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 ...
RIABiz

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 ...

Shook Research founder R.J. Shook admitted a $6 million payment to Randall Lane was compensation for professional services. Morgan Stanley suspended participation in Forbes advisor rankings, ...
RIABizOpinion

After dominating Forbes rankings for years, Morgan Stanley suspends participation over $6-million editor scandal -- forcing RIAs and wirehouses to weigh whether 'ren…

The New York City wirehouse seems to be alarmed by an unanswered question critics ask: How were Randall Lane's offenses bad ...
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.
RIABiz

Will Trout

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 ...
RIABiz

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 ...

The New York City alts marketplace has raised half the sum at double the rate of four years ago, but it can point to growing RIA adoption to justify the valuation -- even if it's still burning cash ...
RIABiz

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

Mark Tibergien: 'Several of my friends have been on real spending benders lately.' Brooke's Note: Any RIA industry success story would have to note two giant tailwinds. One of them is the tireless ...
RIABiz

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

Schwab transitions sweep cash from FDIC to SIPC coverage for Investor Checking accounts between September and December. Industry experts label SIPC protection a lower standard than FDIC insurance for ...
RIABiz

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

Todd Bertucci: Goldman Sachs is the first custodian live on it, with more to follow. Building on a budding relationship across product lines, Orion rewarded Goldman Sachs Custody Solutions' initiative ...