RIABizOpinion

Robinhood's 290 staffing cuts to its 'lean, hyper-focused' trading machine lifts stock, but leaves unanswered whether its RIA custody unit will take a headcount hit or fac…

The Menlo Park, Calif., brokerage is down to about 2,600 people after CEO says the cull was needed to fight back against ...
RIABiz

Choreo may win up to $5 billion of SpaceX IPO wealth by bulk sale but likely made a devil's bargain -- a low fee for a high-maintenance clientele, analyst says

The $29-billion Chicago RIA landed at least 100 millionaires en masse, who just created a 'model' for how to force down RIA ...
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Vanguard is handing its 401(k) chief's duties to CEO Salim Ramji -- a month after Schwab's CEO said he's remaking his 401(k) business into a giant killer -- as major pl…

The Malvern giant is bidding adieu to John James, current head of Vanguard’s Workplace & Advisor Solutions, but seeking no ...
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Orion and Flourish are angling to cut wirehouses, big banks out of the high net worth cash (and lending) game, with uncommon integration that 'helps advisors bring clie…

The Omaha, Neb. RIA software giant did a seemingly innocuous cash management upgrade, but it's a prelude to its RIAs making ...
RIABiz

Salim Ramji gets more hands-on at Vanguard by absorbing 401(k) chief duties right after Schwab CEO vows to launch 'workplace' asset offensive

The Malvern giant's CEO will directly oversee Vanguard’s Workplace & Advisor Solutions, as John James, its current head, ...
RIABiz

Vanguard reassures RIAs (and others) that 'moonshot' SpaceX IPO is still grounded by process as four of its ETFs start soaking up shares as early as next week

The Malvern, Pa., firm managing $12-trillion mostly in passive index funds, says its size, the market's size, new ...
RIABizOpinion

Rick Wurster puts Fidelity's $5-trillion-plus of 'workplace' assets in play with a new 'total asset capture' strategy that promises a recordkeeping revamp and service edg…

The Schwab CEO has thrown down the gauntlet at his peril, analysts say – noting that his vision involves using typically ...
RIABiz

Schwab drops bomb that four Schwab Wealth Advisory branches were in pilot, succeeded wildly, and now -- boom -- 30 SWA offices will be up and running by 2027 as 'core' offering ...

Schwab launches 30 new wealth advisory branches by 2027. Pilot program success drives Schwab's aggressive physical expansion. RIAs face direct competition from their custodian. Schwab's move signals a ...
RIABiz

To leapfrog ahead in direct indexing, Schwab to buy Motif technology and hire Hardeep Walia and much of his staff

The San Francisco company gets all of the San Mateo firm's algorithms, patents and source code but not the customer assets and 'leverage' of its giant index-investing franchise. Brooke's Note: ...
RIABiz

RIAs remain wirehouse kryptonite in 2024, and by 2027, JP Morgan, Merrill, Wells and UBS will see market share tailspin -- RIAs the obvious culprits, Cerulli data shows

'RIAs' will control nearly one-third of advised assets by 2027, up from 27% today, virtually switching spots with wirehouses in a statistically zero-sum battle for market dominance, Cerulli projects.
RIABiz

Schwab and Fidelity halt of BlackRock's money-market fund ETF trades was no shock nor was it a straightforward series of events -- or explanations

Byan Armour: Don’t mess with cash management. Brooke's Note: The beauty of being a third-party asset manager like BlackRock is that you can skip all that overhead and managerial complexity associated ...