TD Ameritrade and Schwab at odds on franchise model
TD's CEO Fred Tomczyk questions Schwab's approach to greater distribution using independent contractors
Elmer Rich III
There are proliferating niches in all financial services markets (they’re called “market segments”). Chances are each firm is spot-on for their market segment, but dead wrong for the others’.
It’s like tastes in ethnic foods – whose wrong? Well, the Ethiopians eat sheep’s eyeballs. That’s wrong.
Frederick Van Den Abbeel
Regardless of the approach it seems to be a very slippery slope. The conflicts of interest are quite obvious — and the line seems quite thin! Being able to speak from both side of one’s mouth is a skill the retail custodians have perfected.
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 at 4:30 AM
A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says
The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.
December 20, 2023 at 1:52 AM
Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation
Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.
November 3, 2023 at 3:49 AM
Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond
The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30
August 22, 2023 at 12:46 AM
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