Brooke Southall
Articles written by Brooke Southall
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Merciless analysts on the latest BlackRock earnings call peppered execs with questions about sub-5% organic asset growth, drawing a bead on Envestnet SMAs -- Aperio, too
Assets soared to $10.5 trillion and earnings per share beat their bogey, but the New York City money manager just keeps sinking because growth relies too much on market gains.
April 13, 2024 at 2:06 AM
James Gorman pivoted to 'wealth management' to save Morgan Stanley after the 2008 financial crisis, but now feds are looking into the unit's rapid growth to $6T in AUA, amid allegations of lax oversight and money laundering
Gorman bailed on the firm, Jan. 1, leaving successor Ted Pick to pick up the pieces; Wall Street wasted no time dumping the stock after a WSJ report that a Federal Reserve probe had metasticized to other agencies
April 12, 2024 at 1:47 AM
Ron Carson is out as Carson Wealth CEO three years after Bain buys a big stake and subdued asset growth persists; Ron Carson pivots life toward leading a 'movement'
The majority owner of the $35-billion RIA remains chairman but will shift focus to 'humanitarian' concerns
April 10, 2024 at 2:54 AM
An Abbot Downing breakaway, but not exactly, Callan Family Office hits $5 billion of AUM after just two years using a creative 'Callan' brand deal and a partnership model
In the wake Wells Fargo's 'Abbot Downing' brand kill-off, Jack Ginter struck a platinum brand deal of his own, took his UHNW act to an RIA, and scored explosive 'organic' growth
April 9, 2024 at 2:00 AM
XY Planning Network founders mark 10th birthday of their Montana-based RIA-making machine with hard growth numbers and not-so-soft chiding of robo-advisors, CFP limitations and doubters of their downmarket business model
Alan Moore and Michael Kitces put their money where their mouths were and plan to expand their not-a-CFP XYPN Academy training to stamp out 'Imposter Syndrome.'
April 6, 2024 at 2:02 AM
Stephen Chen completes $20 million raise; RIAs have found a niche use for his consumer-facing software -- never mind all those subscribers and enterprises
The founder of NewRetirement.com has a DIY approach that RIAs and enterprises are attracted to because consumers do much of the work
April 3, 2024 at 2:43 AM
Christa Carone, an ex-Fidelity and Xerox marketing whiz, steps onto a slippery slope at LPL with a daunting task -- to consolidate a NASCAR size brand portfolio... or not?
With no CMO since August, the chief marketing officer will play catch up for a company still hungry to buy more branded B2B and B2C players.
April 2, 2024 at 1:28 AM
As Betterment AUM balloons to $45 billion, Tom Moore ends DFA's exclusive mutual fund deal for RIAs and opens the floodgates; PIMCO, T.Rowe, Fidelity and Vanguard get first crack at DFA 'menu' hegemony
The New York City RIA custodian now has 850,000 end investors and admits mutual funds are a 'top request,' but big limits remain on how RIAs can manuever with mutual funds.
March 30, 2024 at 2:19 AM
Two 'RIAs' that allegedly falsely advertised using 'artificial intelligence' to aid investment decisions cough up real SEC settlements and censure
Accused of 'AI washing,' Delphia and Global Predictions are liable for $225k and $175k, respectively, after leading investors to believe that AI machines were madly carrying out valuable processes.
March 20, 2024 at 3:53 AM
Dani Fava is out at Envestnet -- to capitalize on AI revolution at a new firm, she hints
The ex-TD Ameritrade talent was hired by CEO Bill Crager in 2020 to harmonize acquisitions -- not least MoneyGuidePro and Yodlee that the company still grapples with
March 20, 2024 at 1:25 AM
Fidelity lays off 700 -- not for costs or [bad] performance -- but to shift headcount and hire more client-facing and tech staff, touching off 'panic posting' on job board
The $12.6 trillion Boston investments eyes 2,000 new hires to speak directly to clients or develop more tech products, but lack of clarity jars some staffers
March 12, 2024 at 1:08 AM
High wattage Shannon Spotswood starts spending Long Ridge capital on three big talents, including Abby Salameh, a 25-year veteran executive who pioneered marketing and advisor outreach
The president of the little-known Birmingham, Ala., advisory with $4.8 billion of AUA is using freshly raised funds to bring A-listers to the staff
March 8, 2024 at 1:25 AM
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.
