Results for "custodians"

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Ed Butowsky charges Schwab with political bias in $100 million lawsuit

April 20, 2018

Ed Butowsky, a Plano, Texas-based financial adviser who has been embroiled in a high-profile legal dispute related to the 2016 presidential election, has filed a $100 million lawsuit against Charles Schwab Corp. for kicking his advisory firm...

E*Trade puts its stamp on the RIA custodian space

April 9, 2018

E*Trade's $275 million acquisition of Trust Company of America, which was completed Monday, is expected to send the second-tier custodian into growth mode thanks to beefed-up resources, technology and marketing muscle. The first step in that...

What the next market downturn means for small RIAs

March 17, 2018

Investors aren't the only ones who will have something to worry about if the stock market heads for a major correction. As volatility steadily ticks higher, owners of small financial advisory firms might start to feel as if the walls are closing...

The importance of looking at new fee models

March 17, 2018

When your business model is designed around collecting a fee pegged to assets under management, the ebbs and flows of the financial markets can be nerve-wracking. For small advisory firms, which don't have a lot of room to cut overhead when...

TD Ameritrade has cut more than 1,100 Scottrade jobs

March 23, 2018

As TD Ameritrade Holding Corp. continues to absorb its $4 billion acquisition of Scottrade Financial Services, layoffs have now exceeded 1,100 in the St. Louis area where Scottrade is based, according to published reports. A TD Ameritrade spokesman...

Former TD exec Tom Bradley lands on fintech board

March 22, 2018

Seven months after parting ways with TD Ameritrade, Tom Bradley has landed a gig on the advisory board of financial technology firm MaxMyInterest. Mr. Bradley, 55, who spent 31 years at TD and remains under a non-compete agreement through March...

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...

Durbin gets promoted again, this time to lead Fidelity Institutional

October 3, 2017

Less than 10 months after taking over as head of Fidelity Institutional's product and platform technology group, Michael Durbin is moving up the ladder once again to take his boss' job, as head of Fidelity Institutional, where he will be responsible...

Invest Forward launches white-label robo for advisers

December 14, 2017

The launch of digital advice products from traditional financial institutions isn't stemming the tide of technology startups trying to enter the market. The latest player is Invest Forward, a white-label robo for advisers. The tool uses Folio...

Scottrade advisers test custodial waters

August 7, 2017

As TD Ameritrade Holding Corp. closes in on its September acquisition of Scottrade Financial Services, some competitor custodians have been quietly watching, waiting and rolling out the red carpet to Scottrade advisers who might choose to leave...

Digital investing will bring big changes in 2018

December 14, 2017

If we learned nothing else about the financial advisory business in 2017, we know that the digital revolution is just getting started. Brokers and advisers are facing increasing pressure to be more transparent and reduce fees. Complex regulations...

Custodial firm jumps from Sterne Agee to First Clearing

April 14, 2011

TradePMR Inc., the Gainesville, Fla.-based custodial firm, has signed on with First Clearing LLC. The conversion to First Clearing from TradePMR's current clearing firm, Sterne Agee Clearing, will be completed by August, according to Robb Baldwin,...

Fidelity's David Canter makes financial advice his Boston Marathon cause

March 20, 2017

David Canter, the newly appointed head of the RIA segment at Fidelity Custody & Clearing Solutions, will be running next month's Boston Marathon with the financial planning industry top of mind. Mr. Canter, 48, has named the CFP Board's Center...

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...

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...

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...

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...

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...

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's eMoney Advisor partners with Schwab

November 15, 2017

Financial planning technology firm eMoney Advisor plans to integrate with Schwab Advisor Services' OpenView Gateway, eMoney announced today at the annual Charles Schwab IMPACT conference in Chicago. The move is interesting given the competitive...

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