Alex Steger

Journalist. Editor of Citywire USA

[Ian Wenik @IanWenik]

One of the biggest deals in recent RIA history.

[Ian Wenik @IanWenik]

Scoop for @CitywireRIA — TPG, one of the largest private equity firms in the world, has agreed to invest in $17bn Atlanta RIA Homrich Berg, according to sources with knowledge of the situation: https://t.co/cuP3XTRtcF

[Ian Wenik @IanWenik]

Scoop for @CitywireRIA — Geller & Co., a $9.6bn RIA led by Michael Bloomberg's financial advisor and accountant, is pursuing a sale, according to sources with knowledge of the situation: https://t.co/inOgOZ4ACU

[The Investment Ecosystem @Inv_Ecosystem]

It was great to do a closed session on asset manager culture at the @CitywireProBuy due diligence event in Chicago. Here's a conversation afterwards with @alexjsteger about some of the topics.

https://t.co/6GKAWcQ7Wd

[Citywire RIA @CitywireRIA]

Our editor @IanWenik welcomed a packed house at our #CitywireRIA CIO Summit this morning.

We’ve now kicked off with our first keynote, Neil Dutta of @RenMacLLC.

Next we will hear from our tech sponsors just before we begin our fund workshops.

[Ian Wenik @IanWenik]

Scoop for @CitywireRIA — CI Financial is acquiring $8.4bn RIA Avalon Advisors, according to sources with knowledge of the situation: https://t.co/lvtbct1wea

[Alex Rosenberg @AcesRose]

Are active mutual fund managers facing the same quandary as Disney? @alexjsteger and I discuss >> https://t.co/cwratd5L8i

[Andrew Foerch @AndrewFoerch]

Alternative investment managers are having a hot moment in RIA M&A. My latest for @CitywireRIA (including a small deal scoop!):
https://t.co/XnBiWuCQYY

[MichaelKitces @MichaelKitces]

Surging Staff Exits Bedevil Busy SEC & other "Weekend Reading For Financial Planners (Jan 7-8)" - https://t.co/9crdrOEWYF

#Advicers

[Amelia Holland @Garlandgoeswest]

A live recording of ‘Mistakes Were Made’ has just kicked off with investment legend @HowardMarksBook at our @CitywireProBuy San Francisco Alternatives Retreat!

@alexjsteger and @AcesRose will find out the biggest investment mistake Marks has made in his career.

Stay tuned…

[The Investment Ecosystem (old) @Inv_Ecosys_Old]

what to do about employees' underwater equity (@Aon_plc)

social investing networks (paper)

investment team turnover (@alexjsteger)

ego versus price at META (@AswathDamodaran)

capital gains distributions in a down year (@MorningstarInc)

multi-strat funds (@RobinWigg)

cont.>

[Amelia Holland @Garlandgoeswest]

Calling RIAs!

@HowardMarksBook & @ErikaMCheung are joining our San Francisco Alternatives Retreat on Thursday and Friday next week at the Fairmont.

You don't want to miss out on this event!

Register: https://t.co/cq6ytBQFoJ

@CitywireRIA @AcesRose @alexjsteger @ashleymlowe

[Citywire Pro Buyer @CitywireProBuy]

.@GQGPartners' Partners's star fund manager Rajiv Jain explains how an aversion to energy cost him big, why skin in the game is vital, and that PM turnover isn't always a bad thing. Plus, a Samurai bunny bubble!

🎧 Listen: https://t.co/thX1O6irim

@InvestorAmnesia @alexjsteger

[Alex Steger @alexjsteger]

Huge news / scoop from @CitywireRIA and @IanWenik

[Ian Wenik @IanWenik]

New for @CitywireRIA — RIA service provider Dynasty Financial Partners has shelved its plans for an IPO, according to four sources with knowledge of the situation: https://t.co/ff67wAQ9ii

[Alex Steger @alexjsteger]

Top stories from @CitywireRIA / @CitywireProBuy today:

🥊Florida man fights ESG (https://t.co/xIj3GXEHcC)

💵Alera acquires $3bn Johnson Brunetti (https://t.co/l9hiRMwbxv)

⭐️PM Bill Nygren stepping off some Oakmark funds (https://t.co/saNlpyzT98)

[Ian Wenik @IanWenik]

Exclusive — Fidelity RIA business head David Canter is leaving the custodian at the end of July, according to an email obtained by @CitywireRIA: https://t.co/5Czkc0qD3M

[MƛƦƘЄƬƁƦƖƇƠԼЄƲƦ @MarketBricoleur]

Looks like thematic investments are here to stay, just not as core positions in allocators portfolios says Baird, Huntington an Envestnet

Btw Alex has a fun podcast: "Mistakes Were Made"

@CitywireProBuy
#CityWirePB

[Alex Steger @alexjsteger]

@MarketBricoleur @CitywireProBuy Thank you!!

[MichaelKitces @MichaelKitces]

This is really a HUGE fine for Schwab.

To put $187M in context, most robos only generate ~0.25% in fees. So that's the equivalent of 100% of revenue on ~$75B(!) of robo-AUM.

If their profit margin is 20%, that fine is equal to 100% of profits on $375B of robo-AUM.

WOW.

[Alex Steger @alexjsteger]

@christine_benz @CitywireRIA Thanks so much for coming on the pod Christine! Was lots of fun. Sorry that the little-man-in-a-box chat was cut for time (we'll add it to the director's cut / box set edition for the die-hard fans)