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

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 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

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

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

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

Wealth Management

After Anthropic hiccup, the custodian to 17,000 RIA firms puts its money where Jon Beatty's mouth is -- the AI platform chosen by Focus Financial, United Capital and others with $700 billion combined ...
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 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

Schwab Advisor Services secured an exclusive custodial partnership with Anthropic to deploy Claude for Financial Advisors. Analysts claim Schwab’s massive scale provides a competitive advantage ...
RIABiz

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 ...

Schwab will feed its wealth manager all sub-$5 million leads starting 2027, and consoled RIAs by promising skyrocketing $10-million and $25-million referrals will keep coming their way. Schwab plans ...
RIABiz

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

Molly Bennard: Shook Research and Forbes continue to work together on delivering the industry-leading research and programs expected by all of our partners. Key Points Forbes fired Chief Content ...