The Advisor's Note: archive
Every The Advisor's Note story in Advisors, newest first. 59 stories
1 story
Mariner's $175 million bot budget is a supervision purchase
At $250,000 a bot, the AI gap in wealth management is now a data-custody and review-standard problem.
1 story
A zero-fee custody pitch turns due diligence upside down
Interactive Brokers has put a zero on the fee page; advisors now have to underwrite response times and export clauses before moving a dollar.
1 story
A tax-burden rebuttal for the 401(k) fairness critique
The ARA's tax-burden ratios give advisors a factual answer when the fairness critique starts costing plan contributions.
1 story
Insurance-owned advisor books are the new breakaway pipeline
Same-day Northwestern Mutual exits show hybrid RIAs winning with equity and custody independence.
1 story
Aquiline's Flourish Deal Puts Cash Sweeps in the Boardroom
Advisors with client cash on the platform must now justify the revenue splits that private equity ownership will sharpen.
2 stories
NASAA warns that video call from your advisor may be AI
The regulator's September 2 investor advisory is a ready-made client-authentication lesson that registered firms can use to sharpen their own communication habits.
The 30-year's 5% regime is the new baseline
Fifty-five days above 5% is the longest stretch since 2006, a fiscal plateau rather than a tactical spike.
1 story
Retirement surveys hand advisors the savings-gap opening
Fresh survey data shows most workers know they are short, fewer know the target, and advisors have a safe way to begin the income conversation.
1 story
The cap table now decides who wins $1B teams
Ownership equity, not the wirehouse checkbook, is deciding which firms land the next $1 billion team.
2 stories
The 11.6x median masks a two-tier market
Fewer deals and record asset volumes mean only prepared firms collect the premium.
Vanguard's Altruist deal is a negotiation window, not a transfer call
Advisors should lock pricing, product independence, and an advice-funnel carve-out before the standalone promise expires.
1 story
Clients Need a Definition of Investing, Not a Lecture
A finance professor's essay hands advisors the frame they need for the speculation conversation.
1 story
The custody account is becoming the customer relationship
Schwab's branch push, crypto boundary, and referral floor show why RIAs must reprice their custody risk.
1 story
Schwab keeps the small accounts. Edward Jones buys in.
Independent advisors have until 2027 to build their own route to small accounts. Schwab and Edward Jones are already taking theirs.
1 story
The Alt Platform Itself Is Now Diligence
The SEC's 46% markup case and CAIS's $2 billion round force the same question: who owns the shelf, and what did the client actually pay?
1 story
Two Sigma divorce puts founder-owner planning on the stand
A $1.3 billion valuation gap is the argument for writing founder divorce and ownership plans before a courtroom forces the issue.
3 stories
AARP survey gives advisors an opening on Social Security
Most clients under 50 misunderstand survivor and disability benefits. The survey numbers give advisors a place to start.
13 OECD countries tried wealth taxes. Most repealed them.
The Tax Foundation's scorecard gives advisors a concrete baseline for a familiar client question.
AI agents pile up recommendations. Only advisors can turn them into advice.
A multi-agent advice engine pushes the industry to decide who owns the fiduciary duty.