Diana Britton

In this week’s fund news, Rob Arnott launches four model portfolios; Ritholtz’s clients reap the benefits of tax loss harvesting through direct indexing; and DFA celebrates its 40th anniversary.

The firm’s net new assets in the wealth management business were up 183% from a year ago, which executives attribute to net new clients, asset consolidation from existing clients and stock plan retention.

Amid a proxy battle with an activist investor, advisors who recently left Avantax say service levels suffered and fees rose after parent company Blucora acquired and combined their broker/dealers.

As Blucora continues to face a proxy battle with activist investor Ancora, its former CEO, John Clendening, accuses the company of filing false statements.  

San Francisco–based advisor Kristin Bartlow and her team bring $180 million in client assets to Journey Strategic Wealth, a new spin on the aggregator model, from Northwestern Mutual.

In this week’s fund news, Grayscale hopes to convert its Bitcoin Trust into an ETF; Schwab joins the nontransparent active ETF game; and Invesco plans to integrate ESG into all its investments.

Aldrich is the latest in a string of high-profile marketing officers in the advisory space to leave their firms over the past few months.