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Articles tagged "Pershing Advisor Services"


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Peter Mallouk: We would consider another custodian.

Peter Mallouk is exploring new RIA custody vendor for his $300-billion firm, despite new Fidelity referral deal; this time around upstart brands are in the running

The founder and CEO of the national RIA in Kansas was tight with TD Ameritrade and says although no 'dominant' No. 3 custodian has emerged he is optimistic that it's imminent.

May 9, 2024 at 1:31 AM

Jason Wenk speaks to RIABiz by Zoom: "We're a lot bigger than people realize. I don't think it's going to be the case in 10 years."

With Vanguard and Venrock as backers, Altruist is taking careful aim at RIA custody power, with SSG a big building block and an even bigger sign

The Los Angeles custody startup is playing small ball and bully ball with an approach aimed as much at TAMPs and fintechs as RIA custodians.

March 16, 2023 at 4:29 AM

Tim Buckley:  'Establishing a new office in Dallas reflects our continued commitment to hiring top advisor and technology talent.'

Vanguard Group to open CFP-poaching battle front in Schwab-Fido-Pershing backyard, after its human RIA grows AUM 72% to $231 billion

The Malvern, Pa, manager of $7.5 trillion moves aggressively on Dallas metro area where its big rivals employ tens of thousands, showing Vanguard CEO Tim Buckley's faith in the RIA business model

May 21, 2021 at 2:30 AM

At Goldman Sachs, Emily Schlosser was 'head of change' for its global markets division.

Pershing poaches a chief operating officer from Goldman Sachs, citing her experience doing client-onboarding revamps as a key

The Jersey City, N.J., clearing and custody company hired Emily Schlosser to fill the talent gap when Lori Hardwick left in 2017

July 23, 2020 at 11:19 PM

Walter Bettinger:  Some employees who currently telecommute, may be required to work on-site as we manage our remote access capacity.

As COVID-19 crisis grows, Schwab charts own course, orders office workers to stay put, while Fidelity, other firms urge employees to work from home

Fidelity CEO Abby Johnson tells 45,000 staff to stay home, if possible; Schwab CEO Walt Bettinger says it's neither practical nor technologically feasible for most of his 19,000 staff to telecommute

March 16, 2020 at 4:09 PM

Ben Harrison: No other custodian is doing this [cash sweep to high-yield third parties] because it cuts too much into their revenue stream.

Pershing finally matches Schwab on zero-fee trades but it offers big incentives to pay a subscription fee to score perks like auto-sweep to in-house Flourish/Stonecastle-type FDIC cash manager

The Jersey City, N.J. custodian is seeking to disrupt custody's Big Three on value and price by giving RIAs a much better cash choice than having it swept to an in-house bank

March 6, 2020 at 3:34 AM

Mark Tibergien's longevity, pedagogy, warmth, mentorship and fount of fresh wisdom makes many people in the industry think nothing of describing him as "great."

The great Mark Tibergien is set to step down from CEO of Pershing Advisor Services to make way for heir apparent Ben Harrison

The RIA custody chief is a tireless and personable leader, consultant and guru who leaves BNY Mellon's RIA custody unit as its mission radically shifts

March 4, 2020 at 4:16 AM

Todd Gibbons was as 'surprised' as everyone else to find himself suddenly in the BNY CEO chair

In RIA custody milieu, Charlie Scharf's BNY Mellon exit for Wells Fargo is latest unforeseen vapor trail after Lisa Dolly, Tim Hockey, Terri Kallsen, Andy Gill and others fade into the firmament

The CEO-for-rent will face a monumental challenge turning around Wells Fargo, but perhaps not as bleak a landscape for profit margins; Is the RIA free ride coming to an end?

October 1, 2019 at 1:06 AM

Jim Crowley: 'What is not changing is our strategy.'

In extreme air conditioning, Jim Crowley put industrial strength stamp on Pershing INSITE, but admits his custodian needs to get stronger in end-user software

Pershing COO, who took CEO job in May following Lisa Dolly's abrupt departure, made the event zero in on technology, yet again

June 18, 2019 at 3:35 AM

Bill Hamm: The best laid plans will never happen because it’s the nature of the beast.

After the storm of divorce, LPL Financial leaves Independent Financial Partners diminished in size beyond imagining

IFP only retained a third of the up-for-grabs assets it shared with LPL, but CEO Bill Hamm sees silver linings

June 17, 2019 at 9:40 PM

BNY Mellon CEO Charles Scharf has a catbird seat for viewing the success of the RIA business

BNY Mellon's new CEO is an RIA fan, and Pershing Advisor Solutions made a big personnel move to reflect it

Charles Scharf loosened the Pershing purse strings for Mark Tibergien who created 'head of platforms' position for Christina Townsend

March 12, 2019 at 10:14 PM

Dan Seivert (r.): The private equity guys are just phoning it in and not getting to know advisors.

Dan Seivert and Mark Tibergien karate chop private equity investors for being little more than financial engineers in RIA orbit

The CEO of ECHELON and the CEO of Pershing Advisor Solutions describe the investors like hedge funds that make savvy purchases of depleted oil wells

October 8, 2018 at 7:22 PM

Kayla Kennelly: [I] became infatuated with the [Facet] mission. When the opportunity came to take part in it, at a time in my personal life where it made sense, I decided to go for it.

Facet Wealth appoints Mark Tibergien's 'reverse mentor,' Kayla Kennelly, to woo cast-off RIA clients, a boon to a mass affluent strategy that's failed more than once

Kayla Kennelly will play a key role for Anders Jones' startup, which got $33 million of VC money two weeks ago to accelerate its plan to roll-up small, unwanted RIA accounts

September 25, 2018 at 10:31 PM

Ben Harrison: This is a very conservative number. If we were to continue with hybrid the number would be considerably higher.

The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year

Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity

June 12, 2018 at 5:01 PM

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