RIABiz

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 ...

LPL shares rose $10.68 to $343 or 3.22% after Steinmeier promised 'agentic' AI as part of $2-billion tech spend, but not AI ...
RIABiz

LPL shares spike after CEO finally unveils his firm's artificial intelligence play, Cyan, to counter Hazel, after months of stock-price depression

LPL shares rose $10.68 to $343 or 3.22% after Rich Steinmeier promised 'agentic' AI as part of $2-billion tech spend, but not ...
RIABiz

Goldman Sachs CEO's taste for sleek private jets runs into flak as cost cutting sweeps the bank and shareholder advocates oppose $80 million retention bonuses each for two top ...

David Solomon jets around the world -- and to his luxury Bahamas retreat -- on a $70 million Gulfstream G650ER, one of two Goldman private planes. Brooke's Note: When RIA culture stands alone, it's ...
RIABiz

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 controv…

Rick Wurster says the 99% year-over year Q2 net-new RIA asset growth traces to Schwab's punching the gas on long/short goods ...
RIABiz

White Paper Postings

By focusing on implied liquidity, investors may better assess trade size, execution and true ETF tradability beyond average daily volume.
RIABizOpinion

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 se…

The Bank of America wirehouse's attempt to undo or mitigate the loss of a team that once managed $129 billion in-house will ...
RIABiz

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 -- 'sust…

Savvy's Ritik Malhotra makes overture to legacy CW advisors by citing pink-slipped staff 'who made it feel like Commonwealth' ...
RIABiz

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 t…

Vanguard-Blackstone funds at some future date, the release hints, but the exclusive arrangement will hold for indefinite ...
RIABiz

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 ...

The Schwab CEO told Wall Street today that converting DIY accounts to ones with Schwab advice provides triple the return on ...
RIABiz

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

Late' but potentially more exotic, and more profitable, the New York City fledgling custodian will impose limitations on ...
RIABiz

Charles Schwab Corp. touted long-short RIA accounts to Wall Street as a hot new 'win-win' revenue source until geopolitics made it question whether it was 'growing responsibly'

Schwab limits long-short SMA assets to 30% of custody assets. Geopolitical events and market volatility likely prompted the shift. Custodians are tightening leverage limits on long and short positions ...
RIABiz

Andrew Besheer

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 'Late' but potentially more exotic, and ...