RIABiz

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1. RB
   RIABiz·02:29 ET

   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
2. RB
   RIABiz·10:32 ET

   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 embrace the change, analyst says
3. RB
   RIABiz·00:39 ET

   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
4. RB
   RIABiz·00:47 ET

   Bain Capital (mostly) funds Envestnet buy of Vestmark to surpass $10 trillion and define 'adaptive modularity' strategy, leaving Orion a clear RIA lane
5. RB
   RIABiz·22:50 ET

   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
6. RB
   RIABiz·09:50 ET

   MassMutual helps Flourish find white knight buyer and regain 'standalone' status just months ahead of Phase II rollout that makes its 1,300 RIA clients more like a giant virtual private bank
7. RB
   RIABiz·01:31 ET

   SEC seeks to rescind 2010 'pay-to-play' rule, paving the way for investment advisors to again bid for public pension contracts while making political donations to officials with influence over pension awards
8. RB
   RIABiz·07:18 ET

   CEO Jason Wenk says Altruist's AI 'Hazel' is ready for its second act, a financial planning service that will blow away the market with one big caveat -- advisors must be ready to provide PDFs, if rivals refuse API access
9. RB
   RIABiz·23:05 ET

   RIABIZ INTERVIEW: Jason Wenk tells RIABiz one big unnoticed reason why he sold to Vanguard, and the Bogle-ish scenario he envisions for his eventual departure decades hence
10. RB
    RIABiz·06:26 ET

    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 marriage work
11. RB
    RIABiz·00:51 ET

    Vanguard struck with Altruist take-out after Schwab (and Fidelity) zapped it with ETF 'platform' fees, lightning bolts that clearly woke a sleeping monster that could redraw the competitive landscape for RIA custody, with massive 'Vanguard effect,' analysts say
12. RB
    RIABiz·23:37 ET

    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
13. RB
    RIABiz·07:30 ET

    Wild weekend brings rapid-fire legal settlements, admissions, explanations, threats, and a New York Times follow-up to Forbes rankings blow-up after Morgan Stanley bombshell to withdraw from top advisors list
14. RB
    RIABiz·13:03 ET

    After dominating Forbes rankings for years, Morgan Stanley suspends participation over $6-million editor scandal -- forcing RIAs and wirehouses to weigh whether 'rented credibility' is worth regulatory and reputational risk
15. RB
    RIABiz·00:49 ET

    Charles Schwab & Co. took out full-page WSJ ad promising to 'hire thousands more financial consultants' last week; this week it said RIAs will no longer receive sub-$5-million referrals in 2027 -- an implied toll bridge collapses, says one analyst
16. RB
    RIABiz·07:23 ET

    Salim Ramji (strategically) bends to the will of RIAs by allowing them latitude to remodel Vanguard model portfolios and let three favorite RIA partners -- Orion, Black Diamond and Vestmark — get a cut of the action
17. RB
    RIABiz·23:39 ET

    CAIS lands $170-million from Vista Equity at $2-billion valuation, double the last raise, but amount rekindles questions about whether private equity firms pay premium for 'alts platforms' with preferred-distribution payback in mind
18. RB
    RIABiz·12:44 ET

    Shook Research races to reassure advisors after New York Times reveals Forbes terminated top editor over $6-million payout, but critics call 'advice gift' defense hard to swallow
19. RB
    RIABiz·23:08 ET

    Raymond James poaches top Schwab RIA custody exec, as LPL, Cetera put pressure on IBDs to get RIA-hybrid competitive
20. RB
    RIABiz·18:39 ET

    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
21. RB
    RIABiz·10:42 ET

    Altruist promises 'NASA-like precision' with sweep-cash funded margin loans, aiming to solve the tax-aware long-short SMA bottleneck frustrating RIAs at Schwab and Fidelity
22. RB
    RIABiz·09:55 ET

    Schwab CEO said his company would be a 'premier destination' for private markets, on July 21 -- a day later, Andy Rachleff blogged why private investments are stacked against retail investors
23. RB
    RIABiz·23:18 ET

    No-constraints Corient's $21-billion RIA buy -- right after three deals closed with $19 billion -- is more of a harbinger than a harvest, says CEO, as integration completions coincide with deal closings
24. RB
    RIABiz·22:18 ET

    Rick Wurster insists Schwab won't charge RIAs custody fees or roll out AI cash optimizers, but Compass Point analysts say a 'Costco'-style fee for agentic cash-sorting could replace lost sweep margins and unlock a $135 stock price
25. RB
    RIABiz·00:15 ET

    Cerulli reveals giant leak in RIA assets, and Mark Tibergien explains why plugging a hole draining the Boomer 'Great Wealth Transfer' may be a harder than ever
26. RB
    RIABiz·23:13 ET

    Merrill Lynch's 'Hail Mary' attempt to compel Dynasty into arbitration over OpenArc breakaway fell yards short after a federal judge blocked the effort -- with a whole series of ramifications
27. RB
    RIABiz·22:23 ET

    Rick Wurster discloses sweeping Schwab plan to flip up to 31% of its self-directed book of business into its RIA, Schwab Wealth Advisory, calling house retail clients 'unmatched conversion funnel'
28. RB
    RIABiz·21:42 ET

    Orion and Goldman Sachs deepen their two-way custody and tech ties with a new AI onboarding tool, but shared large RIA clients may still prefer to build their own API pipes
29. RB
    RIABiz·00:34 ET

    LPL shares soar after hours on earnings and good news about 'Commonwealth' unit -- projected $25-million 'run-rate' uptick, and details from CEO about why 85% rep retention should climb to 90%
30. RB
    RIABiz·08:39 ET

    JP Morgan, Fidelity, and Schwab (and the like) are set to rake in billion of dollars in fees, charging people to use their own data; that might sound bad, but experts say the banks mostly wear white hats on this issue
31. RB
    RIABiz·01:05 ET

    LPL CEO Rich Steinmeier finally unveils AI-powered 'LPL Latitude' to show his firm's solidly in the artificial intelligence game and ready to counter Altruist's Hazel after months of stock-price depression
32. RB
    RIABiz·07:42 ET

    Vanguard takes first step to democratize private investments with 'soft' launch of branded funds – so soft Merrill Lynch and BoA private bankers get exclusive rights to sell them – RIAs are cut out, for now
33. RB
    RIABiz·11:42 ET

    Schwab CEO ties his firm's blowout RIA custody asset quarter to Fidelity's long/short fund rethink; a big household halo multiplied the effects of the popular and controversial products
34. RB
    RIABiz·12:43 ET

    LPL gets blasted by upstart co-founder for its Commonwealth staff slash as its CEO Wayne Bloom expresses 'melancholy' over the cuts but stands by sale to LPL -- 'sustainability' is paramount, he says
35. RB
    RIABiz·11:59 ET

    Schwab and Fidelity beat Goldman Sachs to the punch on long/short fund sorcery for RIAs, but the vampire squid is back with its own offer -- a possible one-up
36. RB
    RIABiz·08:37 ET

    Vanguard hires ex-Barron's, ex-Fido 'thought leader' and CFP for mission impossible -- to better speak to RIAs after years of viewing third parties (and their fees) suspiciously
37. RB
    RIABiz·06:58 ET

    Russell Investments' sale to CalPERS expands existing ties and paves way for Vanguard-like reputational boost -- not to mention a reprieve from debt albatross, if it plays its cards right, analyst says
38. RB
    RIABiz·12:52 ET

    Hightower's 'Signature' growth soars and recruiter smells 'economics' • Strive CEO says 'never' means 'never, ever'• Ex-Fido CTO nets $7.7 million backing for RIA idea • Mariner vs. client age timebomb • After SpaceX win, Choreo rolls-up 4th RIA • Avantis adds $50B and $30B is net new, whew!
39. RB
    RIABiz·18:35 ET

    XY Planning Network 'Sapphire' hits $1 billion and gets smacked with fee criticism, but Michael Kitces says the fees 'make sense' with context -- not least that RIAs paying far less asked to get more, even at the higher rate