RIABiz

Schwab is the latest to leap on runaway 'Nevis' AI bandwagon with capital backing and a critical endorsement

After Anthropic hiccup, the custodian to 17,000 RIA firms puts its money where Jon Beatty's mouth is -- the AI platform ...
RIABiz

Schwab trumpeted Anthropic's Claude for all 16,000 of its RIAs, but a 20-seat enterprise minimum suddenly sidelines 11,000-plus small firms -- right before IMPACT 2026

Anthropic imposed a 20-seat minimum for its Claude enterprise plan, effectively sidelining 11,000 small Schwab-affiliated RIAs.
RIABiz

Bank of America analyst 'double' slams Ameriprise not least because RIA 'structural' advantage triggered proactive in-house retention bonuses that take a bite out of m…

The Minneapolis brokerage giant is paying its own to stay put to slow a breakaway onslaught, but it could expensively raise ...
RIABiz

Rick Wurster chides Fidelity in wake of Fido's $100-million RIA purge, as Q3 net-new RIA assets -- both Schwab Advisor Services and Schwab Wealth Advisory -- soar 47…

The Schwab CEO underscores that his firm brought in triple the number of third-party RIA firms to the No. 2 custody provider ...
RIABiz

An Amazon intern in 2020, Nevis CEO Mark Swan is the unlikely dream weaver for Focus Financial and other big RIA rollups with 'nightmare' integration issues -- with …

With a new Nevis contract, Focus CEO Adam Biernbaum concluded he was buying a process, not a product, because applying ...
RIABiz

Schwab is opening its SMA marketplace to a Houston start-up's 'cash' option that lets advisors chase 7.5% yields on FDIC-insured cash -- with a few wrinkles

Michael Nelskyla: Hopefully, the AI bots will latch on. Key Points Schwab approved Save Technologies for its SMA marketplace, offering advisors a high-yield cash management alternative. Save generates ...
RIABiz

David Solomon eyeing near-term Goldman Sachs CEO exit, reports say, and his heir apparent looks RIA-friendly • DFA search for M&A partner went quiet, and complex factors ...

Goldman Sachs president John Waldron appears poised to succeed CEO David Solomon as early as January. Waldron brings deep RIA familiarity through his leadership of Goldman's custody unit and Creative ...
RIABiz

Marty Bicknell

Referral vendor Zoe Financial rewrites its ADV2 for fee hikes in its RIA TAMP that follow a censure, cease-and-desist order, and $450,000 civil penalty to atone for conflict disclosure failures in how ...
RIABiz

Fidelity Investments just cast a wider net for RIA custody revenues by backstopping Savvy Wealth's (expected mid-2027 ) custody launch -- hastened by the lean-in of 'multi ...

Ritik Malhotra: We have some multi-billion dollar AUM groups of folks that are very seriously considering the RIA platform right now. Fidelity Investments now has another, more AI-focused fishing line ...
RIABiz

Ritik Malhotra sells not-for-sale Savvy stake for $100 million after Utah Jazz owner showed up big for his LPL-disruption-by-AI play -- and Mark Casady re-upped at the new ...

Ritik Malhotra: We're up 4-x this past year to $9 billion in assets under management, with another $5 billion in recruited assets on the way. Key Points Savvy Wealth secured a $100 million Series C ...
RIABiz

Schwab is nixing FDIC backing on Schwab One sweep cash to 'Investor Checking' as soon as Sept. 8 by moving it all under SIPC -- with clear drawbacks for investors, say analysts

Schwab transitions sweep cash from FDIC to SIPC coverage for Investor Checking accounts beginning September 8. Analysts view the shift as a move to boost corporate profitability by lowering the firm's ...
RIABiz

Vanguard Group and Altruist can win RIA hearts, no problem, experts say, but the bro-cultural chasm – 2,700 miles apart and two ways of defining 'client-first' – will ...

Jason Wenk (right) [with Salim Ramji]: We've been defying the odds and proving the haters wrong for nearly eight years. Brooke's Note: We are still staggered at RIABiz that this $4.6 billion merger is ...