The inverted reverence dynamic at The In|Vest event and why Bill Crager is so over it
Tomorrow is here: Wirehouse execs and IBM types play groupies as robo-founders leaned back in their chairs
FAA
Hopefully the robo/ tech stuff fulfills the fiduciary standards. It may or may not…but it has not to date. I would short Envestnet because when you look under the hood…past the mediocre technology…to how they are compensated, how they trade, what the research etc…it is a short. They throw great parties and profess helping you build your business (who doesn’t). Don’t see how any advisor using Envestnet could defend they are acting in their client best interest. Up to the advisor to do their own DD but if you do – most likely you will come to the same conclusion.
Related Moves
Bill Crager shuffles the deck on management team created just seven months ago: Tony Leal is out of 'Big Three' inner circle, replaced by Morgan Stanley vet Rose Palazzo
The RIA software 'trailblazer' and co-founder of MoneyGuidePro has been working on departure for a year; will transition to a 'consultant,' company says
January 7, 2023 at 1:50 AM
Envestnet just named an ESG head to meld 'wellness,' 'The Intelligent Financial Life' and 'sustainable investing' into a single nirvana -- that starts outside of the product realm
Ron Ransom earned CEO Bill Crager's trust as chief business development officer and now will define how Envestnet conducts itself as a global citizen and vendor of wellness.
July 27, 2022 at 2:27 AM
Jon Stein ousts himself as Betterment CEO and taps Sarah Levy, who joins an exclusive club of top women executives, with a mission -- an IPO
The co-founder of the New York robo-advisor headhunted the ex-Viacom brass through Harvard professors on the down low to ostensibly scale operations.
December 8, 2020 at 5:27 PM
Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far
The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.
March 9, 2023 at 1:23 AM
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