Content tagged "Michael Kitces"



Michael Kitces: They compare to every other RIA that meets with clients using Skype -- which is all of us.

Vanguard virtual RIA's growth rate plummets from 50% to 32% with a staggering consolation -- another $10 billion in AUM since January
Now at $41 billion, up from $31 billion six months before, Vanguard gorged on easy cannibalization but classic RIAs are also losing assets to the Malvern growth engine

Tuesday 8.2.16
JB Sullivan: They never talk about 'volatility' when there are wild swings to the upside.

How RIAs took one approach to Brexit and asset managers another -- and why only the latter group has egg on its face
With the markets virtually even with a week ago, asset managers now need to contend with all those already shopworn webinar ideas that followed their inability to predict the Leave vote

Thursday 6.30.16
Jon Stein [to CNBC]: The only thing I would do differently is I would put a notification in the app and say, 'By the way, we delayed trading right now,.

Betterment explains why its Brexit-sparked trading halt on Friday wasn't 'suspended' trading
The $4.8-billion robo-advisor frames its trading actions in terms of discretionary management of assets but the prerogative it asserts puts RIA clients in a tight spot

Tuesday 6.28.16
Bill Winterberg: My attorney, Robert Graziano, has documentation for the numbers, revenue and expenses for all three years of T3 Enterprise.

As legal battle erupts between Bill Winterberg and Joel Bruckenstein, T3's allegedly wild profits from pay-for-play content get dragged into court of RIA opinion
In need of a partner when David Drucker retired, Bruckenstein brought in friendly rival Winterberg on a handshake coopetition deal; now Bruckenstein has Brian Hamburger defending him

Thursday 6.2.16
The author with Mark Tibergien at the Pershing Symposium this week in southern California

After her Stanford B-school classmates rip on FAs at reunion, a stung Min Zhang takes uber north to Pershing RIA event to hear out Kitces, Tibergien and Poirier on the topic
Mark Tibergien, Mike Kitces, Addepar CEO and others in San Francisco show pathway to capturing the hearts and savings of 'bankless' millennials

Friday 5.6.16
Tom Kimberly: It was my decision.

Betterment informs RIA clients of new $2,400 license fee then cancels it, for now, after advisor blowback
During an intense 48-hour period and 'dozens' of conversations with RIA principals, Tom Kimberly capitulated to advisors who say the fee outstrips the features

Friday 4.29.16
Peter Mallouk: I basically said: I've got a bit of a monster here and what am I going to do?

What to make of Peter Mallouk's sweeping deal with Tony Robbins -- and where the unlikely pairing goes from here
After deliberately relinquishing his cherished anonymity, the CEO of $18-billion AUM is using the Robbins deals as part of a larger charge from the bulrushes

Tuesday 4.5.16
Michael Kitces: By definition, you’re answering questions for free from people who would rather type their questions into Google or a free site rather than pay someone.

Michael Kitces blasts Investopedia for squeezing free advice out of RIAs and the advice super-site responds
The industry blogger says the routing of web traffic and its monetization works for the publication, not fo advisor practices

Friday 4.1.16
Neesha Hathi, who spent six years selling the Schwab-Salesforce super bundle, will now need a new pitch.

Schwab gives Salesforce the heave-ho as hub of Intelligent Integration
150 RIAs are scrambling for a new CRM arrangement ahead of a July 31 drop-dead date as the San Francisco custodian unwinds the once exalted partnership

Thursday 3.31.16
Sharron Ash: It's virtually impossible to have an arbitrator's decision overturned on appeal, and suddenly, court may be the much preferred path.

After being jostled by a lawsuit, CFP Board makes bold play to inoculate itself against future ones
Due caution or paranoia? Either way, a sour whiff of FINRA self-protectionism pervades

Friday 3.25.16
Michael Glowacki: You say, 'this is my succession plan' and they say, 'you sold me!'

How Rob Francais is convincing RIAs to sign on the dotted line with Aspiriant -- no money down
The CEO of the $9 billion RIA grabbed nearly $1 billion of AUM from Hokanson and Glowacki with stock swaps

Friday 2.19.16
Justin Wisz: It's the same type of tracking Google has on you and me ... If we had that, we'd have the Holy Grail.

Vestorly makes play for RIA browsers with $4.1 million of VC funding -- tiptoeing past prowling issue
Justin Wisz's robo-marketing for advisors already serves RIAs like Halbert Hargrove but now he's reaching for a higher rung of robotics

Thursday 1.28.16
Vanguard's arid Scottsdale, Ariz. plant, where most Vanguard advisors are stationed.

Vanguard's virtual RIA adds $10 billion in last six-month period, an acceleration to $1.6 billion per month of net new assets
Does Vanguard's Personal Advisor Services' zoom to $31 billion makes it a the 'single greatest threat' to classic RIAs?

Tuesday 1.12.16
David Blanchett: You may need significantly less of an annuity.

Morningstar report suggests jiu-jitsu tactic for buying annuities: Game them right back by waiting
Seniors who pick their moment can save as much as 50% with patience as the key strategy

Thursday 10.29.15
The Boston Convention Center almost upstages its city -- big, bright, modern.

A palpable camaraderie accrues in Boston as FPA provides support group for lonely CFPs and the atomized niche firms that serve them
There were RIAs and IBDs galore -- but no wirehouse reps -- on hand for a much-anticipated robo slug-out between Kitces and Sokolin

Tuesday 9.29.15
Rocky start: Coders -- presumably tamer than the miners who used to stay at this 19th century former hotel in Park City -- were evicted after complaints from the neighbors.

Strung out on Red Bull, and stung by a red-faced landlord, 70 tech nerds and Russian-style judges, Eric Clarke pushes RIA app coders to new limits in Utah suburb
No panels, no PowerPoint no breakout sessions -- just tech whizzes from competing firms striving to integrate their systems to better serve financial advisors

Friday 9.18.15
Ric Edelman: His departure has no impact on the firm's future or our strategic plans.

Ric Edelman and David Bach go their own ways after super-partnership dissolves
After less than a year together, Bach is on a long vacation and Edelman is still pursuing a succession plan

Tuesday 8.4.15
Katie Henderson: We really do believe that the need for advice is growing. This is something retail clients have been asking for as they get close to the pre-retiree phase.

Vanguard's white-hot 'hybrid robo' just added $4 billion in three months -- a heat that may cast a chill on 'pure' robos
Now at $21 billion, Vanguard Personal Advisor Services is cannibalizing as a segmentation strategy and emphasizing new technology that edges it toward a more robo-centric, less call center-oriented model

Thursday 7.16.15
Michael Kitces: CNBC is now literally contradicting the statements of the firms themselves as written in their ADV documents.

Michael Kitces attacks CNBC for its top-100 fee-only list because so many listed RIAs disclose non-fee comp on their ADVs
The New York-based news organization fires back by encouraging a closer reading of its methodology

Thursday 6.4.15
Peter Mangan: If you don't become asset custodians, we won't become investment advisors.

Peter Mangan taunts rival RIA custodians as Shareholder Services Group adds weapons, advisors
San Diego event celebrates emerging advisors and their emerging custodian

Monday 4.27.15
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
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
Tim Buckley stuck to the script until 'Joseph' posed a question.

What Vanguard revealed under webcast pressure about its phono-robo's vulnerability
Already gathering $1 billion per quarter, the index giant holds off on VPAS launch for fears of post-beta traffic overwhelm

Thursday 1.15.15
Kyle Ryan:  Everyone looks at headlines and says they're small and everyone was small once.

The steps Personal Capital is taking to win bigger accounts after a year of 100% growth and 95% of them small fish
This call center advisor is handing out free iPads to its wealthiest clients along with bulk pricing and concierge services that include two human advisors per family

Monday 9.29.14
Walter Bettinger: We are fast at work.

What's up with Schwab getting into the robo-style online advice business and is Windhaven the linchpin?
Walt Bettinger's options for building using existing ETF portfolio capabilities or buying one of the many robos in existence point to a no-lose move

Friday 7.25.14
Marilyn Mohrman-Gillis: Quite frankly, what we're spending is less than half a percent of all financial services' expenditures.

How the CFP Board is getting its $40 million's worth from its advertising campaign and how it isn't
Unaided recognition of CFP certification jumps about 90% in three years ...assets stemming from that, not so much

Thursday 7.24.14
Joseph Saldana: It's like sitting at your house and watching a storm blowing in from the horizon — you don't really know how bad it is until it's upon you.

An ex-Lehman exec with a 2008 crash sideline seat becomes Mr. Inside for the TAMP, roll-up and RIA where Michael Kitces is Mr. Outside
Pinnacle has hit $1.3 billion of AUM and is pushing forward aggressively with hires, strategic plans and offering 'office hours' with the planning research head dubbed 'stump the Kitces'

Thursday 7.10.14
Karin Risi is leading Vanguard's efforts to take on the 'robo' threat -- and the numbers are already on her side.

How Vanguard Group's robo-countering effort got to $1.3 billion of AUM so easily and why its future seems bright
Executed almost shyly, the hints-of-vanilla Malvern indexing giant is the unlikely Silicon Valley nemesis in automated services

Thursday 6.26.14
John Thiel: People are looking for advisors who understand that the retirement conversation isn’t about a math equation.

How Merrill Lynch Clear looks so impressively RIA-like and what shows how deceptive looks can be
The big iPad-laced and rhetoric-laced wirehouse initiative toward goals-based investing may have selling insurance as its primary goal

Wednesday 6.18.14
Michael Kitces: Most of the Wall Street firms will be reluctant to bypass advisors and go direct to investors.

Thoughts on 'robo-advisors' served cold, compliments of Kitces and Waymire
With the potential for channel conflict, wirehouses are the most handcuffed in thwarting automated financial 'advice'

Sunday 6.15.14
Robert Boslego: Commodity businesses have found that the benefits from hedging exceed the costs.

Why RIAs should hedge their fee income to stay aligned with client interests
Clients invest for the long haul and advisors have short-term revenue needs making the AUM model imperfect at best

Wednesday 6.11.14
Mike Kitces: Social media has been so effective for all of my various businesses, that I've added several over the past few years just to handle the capacity.

The 25 financial advisors with the biggest online presences -- and a frank analysis of what online omnipotence does (or not) for them
Brightscope's top-100 social media maven list shows that RIA bloggers, tweeters, Facebookers and Youtubers sacrifice client face time to cater to web consumption

Thursday 5.15.14
Lauren Schadle: Nothing has changed to accommodate MetLife.

The FPA is now brought to you by MetLife, for better or worse
The insurer's cash is the good news but some see it as tainted money

Wednesday 4.23.14
Steve Lockshin: I wrote a big check.

Tiburon CEO Summit extrudes big news: Betterment Institutional is born
Steve Lockshin lays out his plans for TAMP-like venture and how Michael Kitces, a public critic of the Betterment CEO, very much fits in

Tuesday 4.8.14
Michael Kitces: There's very little other ongoing  'work' tied to blogging, once everything is set up.

The RIABiz top 10 industry blogs -- and which bloggers they recommend
The RIA business is a land of micro-niches where owner-operated blogs are often the best reading spot for advisors to find the vibe and the level of granularity they seek on a subject

Wednesday 1.15.14
Frank Troise says he sold his company for $6 million, signed on Loring Ward, The BAM Alliance and seven top hedge funds to receive his referrals.

How Frank Troise is looking to shoot the 'Google Love' moon -- with DFA, VC, crowd-sourcing and M&A aspects -- and why some critics see it as an elaborate salvage sale
The original referral model, MyFreeRetirementReport.com, proved suboptimal when brokers allegedly failed to pay up, and now industry leaders are leery of the new model's practical and regulatory viability

Sunday 10.27.13
Joe Nation: CalPERS typically claims a much lower unfunded liability than actually exists--precisely because it assumes a higher-than-justified investment rate of return.

A careful look into whether CalPERS is ticking along or a ticking time bomb
The $270-billion giant seems more grounded after some investing misadventures, but the unfunded-liability horse may be out of the barn

Wednesday 9.4.13
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
Meredith Lloyd Rice: [Fee proliferation] is a trend but the RIAs are still very distinctive in their attitudes and preferences.

Cogent study shows one big RIA distinction getting swallowed up -- or not
It'll be a head-turner if, in fact, two-thirds of all retail assets are fee-based in 2015, but there may be more to the story

Wednesday 8.7.13
Dan Sievert and Greg Friedman, who noted:I am basically the poster child for every problem in our industry.

The FPA NorCal Conference burnishes its little-gem image with big RIAs and other advisory progressives
700 people pow-wowed at The (respendent) Palace of San Francisco and none of their activity escaped the Tim Welsh watchful eye

Thursday 5.30.13
Bill Crager: The content race will be on and we'll open up a whole new competitive landscape for asset management.

Having won advisor assets, Envestnet's next -- more Google-like -- play is for their smarts
The Chicago outsourcer will soak up and synthesize information from 23,000 advisors and distribute it in real time in an effort to create one big giant brain out of an atomized industry

Friday 5.10.13
Philip Palaveev: Client service expectations are ... more difficult to manage profitably.

Round 2 in Vegas: Finance Logix advisor conference ponders simplicity as sophistication
As the RIA industry matures, first-time buyers are gone and differentiation is the name of the game

Monday 4.29.13
Michael Kitces: We've sparred back and forth on a couple of things over the past few years.

Two firms that have love-hate relationships with RIAs draft their harshest critics to serve as consiglieres
Advisor-rater BrightScope and tech startup Riskalyze draw two smack-talking industry observers into their inner circle

Tuesday 4.16.13
Michael Goodman: If you are looking for a boondoggle, this isn’t it.

The AICPA gets down with advisors in Vegas -- well, as much as accountants can
Michael Kitces, Roger Gibson, Harold Evensky and David Kelly were among the attendees of the rapidly growing conference -- and key tax changes got a close look

Tuesday 2.26.13
Bill Winterberg seems to have set off a social media ruckus with a timely tweet.

Audience remark at Andy Gluck's session at TD Ameritrade pre-event session sets off a tweet chorus
A college student needed two hours to break into an RIA's files and it took only minutes for Twitterati to pass the story along at TD

Thursday 1.31.13
Elliot Weissbluth: A few years ago we had this meeting with just 20 of us in our old headquarters in the basement eating deli sandwiches.

What happened when HighTower assembled its RIAs at Trump Tower
300 aggregated folks dined lavishly and heard Ed Viesturs; and those perks may have a deeper purpose

Tuesday 5.15.12
Pig ugly? The offending image on Betterment's blog post

After outcry, Betterment 86's (but not on purpose) a blog post inflaming advisors
BrightScope and Josh Brown lead charge against up-and-coming web-based investment management companies for their bad-itude against advisors

Friday 5.4.12
Michael Kitces: Now, I actually have a solution we can deliver.

Michael Kitces becomes partner at Pinnacle, ambassador for its new TAMP-like service
Pinnacle Advisor Solutions will provide outsourcing options as an arm of the wealth management firm

Wednesday 3.21.12

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