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Big advisors drive solid year for breakaway wins at Schwab, Fidelity, Pershing and TD

Aggregators drive momentum in 2011

Author Brooke Southall January 27, 2011 at 2:54 PM
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Scott Dell'Orfano: The average is well up from what we saw at this time last year

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Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings

Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'

January 19, 2023 at 3:31 AM

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 at 2:02 AM

Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift

Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.

March 13, 2020 at 10:36 PM

Behind the scenes, Ben Harrison's rise to replace Mark Tibergien at Pershing was more shock and awe than a symphonic succession

Harrison's appointment was baked in the cake -- or not -- and Tibergien departed with Swiss-watch precision in Moss Adams-style--or not.

March 13, 2020 at 7:22 AM

See more related moves

Mentioned in this article:

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

Jeff Spears

Jeff Spears

January 27, 2011 — 3:25 PM

Great article.

Our experience is that the larger broker teams are not interested in the roll-up business models because the economic benefits of owning their own practice versus going a roll-up the are too great. I agree with Mark Tibergien.

As my mentor always told me, “that’s what makes a market”.

Elizabeth MacBride

Elizabeth MacBride

January 27, 2011 — 3:29 PM


Who is your mentor? I’m curious.

Jeff Spears

Jeff Spears

January 27, 2011 — 3:35 PM

Wallace Hall Sr. – Founder and CEO of a brokerage firm in Dallas (my hometown). Mr. Hall is in his late 70’s and still comes into the office every day.

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