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Ben Harrison is suddenly alone at top of Pershing’s custody business
The departure of his co-head, Maura Creekmore, leaves the popular executive solely in charge of Pershing's Wealth Solutions business.
Schwab has no plans to bring fractional shares to its adviser platform
Some say the firm is putting its retail platform before its institutional business
Finding errors in PortfolioCenter
Financial advisers at the Technology Tools for Today, or T3, conference this month in Dallas were intrigued when…
No-action letter could signal next step for alts custody
A no-action letter that The Charles Schwab Corp. received last month from the Securities and Exchange Commission could…
Commission addiction limiting adviser breakaways: Survey
More than half of financial advisers at major financial firms like the idea of becoming RIAs, but many…
Tech update: Data standards elusive
Lack of data standards has slowed the evolution of the advisory business. “Things move at glacial speed in the financial services world,” said Bill Harris, who is probably best known for having served as chief executive at both PayPal and Intuit Inc.
Schwab plans to launch bundled 401(k)
In a move sure to drive the trend toward lower-cost 401(k) plans, The Charles Schwab Corp. plans to…
Schwab faces uphill battle in court over fund losses
Charles Schwab & Co. Inc. is likely to lose this week when a California federal judge hears a motion appealing a ruling in a class action that, if left standing, would give mutual fund investors a new line of attack against underperforming funds, fund industry attorneys said.
YieldPlus costs Schwab $119M in settlement
The Charles Schwab Corp. will pay $119 million to regulators to settle charges related to its disastrous YieldPlus bond fund, the company said last week.
Observers mixed on forecast for charitable giving
Even as the U.S. economy slogs through a slow recovery, forcing many Americans to cut back on spending, there are signals that wealthy Americans won't be deterred from making fourth-quarter charitable donations
How clearing and custody firms are taking new regs head-on
With the flood of new regulations facing investment advisers, clearing and custody firms are taking on a larger…
Small foundations eye donor-advised funds
Donor-advised funds are benefiting from small family foundations' closing or suffering drops in endowment assets as the costs and administrative burden of running the foundations have become too great
Ron Carson announces adviser hire for new RIA firm
In a major hire for his new registered investment advisory firm, CWM LLC, Ron Carson has announced that well-known veteran investment adviser Rob Isbitts will become chief investment officer of the firm, which was launched July 1
Custodians putting all the technology pieces together
While both custodians bristle at any suggestion of a race, Schwab Institutional and TD Ameritrade Institutional are charging ahead in their efforts to deliver a unified technology platform to their registered investment adviser clients.
RIAs: The struggle for advisory firms to maintain growth
RIA firms shouldn't expect the good times to last. After benefiting from strong equity markets in 2009 and 2010, registered investment advisory firms will be battling head winds for the next few years as they seek further growth, observers predict
ETFs can present pricing problems
Advisers love exchange-traded funds. What they may not like so much: the execution of ETF trades -- particularly for less liquid funds -- can hit clients in the wallet
Breakaways opt for established RIAs
After 20 years of working within the strict confines of a bank trust department, adviser Robert Kaercher was ready for a change.
How the top RIAs firms are leveraging technology
Top-performing adivsory firms tend to employ fewer staff members, keep a lid on salaries and are more productive — largely as a result of wringing every bit of efficiency out of their technology, according to InvestmentNews' RIA Technology Study, to be published later this month
New regulations spur cheaper 401(k) options
As advisers to 401(k) plans brace for upcoming regulations mandating greater fee disclosure, The Charles Schwab Corp., BlackRock Inc. and TD Ameritrade Trust Co. are among a number of firms that are launching lower-cost options ranging from exchange-traded funds to index-fund-only plans
Citigroup loses head of wealth unit
Deborah McWhinney apparently has had enough of the wealth management business
