Results for "custodians"

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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...

5 ways advisers can learn from billion-dollar RIAs - Billion-dollar RIAs' lessons for advisers

November 7, 2014

54% of financial assets are held at firms that have amassed at least $1 billion from clients, up from 42% only six years ago, according to Cerulli Associates. Advisers striving to be among this group of successful firms can learn from these...

Rival Fidelity shows up uninvited at Schwab Impact

November 7, 2014

As a record turnout of investment advisers gathered for Charles Schwab & Co.'s annual Impact conference in Denver, Colo., an uninvited guest lurked outside the gates. Refusing to let Schwab hoard all the attention of the nearly 3,600 advisers,...

Schwab sues ex-advisers, RIA over “conspiracy”

November 3, 2014

Charles Schwab & Co. Inc. is continuing to fight back against former brokers who leave its ranks. In one of its most recent actions, the firm filed suit last month against a Tampa, Fla.-based registered investment adviser, Camelot Wealth Management....

Pershing playing catch-up with competitors as custodian considers offering commission-free ETFs

October 30, 2014

Access to commission-free trading of ETFs will expand in the coming months with the arrival of Raymond James Financial Inc. and the possibility that Pershing also might join the increasingly popular movement. A top Pershing executive said Wednesday...

Pershing “actively” considers launching commission-free ETF platform

October 29, 2014

A top Pershing executive said Wednesday the firm is considering a commission-free trading platform for exchange-traded funds. “We're actively looking at that as a further potential solution, evaluating many things including the economics of...

TD Ameritrade's Veo dashboard gets boost from big data

October 28, 2014

TD Ameritrade is making a more personalized technology pitch to advisers. The firm's top executives said Tuesday that they plan to roll out within the next few months a new system that filters information from third-party software — from CRM...

How should custodian technology influence you?

October 27, 2014

Advisers are required to perform due diligence when choosing or retaining a custodian for their clients' accounts. In compliance terms, this is called "best execution." Best execution requires analysis of more than just how a custodian executes...

Charles Schwab to launch free 'robo'-adviser next quarter

October 27, 2014

Launching its own online advice platform, Charles Schwab & Co. Inc. is aiming to make low-cost, web-based advice even cheaper in the latest development in the quickly evolving business, but some industry watchers say it could rankle advisers...

Schwab signs Morningstar to provide equity research, ratings

October 23, 2014

Financial advisers who hold client assets in custody with Charles Schwab Corp. will be gaining access to global equity analyst reports and ratings for about 1,400 companies through a licensing agreement with Morningstar Inc. Schwab represents...

Custodians jump into the robo game

October 20, 2014

Custodians, those longtime third-party guardians of customer securities, are launching new products that give traditional registered investment advisers the technology to compete against so-called robo-advisers. In August, custodian Folio Institutional...

Scottrade retools custodial platform as it works to bolster its numbers

October 2, 2014

Scottrade Advisor Services, which has struggled with dwindling numbers of advisers on its platform, is working to stop the bleeding by attracting new RIAs, upgrading its technology and improving the experience for its existing advisers. While...

The big squeeze: End of the golden era

September 12, 2014

For most of our professional lives, independent advisers have been able to build their businesses by competing against scattered local competition from brokers working at one of the big brokerage firms and the other independent advisers in their...

RCAP to continue clearing with Pershing

September 9, 2014

RCS Capital Corp. and clearing giant Pershing have reached an agreement in which Pershing will remain the main clearing firm for RCAP's growing network of independent broker-dealers. During an investor conference on Monday, RCAP chief operating...

Custodians ranked by number of RIA custody clients

August 13, 2014

Firm Address City, State Zip Phone Website Head of RIA custody business 2014 # of clients % change vs. 2013 2014 assets under custody % change Minimum assets of advisers Schwab Advisor Services 211 Main St. San Francisco, CA 94105 (877) 687-4085...

Advisers rebuilt investors' faith

August 10, 2014

The Charles Schwab Corp. had a few challenging years following the financial crisis. But a focus on the RIA business has paid off as the firm's RIA custody unit crossed $1 trillion in assets last fall. As competition heats up among custodians,...

TD Ameritrade swims upmarket

August 10, 2014

United Capital's chief executive, Joe Duran, admits that three years ago, he would not have considered putting any of his millionaire clients' money with TD Ameritrade Institutional. But his firm, which has around $10 billion in assets under...

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