Results for "custodians"

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Pershing draws inspiration from consumer apps to drive RIA tech strategy

July 18, 2018

Technology's impact on everyday behavior has already forced advisers to rethink how they serve clients. Now it's forcing custodians to reconsider how they're serving advisers. At an RIA Symposium in New York Tuesday, Evan LaHuta, managing director...

TD Ameritrade launches fintech competition with $100,000 in prizes

July 16, 2018

TD Ameritrade Institutional is looking outside the industry for help keeping pace in the accelerating adviser technology race. On Monday, the firm kicked off Innovation Quest, a crowdsourced fintech competition distributing $100,000 in prizes...

Average client assets top $2 million for first time

July 12, 2018

The average client assets topped $2 million for the first time at independent advisory firms with over $250 million in AUM, according to Charles Schwab's latest RIA Benchmarking Study. That's the most per-client asset under management since...

LPL loses custody business of RIA managing $1.3 billion

July 13, 2018

Fragasso Financial Advisors, a Pittsburgh, Pa.-based RIA managing $1.3 billion, is moving its custodial relationship from LPL Financial to TD Ameritrade. The firm also said it will move its small, legacy brokerage business to Private Client...

Fidelity offering model portfolios

July 12, 2018

Fidelity Investments is jumping on the model portfolio bandwagon. The Boston-based custodian with $7 trillion in assets under advisement launched on Thursday the Fidelity Target Allocation Model Portfolios, which offers five different asset...

New digital Fidelity platform will let consulting firms bid for adviser projects

July 2, 2018

Fidelity Clearing & Custody Solutions is preparing to roll out a digital referral program to connect financial advisers with a range of industry consulting services, including marketing, technology and regulatory guidance. The platform, which...

Even after SEC's additional guidance, custody remains complicated rule for investment advisers

July 6, 2018

Recent guidance from the Securities and Exchange Commission about investment advisers' custody of client funds cleared up one aspect of the regulation but didn't go far enough to illuminate the complicated rule, according to compliance experts....

SEI has new approach to improve technology adoption by advisers ​

July 3, 2018

SEI Advisor Network, a turnkey asset management platform and custodian serving 7,500 advisers, is trying a new approach to developing technology that it hopes will solve the adoption challenge. The firm assembled a team of 25 of its most successful...

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...

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...

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...

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...

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...

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...

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