Results for "custodians"

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Envestnet acquires tech company Upside

February 26, 2015

Envestnet, a wealth management technology company, said Thursday acquired Upside, which provides registered investment advisers with online investment services, for an undisclosed sum. Upside advises and manages client investments on an automated...

Vanguard may expand fast-growing virtual investing service to advisers

February 25, 2015

As Vanguard Group Inc.'s virtual investing platform grows exponentially, the firm is considering offering a version of it to financial advisers, an executive at the firm told InvestmentNews. Assets in Vanguard's Personal Advisor Services increased...

Fidelity combines clearing and custody units, creates tech division

February 24, 2015

Fidelity Investments combined its clearing and custody units on Tuesday and created a new technology division. Fidelity Clearing and Custody will be headed by Sanjiv Mirchandani, the president of National Financial. The combined clearing and...

Some RIAs cautious of using alts, despite industry buzz

February 17, 2015

Clients, product manufacturers and even major custodians are all pushing the advice industry toward alternative investment products, but some registered investment advisers are still holding back. Alternative investments, which generally include...

Fidelity records massive profit, despite fund outflows

February 12, 2015

Fidelity Investments increased its earnings by 29% last year, to a record $3.4 billion, despite surging investor redemptions of its mutual funds. The company's fund outflows — and its continued evolution to a diverse investment and service...

A new entry point for gold investors takes on GLD

February 9, 2015

Just as gold is regaining its luster with investors, Bank of Montreal's new gold deposit receipt program offers a new way to tap into the market for the precious metal. The Bank of Montreal's gold deposit receipt program, GOLDRs, which is aimed...

5 steps to incorporating a robo into your firm

February 3, 2015

It's time for financial advisers to start figuring out how to integrate an online advice solution into their businesses because clients will increasingly expect financial services to be delivered this way. Some early adopters of online adviser...

Exclusive: Fidelity to acquire eMoney Advisor in major adviser-tech deal

February 2, 2015

Fidelity Investments will acquire eMoney Advisor, a top financial-planning software manufacturer, in a move that could resonate as one of its most potent adviser-technology deals to date. Conshohocken, Pa.-based eMoney makes a popular software...

Why advisers are worried about eMoney's acquisition by Fidelity

February 2, 2015

Financial advisers using eMoney Advisor were startled Monday to learn that the firm they relied on for software to create financial plans for clients would now be mostly owned by Fidelity Investments. Fidelity, the nation's second largest mutual...

TD Ameritrade Institutional launching Veo One dashboard for advisers

January 29, 2015

A new platform from TD Ameritrade Institutional offers advisers a single "dashboard" that integrates data from multiple applications and will give advisers a deeper view of their business analytics, the custodian announced Thursday at its national...

Pershing, courting digital wealth managers, teams with Motif

January 27, 2015

Pershing is partnering with Motif Investing Inc. as the online brokerage start-up looks to expand its services for financial advisers in the U.S. and extend its reach internationally, an executive from the custodian said Monday. “A lot of...

Client demand for simpler technology challenges independent broker-dealers

January 25, 2015

An increasingly tech-savvy investor base is challenging independent broker-dealers to meet the demand for simple technology in a way that fits into the complexities of advisers' businesses and keeps investors' personal information protected....

Fidelity fined $350,000 in billing snafu

January 20, 2015

The Financial Industry Regulatory Authority Inc. has ordered Fidelity Investments to pay a $350,000 fine after the firm allegedly overcharged more than 20,000 clients a total of $2.4 million. From January 2006 to September 2013, Fidelity inappropriately...

Mutual Fund Store, once skeptical of ETFs, joins the fray

December 23, 2014

It may be the Mutual Fund Store, but company executives are not dogmatic about the "mutual fund" part. Starting in 2015, the $9.5 billion registered investment adviser known for selling mutual funds and financial advice to the masses will add...

Krawcheck: Wirehouses undaunted by RIA growth

December 11, 2014

Sallie Krawcheck, former head of the brokerage units at Citigroup Inc. and Bank of America Merrill Lynch, stepped into the lion's den on Wednesday to downplay the impact on wirehouses of the so-called breakaway broker movement. Speaking at the...

Fidelity Institutional weighs own robo offering

December 2, 2014

Fidelity Institutional is rapidly expanding its robo-adviser offerings and may even one day launch its own automated advice platform. The second-largest custodian to registered investment advisers, Fidelity said Tuesday it will begin offering...

Ex-Schwab broker barred for alleged theft of $1 million in office supplies

November 19, 2014

The Financial Industry Regulatory Authority Inc. has permanently barred a former Charles Schwab & Co. Inc. broker after he allegedly stole around $1 million in office equipment from his former firm. Between February and August of this year,...

Fidelity, Pershing, Schwab join suspension of Schorsch REITs

November 12, 2014

After an accounting scandal rocked one of Nicholas Schorsch's companies, broker-dealers began suspending trades of nontraded real estate investment trusts packaged and managed by companies he controlled. Now, three giants in the clearing and...

Focus Financial teams up with top Chicago RIA

November 12, 2014

Focus Financial, one of the largest buyers of registered investment advisers, is beefing up its network of advisory firms. The company has acquired Strategic Wealth Partners, the No. 9-ranked wealth management firm in the Chicago area with $1.4...

JPMorgan unwinds B-D clearing biz

November 12, 2014

Fidelity Investments stands to reap the benefits as JPMorgan Chase & Co. unwinds its legacy Bear Stearns broker-dealer services clearing and custody unit. JPMorgan said it had chosen Fidelity's National Financial Services unit as the “preferred...

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