Oisin Breen
Articles written by Oisin Breen
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With technology still its Achilles heel, Vanguard makes Charlotte, N.C., a 'hub' for software engineers, purchasing 700,000-square-foot campus to house 2,400 with 'room to grow'
The $117 million purchase in exurbia may finally resolve one of Vanguard's biggest shortfalls -- lagging tech from the boombox and cassette tape era.
April 19, 2024 at 2:01 AM
RIAs assailed Altruist and put Jason Wenk on defense over a new fee schedule, but-- four days later -- Wenk went back on offense, promising to better even unchallenged fees
Multiple RIAs expressed outrage over "X" before the Altruist CEO superseded his critics and committed to having the lowest price mutual fund platform in the market.
April 9, 2024 at 9:02 PM
Olivia Eisinger convinced Apex to hire dozens of her fellow ex-TDA staff to 'reimagine' VEO and the service and now it's an RIA custody deliverable with a Big-Four-or-bust mandate -- and some analyst doubts
Now head of RIA custody leading loyal people like George Tamer, she re-platooned, Eisinger doesn't plan to compete much with Altruist because Apex plans to go straight after bigger RIAs, not startups -- perhaps with foot-in-the-door beginnings to prove itself.
April 5, 2024 at 1:48 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
In 'forced-evolution,' Robinhood subtracts a co-founder and pivots to credit cards to create captive sales that dried up after its phone-app trading platform and zero-commission novelty act imploded
Co-founder Baiju Bhatt exits management, but Deepak Rao is just getting started as CEO Vlad Tenev goes all in on making Robinhood a credit card company.
March 29, 2024 at 5:02 AM
Clara Shih lands new Salesforce AI power title, with 'healthy' trepidation • Skience patents onboarding auto-fill for RIAs • Another Brit invasion [attempt] meets its Breed's Hill • Defusing an RIA time bomb
If Salesforce gets winning [and safe] AI strategy, thank Hearsay founder • Salesforce reseller patently harvests data to onboard assets • Kingswood thoughts IBDs were US trash but Brit treasure
March 27, 2024 at 1:47 AM
Briefs: Schwab shares soar past $71 as two negatives get more positive • Yodlee upgrades after writedown • eMoney's new dashing portal lands • Ritholtz drops freebie
Schwab pares short-term borrowing costs • Yodlee hires document-scraper • eMoney adds portal customization • Ritholtz settles into middle-age with fatter fees.
March 22, 2024 at 12:33 AM
Breen Blitz: Mercer seals Vanguard OCIO buy • Goldman[Sachs] & Cohen split • PIMCO joins ETF shift • AdvisorEngine-Schwab bond grows • Ellevest milestone • Lonsdale nets new chief • Fidelity leaks data & staff move • Collation wins RIAs • Justin Wisz returns as investor • LPL nets CMO & Tifin a CEO
OCIO sale to Mercer may be Buckley's last act • Goldman's retail lead departs • PIMCO latest to convert mutual funds • Software firm upgrades Schwab data • Krawcheck preaches wisdom of naps • Fidelity hit by data snafu, but D&I on track • New Lonsdale tech shop imminent • Vestorly founder now funding start-ups • Eight month wait for CMO ends at LPL.
March 21, 2024 at 4:41 AM
SmartAsset bars new RIA clients from buying referral milk without renting the whole lead-generating cow for $25K a year -- a smart move, analysts say
The New York City referral generator is countering rival Zoe with broader offer, but it may now encounter out-of-niche providers like SS&G, FMG, or Hearsay.
March 19, 2024 at 1:30 AM
Jeff Yabuki puts InvestCloud 'brand identity' under McKinsey & Co. review and signals that no job is safe as Pete Hess exits: report
The 64-year-old InvestCloud CEO got dragged out of the Motive boardroom to reclaim control of the private equity firm's ROI -- and he's proving that nothing is sacred.
March 15, 2024 at 11:34 PM
DFA undergoes a sea change -- literally -- with a fancy yacht soirée, cigars and champagne as it attempts to sail away from its mutual fund image into the world of ETFs
Having just about staunched net outflows with its embrace of ETFs, DFA is embarking on a cultural shift as it tries to figure out how to sell more, even though it's less unique than it used to be.
March 13, 2024 at 1:46 AM
Inside Goldman Sachs' on-again, off-again custody play; a cacophony of false starts, pauses, delays, staff departures, technology glitches and morale issues bedevil RIA custody unit, RIABiz learns
Four years after buying Folio Financial, Goldman Sachs is testing the patience of RIAs, and maybe its own partners according to analysts and sources inside and outside the firm; but Goldman is preaching a new "optimism" and pledging lessons learned.
March 5, 2024 at 4:52 AM
Michael Kitces and Alan Moore swoop out of semi-stealth mode on 'Sapphire' with prices, wait list, rules, hard dates and a healthy fear of growing too fast
Launching first with a small group of six advisors -- likely ten by year-end 2024 -- Michael Kitces and Alan Moore intend to turn XYPN Sapphire into a growth engine.
February 21, 2024 at 2:56 AM
After their wild United Capital deal, Peter Mallouk and Goldman Sachs kept $7-billion-plus of AUM on board with a sweetheart deal for advisors, but the bloom is off their budding custody romance
Advisors got a rock-bottom price on Goldman's top-notch fixed asset management that was too good to consider leaving behind.
February 16, 2024 at 2:40 AM
RIA annuities inflows were bigger billions in 2023 for DPL and RetireOne; now private equity will fuel at least three firms in 2024 -- including newcomer Flourish
The biggest driver of growth will be breakaway broker books of commission annuities that will transition as advisors move to fee-based and fee-only models.
