A group of 100 current and former SpaceX employees is reportedly turning to Chicago-based RIA Choreo to manage billions in anticipated wealth around Friday's IPO, with advisory fees below 0.5%.
After reporting a 20% lift in private banking gross sales tied to AI tools, JPMorgan is preparing more autonomous AI agents that could significantly increase client coverage across wealth management.
Foundations Investment Advisors and its former CEO Bryon Rice have agreed to pay about $2.1 million in fines after the SEC found they failed to disclose Rice's trading activity and ownership interests tied to investment funds.
With a 25% revenue share and $250,000 client minimum, Robinhood Advisor Network pitches a mobile app-based client-to-advisor match pipeline at it plans to soon expand from 16 to 60 independent advisors.
Robinhood’s invite-only Concierge unit now serves about 60,000 high-net-worth clients with CFP access, tax planning, and estate planning resources as the retail brokerage expands further into wealth management.
More than 1,000 current and former employees are reportedly negotiating with RIAs including Creative Planning and Corient for sub-0.5% advisory fees and tax-loss harvesting ahead of SpaceX's public debut.
“It's probably a $500 bet, so it's not like I've made a massive bet on the game, but I probably check it as much as I do my portfolio,” Robinhood user Ryan Frankel said at TradePMR's Synergy conference for financial advisors in Washington D.C.
Robinhood is adding Cortex for Advisors across TradePMR, bringing AI-powered portfolio analysis and tax insights to advisors, while executives say regulatory constraints still prevent AI from directly managing client assets.
Grimes & Company, a $6.5 billion RIA backed by Joe Duran's Rise Growth Partners, is among the firms participating in the Robinhood Advisor Network client referral program.
Les Smith, who once played alongside future MLB stars Eugenio Suárez and Nick Castellanos, says lessons from professional baseball helped fuel his transition to independent wealth management after 11 years at Edward Jones.
