh Brown and Barry Ritholtz start RIA -- or is that actually where the intrigue begins
After a couple of years of 24/7 tweeting and blogging, the duo is poised to scoop up talent on the cheap, keep it simple and dare to offend but experts say they also need to avoid 'talking heads' syndrome

Friday 10.11.13
Jason Wenk says he brought in 105 prospective clients through blogging last month. 'No one could keep up with that.'

How a 33 year-old advisor ditched the Midwest for California and used mad blogging and SEO skills to hijack annuity-bound web traffic to propel giant growth
With $40 million and counting in new business this year alone, Jason Wenk expects to double his AUM by year's end in part by mining clients' keyword gold

Wednesday 10.2.13
Michael Zeuner, Maria Elena "Mel" Lagomasino and Santiago Ulloa believe they're through the start-up phase of W.E. Family Offices.

GenSpring offshoot poaches four more as it reimagines the service model for UHNW families
With new talent from Bessemer, HSBC, the SEC and -- of course -- GenSpring, W.E. Family offices is betting that putting the client back in charge is really the way to go

Monday 9.23.13
Greg Mech: Increasingly, there's an overemphasis on cross-selling and a lack of transparency in [the wirehouse] space.

How a $2.5 billion Boise RIA will use Merrill Lynch's former SoCal overseer to win the over-sunned of The OC
The former Bank of America market president stepped back into the industry after a two-year hiatus following an epiphany and will be recruiting families, not his former flock of brokers

Monday 9.9.13
Esther Stearns:  I remain committed to that mission.

Why exactly LPL Financial nixed NestWise and how OSJs, once again, may be wagging the big dog
The event is eerily similar to BloombergBlack's full stop, one analyst says, but LPL's story has its own twists, it seems

Tuesday 9.3.13
Shawn Carpenter: We preemptively raised capital to take advantage of the growth we are seeing with advisors, hedge funds and portfolio managers.

Morningstar takes a big stake in a startup gunning to be the Bloomberg for RIAs
Flush with $8 million in VC dollars, YCharts is betting that its data feed and content can challenge the Bloomberg behemoth by filling a hole for wealth and hedge fund managers

Tuesday 8.13.13
Maria Elena Lagomasino: The road to hell is paved with good intentions.

One special GenSpring spin-away (the old chief's new venture) is thriving as a $1.6-billion RIA and using a retrofitted stock broker's trick
Miami's Mel Lagomasino, former CEO of J.P. Morgan Private Bank, (and GenSpring) will be a family office that eschews asset-based fees, discretionary assets, commissions and even -- going forward -- its international emphasis

Sunday 7.7.13
Vince Lowry: It's worth noting that we have gotten little resistance on fees.

This $9-billion Philly RIA is launching an ETF company financed by Chinese private equity
Vince Lowry, an ex-cop and Smith Barney managing director has made a big bet on Chinese ETF market that's mushroomed from $12 million $38.8 billion in the last decade

Friday 6.21.13
Alan Markarian: We're the largest commercial bank focusing on this need.

How U.S. Bank appeared on the scene as an RIA custodian and where it might find love
Though the brand seems to scream out Generic Retail Bank, its Cincinnati RIA unit see room to wrest share from bigger, more faceless banks and the smaller brokerages

Tuesday 6.11.13
John Stuart: We're replicating the wirehouse portal.

One RIA's bid to make the technology that makes it possible to use one password
Beverly Hills Wealth Management wants to eliminate the downside of open architecture

Wednesday 5.29.13
Martin Smith: We never considered this investigative in the sense that it wasn't information that was already out there.

Why the industry needs to accept some blame for 'flaws' in PBS Frontline's 'Retirement Gamble'
The PBS report was slanted, simplistic and went in for shock value, say critics, but some in the industry say too-high fees are in fact the root of the problem

Wednesday 5.15.13
BloombergBlack, which registered as an RIA with the SEC in 2010, has 33 employees, including former branch managers from TD Ameritrade and Fidelity will occupy a few square feet of this building.

What is up with Bloomberg launching an RIA, BloombergBlack, and hiring a bunch of ex-TD, -Fido and -Schwab folks to staff it?
It's not clear how this fits in with Bloomberg's bigger plan and the effort seems a little tentative but the data giant has resources

Wednesday 5.8.13
Geoffrey Clauss: I'm coming in to help scale this.

Addepar hires an Advent talent to help head sales, an ex-Lehman exec as COO and an ex-Merrill Lynch strategist
Geoffrey Clauss, Eric Poirier and Caroline O'Mahony all took pay cuts to help position the firm to gobble serious RIA market share

Friday 5.3.13
Ed O'Brien: Any of the custodians could probably put together an offering like this ...  but they haven't.

Is Fidelity's move to put RIAs deeper into the cloud gonna make it rain?
'First to market' crows Fido. 'Not even close' counter other custodians. But one expert says the Boston-based firm's one-click platform could change everything

Wednesday 5.1.13
Joan Warner: It's an incredibly crowded field. FA IQ is not going to do everything.

Why Financial Times is starting an online publication for financial advisors and what to make of it
FA IQ, with REP. vet Sydney LeBlanc aboard, joins Ignites and FundFire in publishing for niches in the financial advisory business

Monday 4.22.13
Kelly O'Mara:  I should have been long gone.

What RIABiz reporter Kelly O'Mara experienced running the Boston Marathon yesterday
The bombs going off brought back childhood recollections of the 1996 Olympics in Atlanta

Tuesday 4.16.13
Jesse Mark: The RIA channel is probably the most sophisticated of the distribution channels. [Wholesalers] need to be able to speak at the level of that RIA.

How RIAs are forcing mutual fund wholesalers to lead or get out of the way
Numbers of internal salespeople are fast on the rise as the old-model external forces hit a plateau, according to Ignites research

Tuesday 4.9.13
Bo Dong: We actually are helping Advent, not so much taking business away. Otherwise, you probably would have jumped.

How two ex-myCFO guys are winning big RIA clients by using a pilot fish strategy to win Advent clients without harming the host
WealthSite is a no-name, but its customers are not, and it's winning by skimming the performance reporting off the top of Advent and PortfolioCenter accounts

Thursday 4.4.13
Darin Pastor: I don't think anybody's going to offer what we have.

Why exactly a $1-billion LPL advisor thinks he's the guy to buy and turn around the Phoenix Coyotes?
Hockey lover Darin Pastor's plan revolves around making Glendale, Ariz. people happy -- and applying managerial smarts that produced serial business successes

Wednesday 4.3.13
Andy Rachleff: We're trying to build a business that attracts tens of billions or hundreds of billions of dollars.

Wealthfront raises a cool $20 million from VCs to pursue a big slice of a $1 trillion market
The Palo Alto fast-grower brought aboard a LinkedIn veteran who played a role in the 20-million- to 200-million-member jump; a VC tells how he 'leaned forward in his chair'

Friday 3.22.13
Jeff Chiappetta: The most common thing advisors use options for is to sell a covered call. A covered call generates income in the immediate term.

TD, Schwab and Pershing RIA units embrace mini-option mania to hedge Google, Apple, ETFs
Options have a gambling aura but some advisors find that the are quite the opposite when used with care

Wednesday 3.20.13
Hardeep Walia: These are crazy ideas, but they work.

A Microsoft alum stomps into the RIA business with $26 million in VC money, Sallie Krawcheck and a 'new' approach that looks old to skeptics
The Motif plan is monetize ideas, but other firms say they've been there, done it -- and found tepid interest

Monday 3.11.13
Shiyan Koh: It's like a dating website for advisors.

NerdWallet's lead generation website has 20 Bay area advisors in beta, MIT, Wharton, Brown and Stanford folks running things and a Silicon Valley confidence
For Ask a Financial Advisor, the medium is the (video) message and the specializations include Lutherans

Tuesday 3.5.13
Frank Zecca: We do so much for our athletes. We don't have a lot of time to figure out how to run our business.

How exactly a sports super agency plans to use Dynasty Financial to extend its dominance to the RIA business
Octagon has 800 employees, Michael Phelps and the like as clients but it wealth management arm is not so major league, yet

Tuesday 2.26.13


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