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Altruist hopes its fintech muscle helps it compete against custodial giants
The three-year-old fintech platform brings its custody and clearing business in-house for what it promises will be a fully integrated digital experience for RIAs.
Schwab’s game plan for a TD touchdown
Perfection is impossible for a data migration of this magnitude, but Schwab’s leadership is ready to tackle any technical hiccups on the field.
Fintech Bytes: TD Ameritrade updates trading software, Vanguard enhances robo
Plus Pontera integrates with Envestnet, Tifin announces Morningstar collaboration, and Hearsay adds features to Sites.
Growth or flexibility? Fintechs must choose
Fintechs may find themselves mimicking some of the same strategies advisors use to demonstrate the value they bring to clients during difficult markets.
Schwab promises to support advisers through integration hiccups
The 2022 Charles Schwab Impact conference brought 5,000 attendees, including 2,500 financial advisers, to Denver this week.
Schwab sets date to transition advisers, clients and assets from TD Ameritrade
Tom Bradley of Schwab reiterated his promise to advisers that there will be no repapering of clients and that most firms will be able to keep their service teams.
Fintech Bytes: Morgan Stanley AI, Docupace hires Lori Hardwick, and Franklin Templeton integrates LifeYield
Here are some of the other fintech headlines you may have missed this week.
Schwab loses adviser fintech leader Jon Patullo to Apex
At TD Ameritrade, Patullo oversaw the strategic direction of adviser-facing technology and spearheaded the open-architecture approach to third-party integrations.
Schwab exec updates progress on integrating TD Ameritrade technology
Alison Dooher, head of digital adviser solutions at Schwab Advisor Services, gives a look at the brokerage's integration road map.
Schwab sued over payment for order flow
Three clients allege the brokerage didn’t give them the best prices for their orders.
Creative Planning, Schwab, Fidelity fighting adviser’s collusion charges
The firms named in the adviser's complaint go to 'corrupt and malicious lengths ... to keep their illicit profit mill churning,' according to the lawsuit.
Customer wins more than $450,000 from TD Ameritrade over volatile investment
Ian Delahunty bought a leveraged exchange-traded note and owned it for 199 days rather than the day or two it was meant to be held.
Advisers are thrilled about Elon Musk’s bid to buy Twitter
The advice industry's usual fears and concerns around tech M&A have been replaced with unbridled enthusiasm.
Schwab to offer T. Rowe institutional shares commission-free
Five years after competitor Fidelity launched its no-transaction-fee platform for institutional shares, Schwab is following suit in a similar deal with T. Rowe Price.
Skip Schweiss named CEO at Sierra Group
Schweiss stepped down as president of TD Ameritrade Trust Co. and managing director of advisor advocacy in 2020, after 12 years with the company.
Custodians tap into a rising tide in the RIA industry
Fueled by gains in the independent channel, tech-friendly firms are tweaking the custodial model and posing new challenges for incumbents.
TD’s 401(k) business for RIAs soft closing April 1
The TDA Retirement Plan will be closed to new clients at the start of next month, with business instead going to Schwab’s Retirement Network for Advisors, a company spokesperson said in a statement.
Former TD Ameritrade exec to head innovation for Fed
Sunayna Tuteja will assume a new role as the central bank’s chief innovation officer.
Schwab cuts 200 more jobs amid TD Ameritrade acquisition
It's the second round of announced layoffs after last year's mega merger. In October, Schwab said it was laying off 1,000 employees, or about 3% of the combined workforce.
Brokerages spark outrage from lawmakers after halting GameStop trades
Trading platforms issued restrictions on GameStop, AMC and other shorted stocks that surged to unprecedented highs this week. Lawmakers like Rep. Alexandria Ocasio-Cortez, D-N.Y., and Sen. Ted Cruz, R-Texas, expressed deep concern.
