Results for "custodians"

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New head at RBC custodial unit

November 2, 2010

Catie Tobin has been named head of RBC Correspondent and Advisor Services. Ms. Tobin, who had been head of business development for RBC Wealth Management, replaces Mike Kavanagh, who is retiring. Ms. Tobin will report to John Taft, chief executive...

Schwab's Clark says a strong offense is the best defense

October 31, 2010

With a market share more than twice that of its closest competitor, The Charles Schwab Corp.'s Advisor Services unit is the acknowledged king of the RIA mountain — and Bernie Clark intends to keep it that way. Mr. Clark, who took charge of...

Raymond James custody unit is small – but that's OK

October 28, 2010

While Charles Schwab Corp.'s Impact conference in Boston this week generated the most interest among advisers, 1,300 miles away Raymond James's Investment Advisors Division held its own industry meeting. It's easy to overlook Raymond James'...

TD Ameritrade assets up, profits down

October 26, 2010

TD Ameritrade Holding Corp. came up short of profit estimates in its fiscal fourth quarter ended September as trading revenue slowed. But the firm said that despite the tough environment, it held record client assets of about $355 billion, helped...

Fidelity offers its advisers single-family-office services

October 24, 2010

Fidelity Investments today is launching a service designed to help investment advisers who use the firm's custody services attract more business from wealthy clients by giving them access to its single-family-office services. The firm's Family...

TD bulks up services for retirement plans

October 20, 2010

TD Ameritrade Institutional yesterday rolled out what the firm says is an expanded set of services to help its advisers offer unbundled retirement plan solutions. One new service is access to a list of 12 third-party record keepers that advisers...

Adviser trust biz at Schwab reaches $1B milestone

October 10, 2010

The Charles Schwab Corp. has pushed quietly past a milestone in its dogged attempts to integrate trust services with its custodial business. Since dumping U.S. Trust Corp. in 2007, the company has developed its own homegrown trust company within...

LPL custody exec departs

October 8, 2010

Trust Company of America has hired industry veteran Bob Oros as vice president and national sales manager. Mr. Oros, 44, is leaving LPL Financial, the largest independent broker-dealer, where has worked since 2007 as executive vice president...

Custodians rev up their platforms

September 5, 2010

Hey, financial advisers: Technological choice is finally coming, so let the good times roll. During the next few years, custodians plan to invest hundreds of millions of dollars in a full menu of attractive technology choices, all in the hopes...

TD to open Veo architecture to third parties to lure advisers

August 8, 2010

Going beyond anything attempted by its custodian competitors, TD Ameritrade Institutional has embarked on a technology initiative that will open its architecture to third-party software and service providers. In a recent meeting with InvestmentNews,...

RBC seeks custodial niche on high end

June 27, 2010

Now that it has completed its acquisition of J.P. Morgan Securities Inc.'s RIA custody business, RBC Advisor Services is gunning for assets from advisers and breakaway brokers. “We've been very focused on integration, and now that it's done,...

Custody success clears path to top for JPMorgan's Miller

June 23, 2010

Heidi Miller, a confidant of Jamie Dimon for almost two decades, more than quintupled pretax profit at JPMorgan Chase & Co.'s treasury and custody unit since taking over the division in 2004. Her reward: a newly created job heading the Global...

Penson expects to take over Ridge Clearing accounts next week

June 14, 2010

Penson Worldwide Inc. said that it expects its U.S. securities-clearing subsidiary, Penson Financial Services Inc., to begin serving accounts of Ridge Clearing and Outsourcing Solutions Inc. on or about June 25. Penson announced its plans to...

Schwab alternatives director Josh Kernan resigns

June 11, 2010

Josh Kernan, who oversees sales of alternative investments to investment advisers and their clients at The Charles Schwab Corp., is leaving the company after 16 years to start a firm. In a memo e-mailed to clients and friends this week, Mr....

Coming soon: Clarity on alternative investments?

June 6, 2010

The murky world of alternative investments could become much clearer as a result of a new platform being developed by the Depository Trust and Clearing Corp. with the help of the biggest names in the clearing and custody industry. The purpose...

The Starr treatment: How celeb adviser allegedly got away with it

May 28, 2010

The alleged $30 million fraud committed by Kenneth Starr and his Starr Investment Advisors LLP constitutes another black eye for the financial advice business. Indeed, the much-publicized scandal has investors once again wondering how high-profile...

Schwab reverses course on alternatives

April 25, 2010

The Charles Schwab Corp. has reversed course and will allow advisers to hold in custody additional alternative investments. The move helps stem something of a revolt among the firm's registered investment adviser clients, which erupted in February...

Neuberger Berman taps J.P. Morgan Clearing as new custodian

March 15, 2010

Neuberger Berman Group LLC has chosen J.P. Morgan Clearing Corp. as its clearing and custody provider, ending an 18-month relationship with Broadridge Financial Solutions Inc., Neuberger announced today. Neuberger chose Broadridge subsidiary...

Georgis returns to the fold, rejoins Schwab

March 2, 2010

J. Nicholas Georgis is returning to Schwab Advisor Services as vice president for strategic business. Among other things, Mr. Georgis will be responsible for relationships with independent broker-dealers and RIA consolidators, turnkey asset...

Florida investor sues firms over adviser wire fraud

February 28, 2010

A Florida investor is suing TD Ameritrade Inc. for allegedly allowing a financial adviser to steal more than $2.3 million from her brokerage accounts by forging her signature on nine wire transfer requests. The adviser, Edward T. Stein, also...

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