Latest News
Jun 24, 2025
In a massive overhaul, Vanguard will split its $10.4 trillion in funds between two 'distinct' management teams with separate trading desks potentially trading against each other, analyst says
The index fund leader will separate 'hot button' corporate governance by team, and hopes to reap deeper focus, greater flexibility, and more opportunities for growth.
Apr 2, 2025
Commonwealth and LPL CEOs are determined to share bright future after black swan HR event unlocked the opportunity
Dan Arnold's highly unlikely dismissal as LPL Financial CEO already has an equally unlikely ramification – an LPL and Commonwealth super-merger with an idealistic vision to seek successful singular destinies… collectively.
May 24, 2024
Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once
The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.
Jan 8, 2024
Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain
The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.
Nov 23, 2023
Orion rescinds RTO order after its staff rebels by hijacking company email list, distributing petition and tipping off RIA media
CEO Natalie Wolfsen suffers first setback and rescinds a return-to-office (RTO) policy after week of protest to work on a more collaborative agreement on a post-COVID new normal
Oct 23, 2023
Focus Financial makes 'abrupt' CEO call, lets Rudy Adolf go into 'retirement,' with 'no solution in place;' the eighth RIA chief executive unseated since June as VCs move in -- where is the EBITDA?
Clayton, Dubilier & Rice closed on its $7-billion purchase of the roll-up on Aug. 31 -- with no hint that its parting of the ways with legendary 60-year-old founder was in the offing.
Sep 28, 2023
After false start, Goldman Sachs unloads high net worth unit to high-flying Peter Mallouk whose wide-spectrum offer won 'United Capital' in eight days
The Creative Planning CEO only paid a 'not material' price to Goldman Sachs to make a potentially quantum leap ahead toward dominance in the 'national RIA' race
Sep 7, 2023
Seven 'RIA' chief executives are stepping aside for CEO 'operators' as PE backers get 'trigger' happy in adverse market; here are their stories
Whether it's Edelman Financial Engines, SMArtX, Allworth or InvestCloud, the re-CEO-ing process follows a fat 2020 capital raise and thinner results in stormy financial markets.
Aug 3, 2023
Scott Hanson and Pat McClain throw off 'death grip' of 'cognitive dissonance' by stepping down from co-CEO positions, which one attests could 'suck the life' from him
The radio-star serial co-founders of an $18-billion RIA growth machine in Folsom, Calif., aren't apologizing and shouldn't, experts say -- rather they probably should take a bow for decisive action.
Jul 12, 2023
In apparent reversal, Charles Schwab Corp. is telling thousands of staffers in five cities to work from home -- six more cities, including its old San Francisco headquarters, are on the chopping block
The Westlake, Texas, company broke the news to staff in a memo obtained by RIABiz, announcing a mass downsizing of office space that could slash overhead
Oct 21, 2022
Dave Welling's rollup hits $39 billion of AUM and hires a 37- year-old breakaway from BlackRock to turn internal five-click shopping into a 'single conversation'
The Mercer Advisors CEO in Denver now has a 'president' reporting to him from the Big Apple to take on the specific mission of wiring a national RIA, rather than day-to-day operations at a rollup.
