Results for "custodians"

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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...

E*Trade back on track, says analyst

February 22, 2010

E*Trade Financial Corp., which took a black eye from losses on its subprime mortgage holdings, is getting back on track by focusing on its roots as an online brokerage, an analyst said Monday. Keefe, Bruyette & Woods analyst Joel Jeffrey started...

Schwab to RIA clients: Did you authorize this wire transfer?

February 14, 2010

The Charles Schwab Corp. has begun calling clients of some registered investment advisers to verify that they have authorized wire transfers of funds from accounts held in custody at the broker-dealer. The move, which follows the Securities...

Bank of New York Mellon scoops up PNC Financial Services in cash deal

February 2, 2010

Bank of New York Mellon Corp. says it is acquiring the global investment servicing business of PNC Financial Services Group Inc. for $2.31 billion in cash. BNY Mellon says it will pay $1.57 billion for the business' stock and intercompany debt....

Bank of New York Mellon profit surges on asset management fees

January 20, 2010

Bank of New York Mellon Corp. said Wednesday its fourth-quarter profit surged as asset and wealth management revenue offset lower interest income. Profit rose to $593 million, or 49 cents per share, from $28 million, or 2 cents per share. Excluding...

Price war heats up as Schwab lowers online commission on stock and ETFs

January 10, 2010

The Charles Schwab Corp. — in a bid to attract more trades from customers who use deep-discount brokerages — plans to lower its commission on all online stock and non-proprietary ETF transactions to $8.95 per trade. The reduced commission...

Practice management services seen as best way custodians can win RIAs

January 3, 2010

Broker-dealers that hold client assets for registered investment advisers are pointing their marketing and technology arrows at practice management. Helping advisers manage costs, segment clients by profitability and maintain operational rigor...

State Street to buy Italian bank's securities services biz for $1.87B

December 22, 2009

State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash. The financial services provider said the acquisition will broaden its presence overseas,...

Schwab outlines products, enhancements for 2010

December 20, 2009

The Charles Schwab Corp., already having increased assets under custody for independent investment advisers this year, is preparing several products, services and technology offerings for advisers next year. Included in the mix are ex-panded...

Frequent traders get bullish on market, Schwab study finds

December 8, 2009

The Charles Schwab Corp.'s October survey of active traders showed a marked increase in bullish sentiment from three months earlier, the discount brokerage firm said today. Half of the 292 active traders and investors who responded to the firm's...

Fidelity fielding teams to serve operations needs of top RIAs

November 22, 2009

Fidelity Investments is unveiling details of the enhanced service model that Charles Goldman, head of its institutional platforms business, promised for registered investment advisers when he joined the firm from The Charles Schwab Corp. almost...

Fidelity unveils market analysis aimed at RIAs

November 15, 2009

In a move to attract and retain registered investment advisers and independent-broker-dealer clients, Fidelity Investments has introduced a program that it says offers financial advisers access to market analysis and industry insights. The online...

Fidelity rolls out investment program aimed at RIAs

November 11, 2009

Fidelity Investments, in a move to attract and retain registered investment advisers and independent-broker-dealer clients, has introduced a program it says offers advisers access to market analysis and industry insights. Insight & Outlook is...

Self-service account aggregation from CashEdge; Financial application for the Droid

November 6, 2009

Self-service account aggregation launched by CashEdge CashEdge Inc. is now making its AllData Advisor account aggregation service available to financial advisers via a self-service online subscription. Tom Roberts, senior vice president and...

TD Ameritrade: Advisory firms registered with the SEC should be required to do annual custody reviews

July 27, 2009

Compliance officers at investment advisory firms registered with the SEC should be required to conduct annual custody reviews and to certify those results, according to TD Ameritrade Institutional. The firm made that recommendation and others...

Pershing asks advisers to pay surcharges for more funds

June 14, 2009

Pershing LLC, the largest provider of back-office services and financing to small and independent broker-dealers, this month began charging shareholder servicing fees to brokers and financial advisers who buy certain mutual funds from its Fund...

Schwab executive says rivals will follow its lead on alternatives

May 3, 2009

The head of sales at The Charles Schwab Corp.'s adviser services unit expects its competitors to adopt the same restrictions it is putting on the custody of alternative assets, and urged clients to “interrogate” the companies on their “end-game...

Schwab webcast to address its revised alternatives plan

April 19, 2009

The Charles Schwab Corp. has scheduled a webcast Thursday to brief registered investment advisers on its revised plans to wind down custody of alternative investments. The largest custodian of RIA assets set off a firestorm of protest in February...

Schwab hit by slowing adviser assets

April 19, 2009

The Charles Schwab Corp. reported better-than-expected first-quarter earnings last week, but buried in the numbers were signs that the headlong growth of the independent-adviser community may be waning, according to some analysts. For at least...

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