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Content tagged "Nexus Strategy"



Jerry Chafkin: The old [formula for managing investment risk] is less than fully baked.

AssetMark keeps to the ex-Schwab theme, tapping Jerry Chafkin as chief investment officer
After a prolonged search, Charles Goldman hires the former CEO of $240-billion AUM Natixis, president of Charles Schwab Investment Management and Yalie

Wednesday 9.3.14
Talking to Chuck is likely going to cost you a few thousand more.

Schwab Private Client edges its fee closer to the classic RIA standard
Schwab Private Client jacked its price 20% and its minimum fee jumps 60%

Friday 7.4.14
Tim Welsh: You know the gig is up. That's their core competency.

Bloomberg: BoA's market-making unit for its Merrill Lynch wealth division gets suddenly scrapped
The news and data giant is reporting that heat from Flash Boys made the investment bank think twice about conflicts

Thursday 5.22.14
Natalie Wolfsen steps into a position tailored to her marketing and product-management strengths

Natalie Wolfsen is leaving New York to reunite with Charles Goldman out West
The ex-Schwab, ex-Pershing product exec assumes Myra Rothfeld's duties and then some

Tuesday 5.13.14
Cathy Clauson will act as the connective tissue between sales and the C-suite.

Charles Goldman recruits his one-time Schwab leftenant to be his right-hand woman at AssetMark
Cathy Clauson fills newly created position related to TAMP sales

Friday 4.25.14
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
Tom Valverde's hire is part of Fidelity's new 'geographical' sales strategy.

Fidelity Institutional bags Pershing's RIA sales chief and gives him a lesser title
The prize is Tom Valverde who Pershing replaces with Ben Harrison

Thursday 4.17.14
Walter Bettinger and Charles Schwab: It is time to treat the cancer aggressively.

Chuck Schwab and Walter Bettinger issue call to squash flash traders but RIAs question hysteria over the issue
Calling robo-traders a 'cancer', the Schwab execs lash out while Norm Boone and other advisors question whether this is a battle to pick

Thursday 4.3.14
Joe Mansueto sees the buy 'particularly bolstering our offerings that support an advisor’s workflow.'

Why Morningstar's purchase of ByAllAccounts might be a bigger deal than its paltry $28-million price tag shows
The Chicago firm becomes the king of charging for held-away assets facilitation and has a view into the data of its competitors

Wednesday 4.2.14
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
Matt McGinness long had the power of the pen and now has power, period.

Adam Antoniades names Matt McGinness as his replacement as CEO of First Allied's $4-billion RIA-TAMP to launch new business line
Long an RIA researcher at Cerulli and LPL, McGinness makes a big leap to turn the company's internal corporate RIA into an outward-facing TAMP

Tuesday 3.11.14
David Welling: The large firms are starting to outsource. I feel like the momentum is building. We're in a great spot.

Black Diamond blows the lid off asset growth in Dave Welling's first year in charge
Assets jumped about 65% and the former Schwabbie says that growth is accelerating

Wednesday 2.26.14
Departed Schwab retail advisors protested the firm's termination policies on the first day of IMPACT.

Schwab IMPACT 2013 is another great bash but picketers and Fidelity siphoned off some precious RIA attention
Attendees were greeted by disgruntled ex-Schwab advisors chanting 'Find out how Schwab terminates' and Fidelity's RIA campaign jumped out at you on every sidewalk

Thursday 11.14.13
Mike Durbin: I won't be threatened until one of these folks wakes up and decides to be a custodian or a clearing firm. I don't find that to be a near- or medium-term risk.

Part II: RIA custodians' answer to challenges to their monolithic control: We still have big-time scale advantages
Roll-ups and other mezzanine firms are squeezing RIA custody margins as a value proposition but the big-brand custodians -- and some new ones -- are liking the cards they have to play

Monday 11.11.13
Bill Crager: New chapter, full speed.

Envestnet goes back to its un-marketing marketing approach as Marion Asnes (mostly) leaves and her CMO spot gets deleted
On fire, Envestnet will still 'market' through conferences, advertisements and the like but with a more decentralized command structure

Tuesday 9.10.13
Sal Zambito: Many times these RIAs are large organizations but they haven't put a true business team together.

LPL Financial tells its faithful in San Diego that a fuller-service, more dependent model will get corporate support
With Philip Palaveev overseeing the project, LPL is working to install more management expertise in the crazy-growth OSJs it both supports and competes with

Thursday 8.22.13
Jon Patullo: This isn't endorsing the [software] firm.

How TD Ameritrade is playing the logo game to spur 4,000 of its wavering RIAs to adopt its third-party hook-ups
'Veo Integrated' is a clunky name for smooth hand-offs of data from custodian to vendor to RIA -- and back

Wednesday 7.24.13
Peter Wheeler: There's a one in a billion chance that something like this would happen twice.

RIAs get hit with data losses held at small RIA-owned firm that, in turn, blames giant Amazon for lack of backup and for selling its space
Bad luck and the Seattle web giant's too-porous cloud technology vexed ElevateCDS, its owner says, but RIA tech experts say perhaps more care was owed to virtual belts and suspenders

Monday 6.10.13
Roger Shaffer: At first, I was looking for an option that didn't exist.

Why Roger Shaffer happily agreed to become a 'HighTower' advisor without getting paid for his practice
After two decades at Merrill and then SunTrust, the Atlanta advisor finally found the right admixture of autonomy, open architecture and paternal assurance

Tuesday 6.4.13
Mark Tibergien: It's been a dream of ours.

Pershing and BNY Mellon unveil a unified, 'dream' RIA and bank custody unit
The idea is to create one service experience for assets held in both bank and brokerage accounts under a single advisor -- with Mark Tibergien calling all the shots.

Friday 5.17.13
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
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
Mark Hurley: The middle ground [of tweeners] is going to go away and there's a staggering amount of opportunity.

Mark Hurley drops a new wealth management prognosis on the industry with a zero-sum flavor
With the best clients aging, RIA business will be shaped by how about 2,000 'tweener' firms react to fast-deteriorating business conditions

Monday 4.29.13
Roger Hewins: What the heck are they doing for clients to earn this?

Industry leaders puzzled by RIAs' being paid by Schwab and Fidelity for investing in funds
Some RIAs see it as an unacceptable conflict, but the custodians are unabashed about the arrangements

Friday 4.19.13
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
Chris Kojima told FundFire: The RIA business is a smaller part of the assets that AIMS manages, it has more than doubled in the last two years and it is growing

Sparks fly after FundFire reports that Merrill Lynch and Goldman Sachs are offering some RIAs their corner-office research
The Financial Times publication stands by its story, but Merrill won't comment, making the fiery situation smokier; Goldman is unabashed

Friday 3.8.13
Esther Stearns: We are not really recruiting advisors in the sense LPL does. We're training them to become good advisors.

NestWise is starting to take shape and take flight under LPL's wing -- and from under Schwab's shadow
The San Fran-based venture, headed by a former Schwabie, is pioneering technology, mass-affluent retainers and choice of labor pool, for starters

Wednesday 2.13.13
Flash mob dance crew 'The Poreotics' take center stage at the 17th annual industry conference.

TD celebrates its $200 billion tipping point with an exuberant, VIP-rich conference in San Diego
Malcolm Gladwell, Pat Benatar and Condi Rice were on hand as TD served notice it's going after the $28 trillion millennials will soon bring to the table

Monday 2.4.13
Rob Mooney: This is not about Merrill Lynch.

A mini-Merrill springs up with its own broker-dealer and plans to grow
Two former Merrill higher-ups brought aboard two teams of Merrill brokers -- and they're just getting started

Monday 12.3.12
Michelle Draper: Bringing in other custodians to RIA Stands for You is still on the table.

Schwab is set to connect RIAs outside its referral network to HNW investors through its 'Got-milk'-style campaign
RIA Stands for You will use things like digital New Yorker ads, messaging and candid videos with RIAs is funneling down to phone calls from virgin prospects

Monday 11.19.12
Philip Palaveev: Wirehouses would be wise to explore the opportunity to brand the teams alongside the national brand and to create compensation structures that give team captains control over the hiring and compensation of their team members.

The 10 things Morgan, Merrill, UBS and Wells Fargo could do if they really, really wanted to stem the RIA tide
Advisors are happy to hand over the blueprint to wirehouses because they're certain the firms are too fainthearted to execute it

Tuesday 10.9.12
The FPA packed them in

The FPA throws its annual gathering in a spirit of renewal after years of membership decline
The Financial Planning Association aims to rally around the CFP designation, bring in fresh blood and build membership back up

Wednesday 10.3.12
Rich Steinberg: We're essentially hiring ourselves.

A big Schwab RIA in Florida launches a mass-market venture with Placemark and Schwab as the key pieces
Rich Steinberg is using, in effect, his own RIA as the manager to clients of a startup RIA, outsourcing the technology and counting on Schwab referrals

Monday 10.1.12
John Sullivan: At some point, there was no turning back.

Dynasty Financial recruits another field general from the Citi-Smith Barney army
John Sullivan will do some of the heavy lifting from Chicago on advisor service and be a subject matter expert for lending

Wednesday 7.25.12
Oleg Tishkevich: What if we took an employee retreat and brought our clients with us?

Finance Logix makes a splashy bid for RIA business with its inaugural conference in Las Vegas
The coming of Windows 8, the cloud, the massive adoption of mobile technology and tools for retirement income planning were hot topics at the Sin City confab

Monday 4.30.12
E. F. Hutton may need to listen harder than ever to become the fifth wirehouse in an RIA world.

What the reincarnation of E.F. Hutton says about the pace at which RIA business is moving
It's the latest in a series of recent ventures marked by infectious enthusiasm by founders -- and few details about their business plans

Tuesday 4.24.12
Steve Lockshin: We are never going to succeed unless we build a brand.

Steve Lockshin and Charles Goldman begin to unveil Advizent, a venture that could put thousands of RIAs under a single cooperative
The Convergent CEO and ex-chief of the Schwab and Fidelity RIA custody units will refer consumers to advisory firms -- but only after doing an intensive 'audit'

Thursday 4.5.12
Doug Trott: It'd be premature to share names, but we have dialogues going with three of the custodians.

Morningstar gives advisors a glimpse of fees RIAs are charging clients using PriceMetrix data
Price histories of 20,000 advisors are now at the fingertips of many Advisor Workstation users

Monday 4.2.12
Ed O'Brien says CRM is an appropriate hub for an advisor system of technology under certain circumstances.

As WealthCentral surpasses 2,000 users, Ed O'Brien responds to questions about Fidelity's technology system at T3
The head of Fidelity's RIA tech efforts says that the technology is a good fit for breakaways

Thursday 2.23.12
Ben Brigeman is leaving as Schwab searches for ways to boost profitability in its retail business.

Ben Brigeman is exiting Schwab and his position atop its retail business -- perhaps portending bigger changes
The San Francisco-based company will have Andy Gill and John Clendening assume the duties

Thursday 2.9.12
Bob Oros resigned from Trust Company of America on Jan. 17.

Fidelity hires Bob Oros as its new RIA sales chief
The Schwab and LPL veteran leaves Trust Company of America and fills a void left by Scott Dell'Orfano

Friday 1.27.12
Schwab is moving Schwab Private Client completely out of its branches to a remote RIA.

Starting 2012 with a bang, Schwab will place its private client business under a new RIA
The Bay Area firm says it's making the move to avoid compliance clashes with ERISA; others say Schwab's riding the coattails of the RIA movement

Thursday 12.1.11
Mike Golaszewski: I absolutely intend to stay connected to this industry.

After defecting from Schwab a year ago, Mike Golaszewski departs Pershing
The techie helped develop strategies and websites for both companies

Monday 11.28.11
Lori Van Dusen has been thinking about starting an RIA for 20 years but the 'pieces' couldn't be assembled to her liking, until now.

Dynasty Financial wins the account of Lori Van Dusen's new RIA through Focus Financial
The arrangement holds the possibility of a symbiotic advisor-vendor relationship between the wealth management platform and the big aggregator

Tuesday 10.18.11
With Sallie Krawcheck purged, 'the game is about to change in a big way', a former Merrill exec says.

Merrill Lynch brokers brace for sweeping comp changes as Sallie Krawcheck departs BoA and takes her advocacy with her
It's like 2008 all over again with some brokers just wanting out as clients question choice of employer, recruiter says

Wednesday 9.7.11
Mark Benioff: ...So shall we see a Corporate Spring in companies that will be tossing out executives who do not bridge the Social Divide.

Dreamforce review: Social media enters the business cloud and why RIAs should care
Salesforce's annual event was a city in a city for a cult-like following of 45,000, including many financial advisors

Friday 9.2.11
Ed Beggs: Last year we had over 12 million forms downloaded from over 136,000 programmable pages.

Laser App is showing the prosaic business form's sexy side at its San Diego conference
Boring? Making the trip for the App Net event were folks from companies including: Schwab, TD Ameritrade, Pershing, Fidelity, Shareholders Service Group, Orion, Albridge, DST, Laserfiche, Redtail, MoneyGuidePro

Friday 8.19.11
Andrew Salesky: It’s come up many times in the past. The timing is right.

Schwab spells out the details of its franchise plan
The San Francisco broker is making five-year deals with dozens of financial advisors from across advisory channels

Wednesday 6.8.11
The Bellagio encourages gambling but IMCA asks vendors to cool it on the overt recruiting.

IMCA delivers sobering content in high-rolling atmosphere of Las Vegas
Shiller's downer message was tempered by Ben Mezrich; the conference buzz was the Advent-Black Diamond deal

Wednesday 5.18.11
Commonwealth's Todd Estabrook: “This is one of the things that are really important. We believe it’s important to be part of an integrated marketing strategy.”

Cambridge, Commonwealth vault advisors into social media; the boost is mostly free, for now
Will partnerships with, respectively, Socialware and Erado, translate into elusive growth-via-networking?

Friday 5.6.11
Timothy Welsh: The latest mobile financial planning applications from Finance Logix and innovative email marketing tools from Boulevard R were among the coolest developments at the conference.

Eavesdropping on the FPA Business Solutions conference: Mobile apps, web-based marketing -- and how you can make the most of the connected world
At the conference-within-a-conference, advisors explored a tech ecosystem

Monday 3.7.11
Weston's a sleepy suburb but Miami bustles nearby

Eavesdropping on the T3 Pre-Conference Miami Vice-style
South Beach strolling and hustling for integration deals mix in balmy breezes

Friday 2.18.11
Walt Bettinger: The Schwab brand is under-distributed.

Schwab eyes massive branch network expansion using independent operators
Leaner concept could become dominant retail channel for big San Francisco broker

Thursday 2.10.11
Matthias Paul Kuhlmey: We’re in the beautiful position to buy best of class (products and services) nevertheless you need an in-house function to hold it together.

HighTower makes an executive out of a partner to fine-tune advisor access to investments
Former UBS advisor will simplify the bewildering investment-related choices afforded by open architecture

Wednesday 1.26.11
Tim Welsh: As the sun sets and the temperature moves from comfortable to sublime, I start searching real estate listings and help wanted ads on the Blackberry.

What Tim Welsh had to do over Thanksgiving to break the FPA Australia story
Detours through the sunburned land of Oz

Wednesday 12.1.10
Ready to blog after uploading podcasts: Chris Hall (left) coaches students Kimberly Curtis, CFP, and Gary Klaben, ChFC, at FPA pre-conference Web 2.0 Boot Camp.

Eavesdropping on the FPA conference: a speech about scared investors resonates; and an embittered advisor speaks up
Plus, a top expert offers the next level of advice on social media

Tuesday 10.12.10
David Canter: One solution for broker-dealers looking to provide financial planning services in a fiduciary world: Fidelity's WealthCentral platform.

How the FPA's national conference is nudging large firms toward fiduciary care
Merrill Lynch, Morgan Stanley, MetLife and others come as leopards looking to change their spots

Monday 10.11.10
Peter Hess: With 3300 users, Axys is here to stay...that said, the Axys clients I’ve spoken with at the Conference are really excited about APX.

Advent founder urges advisors to steer away from 'disruptive' course of switching systems
DiMarco cautions that a firm's ROI can be imperiled during the intense process

Wednesday 9.22.10
The RIABiz partners are very rarely in the same place at the same time; in fact, this is our first real team photo!

Notes from the RIABiz one-year anniversary party
The spirit of the RIA Business was strong at this backyard event

Monday 8.23.10
Susan Theder: The opportunity was exciting and unique enough to make me think that it wouldn’t come around again – not with a management team and board of directors this strong and an entrepreneurial environment this enticing.

Cetera lifts a high-end talent out of Pershing but can the IBD establish itself as a brand presence among advisors?
Susan Theder left a big job and she is moving cross-country; she'll try to make 'Cetera' stand for more than the old ING Advisor Network in a new wrapper, analyst says

Thursday 7.1.10
Brian Stimpfl: It was the hardest decision of my career.

[Updated] Why Brian Stimpfl left TD Ameritrade and where he is headed
A right-hand man to Tom Bradley takes a mid-career leap

Monday 4.12.10
James Surowiecki: Paradoxically, ignoring these people has turned out to be a great way of getting lots of customers.

James Surowiecki has lessons for RIAs about marketing's mushy middle
New Yorker writer warns against the amorphous marketing blob that GM and Dell succumbed to

Friday 4.2.10
Julie Littlechild: There is so much in this industry about talking. This is about doing.

The FPA's practice management event boasts two hot speakers in its first day
California entrepreneur and NSA star are among the top draws

Tuesday 3.2.10
Joseph Vietri: Check-up calls on wire transfers will continue indefinitely and more safeguarding steps will be added to the program

Schwab won't stop at wire transfer check-up calls in its quest for airtight security of RIA client assets
Top service exec at big custodian says the tumult of the last 18 months led to the escalation of asset safeguards

Thursday 2.25.10
Joel Bruckenstein says it was the final straw when his speech at a big industry conference got bumped into nighttime.

The T3 conference has a rebellious air and the makings of success
Bruckenstein and Drucker channeled their frustration about industry conferences into creating a tech mecca for RIAs

Friday 2.12.10
Tom Bradley: Says TD Ameritrade's conference, long second to Schwab's, now is the industry's  best-attended

Tom Bradley and Fred Tomczyk team up to give forward-looking state-of-the-TD Ameritrade speech
The Omaha-based parent of the RIA custodian is launching a four-year push on technology

Thursday 2.4.10
Matt McGinness: Everyone is working harder for less

Industry consultants grow practices by taking on deadline projects
Industry stars like Inveen, Roame, McGinness and Welsh are increasing revenues by shifting gears

Friday 9.11.09



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