TIAA has overhauled the senior leadership of its wealth management business. The New York City-based financial services firm has added six new leaders, all coming from other firms. Four of them will join the wealth distribution team, while the other two will be a part of the wealth chief operating office. The influx will complement TIAA’s internal talent “to help clients prepare for retirement and reach their financial goals,” according to a statement from Rashmi Badwe, executive vice...

Former Vanguard Group CEO William McNabb has joined venture capital firm Venrock as an exclusive advisor to guide the firm’s future investments in wealth management technology. Venrock grew out of successful investments made into technology by the Rockefeller family office in the 1930s and has been a force in venture capital since it officially launched in 1969, including being an early investor in companies like Apple and Intel. The company turned its attention to wealth management in 2011...

RBC Wealth Management lured a team of financial advisors away from UBS in order to establish a new branch office in Columbus, Ohio. The addition of James Ford & Duble Wealth Partners, which managed $1.1 billion in client assets at UBS, gives RBC Wealth Management an expanded presence in the Great Lakes region. The firm, which is a division of RBC Capital Markets, has $515 billion in total client assets. This is RBC Wealth Management’s third office in Ohio, with the others located in Toledo...

Jaylen Brown plans to use the most lucrative contract in National Basketball Association history to attack the wealth gap. The Boston Celtics awarded the player a $304 million contract Wednesday. When asked what he plans to do with the money, Brown said he’d like to invest in bringing a Black Wall Street to Boston to bridge what he called an “unsettling” wealth disparity. “With the biggest financial deal in NBA history, it makes sense to talk about, one, your investment in community, and,...

Ritholtz Wealth Management and Advisor Circle have selected a small group of technology companies to showcase innovative new products for financial advisors as part of the second annual Future Proof wealth management festival. Out of a pool of nearly 100 applicants, seven companies were selected for the “Fintech Demo Drop” at Future Proof, which returns to Huntington Beach, California, in September. The finalists will receive digital promotions from the event, scheduled meetings with...