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

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

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

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

TD Bank's RIA unit poaches Schwab's 'head of firmwide AI' and makes him its 'head of U.S. Wealth' with an eye on national franchise

Hardeep Walia: “The opportunity ahead is to bring together trusted advice, innovative technology and the full breadth of TD's capabilities. Key Points TD Bank hired Hardeep Walia, Schwab's former AI ...
RIABiz

Fidelity's move to kick sub-$100-million RIAs off its platform is 'bizarre,' Kitces says; it’s likely to backfire, Chalekian says; yet, the Fidelity-Savvy deal last week may ...

Fidelity is terminating custody relationships with existing RIAs managing less than $100 million in assets. Industry experts criticize the move as a bizarre decision that potentially abandons the next ...
RIABiz

Pershing reveal of 'Wove' kerfuffle during corporate restructuring last June raises questions about the No. 3 RIA custodian's direction; the task now lies with new RIA head ...

Adam Vos assumes leadership of BNY Pershing's RIA custody unit following a major executive restructuring. BNY Pershing sunset its Wove technology platform on September 30 after the departure of ...
RIABiz

Schwab's Jon Beatty is one custody head offering a port in the storm after Fidelity unmoors its sub-$100M RIAs and Altruist's Jason Wenk , Apex's Bill Capuzzi and TradePMR's R ...

Schwab and competitors are actively recruiting sub-$100 million RIAs following Fidelity's decision to exit that segment. Jon Beatty highlights that Schwab currently serves over 11,000 small firms, ...
RIABiz

XY Planning recruiting spikes as RIA M&A refugees flee rollups that dangle downer contracts

Alan Moore (l) and Michael Kitces: An advisor with 75+ million AUM was given 30 days to decide whether to sign new agreements or leave. Key Points XY Planning Network reports record growth as advisors ...