RIABiz

Schwab's surprise unveiling of Anthropic deal at Future Proof shows it has an AI ace up its sleeve, but it may take five years or more to catch up with Altruist, if at all, say ...

RIAs are caught in the middle over data concerns, as the $6-trillion RIA custody giant blindsides the soon-to-be ...
RIABiz

Marty Bicknell commits $175 million to install 700 'AI' bots to revolutionize RIA automation; the gamble isn't AI but whether advisors, clients, staff and leadership will ...

The Mariner CEO is all-in on Humanity Labs' agentic artificial intelligence, a venture he co-owns; the payoff will be faster and smoother integration of RIA acquisitions, he says.
RIABiz

David Fortunato makes his third pivot after cash management cross-selling fails to yield ample robo investors -- a bolt-on discount brokerage will join its digital home …

The Wealthfront CEO turns Q2 earnings into a confessional, volunteering how the robo-advisor misjudged it's cohort's ...
RIABiz

Bain Capital (mostly) funds Envestnet buy of Vestmark to surpass $10 trillion and define 'adaptive modularity' strategy, leaving Orion a clear RIA lane

The New York City PE powerhouse likely spent $500 million-plus to power up its Envestnet take-private deal by creating a ...
RIABiz

'No rush' Peter Mallouk is doing wild 'gap' deals as he rides out RIA seller's market and his Creative Planning keeps 'billions' of purchasing power 'locked-and-loaded' f…

The $780-billion RIA owner says eye-popping side deals like $4.3-trillion RVK add to the core 'Creative Planning' strategy -- ...
RIABiz

Schwab scores exclusive (for now) contract with Anthropic and takes AI 'driver's seat' in RIA custody, analyst says, though others counter that it's generic and late-coming

The Westlake, Texas, broker/custodian is 'the gorilla' with 'first crack' at new AI system, and will have the category-killing, API-supreme-equivalent that RIAs will be compelled to adopt -- or else, ...
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 ...

Ryan Smith, Ryan Sweeney and Halo invested at a valuation 560% more than Savvy's B round 15 months ago, enticed by some wins, an artificial intelligence tailwind and the former LPL CEO on speed-dial.
RIABiz

Schwab Wealth Advisory (SWA) unveils 'corkage' fee on third-party SMAs, typically .35%, as slew of changes add to 'elegant' master plan to convert DIY book to fees

The new Schwab price schedule, much like Fidelity's 'wrap manager,' goes into effect in 2027 and aligns with the aggressive ...
RIABiz

Amid a flood of warnings about dangers of rogue AI, Hamachi steps in with newly patented system to protect sensitive RIA client data from AI breaches

Anthropic staffer quit among dire warnings Tuesday and the RIA startup today released the news it has a patent to exceed ...
RIABiz

Will Trout

After Fidelity shutdown its password-sharing business model last year, Pontera's new tack is a 'non-discretionary service' while it waits out a CFPB decision on bank data-sharing fees and offers APIs ...
RIABiz

Masada Consulting

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 determine if they can make the ...
RIABiz

Wells Fargo follows Morgan Stanley out the door, prompting Forbes and Shook to freeze all 2026 advisor rankings amid fallout from $6-million editor payout

Forbes and Shook Research suspended all 2026 advisor rankings following a $6 million secret payout scandal. Wells Fargo followed Morgan Stanley in withdrawing from the rankings, triggering a potential ...