Schwab spells out the details of its franchise plan
The San Francisco broker is making five-year deals with dozens of financial advisors from across advisory channels
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 – 1:35 AM
Marc Spilker adds Matt Brinker as chess piece -- and partner -- in what he calls a 'very selective' talent add to build platform-for-RIA platforms outside Wall Street
Merchant Investment Management's executive chairman wants good people good at their job and Brinker likes having a breakaway Goldman partner rather than one captive to the Wall Street giant.
January 15, 2020 – 2:42 AM
Goldman Sachs & Co. appoints Rachel Schnoll to yank off United Capital band-aid that Joe Duran didn't -- making FinLife work with non-UC applications
The New York-based investment bank has the cash and people to do the combinations -- especially Goldman software -- that the roll-up's founder couldn't afford or didn't want to advantage
November 8, 2019 – 4:52 AM
Goldman Sachs closes United Capital deal and Matt Brinker, Joe Duran's wingman, exits with social media swan song on same day
The M&A chief's departure from the Newport Beach, Calif. roll-up may signal that its rolling-up days are over
July 18, 2019 – 6:13 PM
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Schwab RIA candidate
So explain to me as a prospective RIA, why should I have any discussions with a custodian whose growth strategy includes direct competition with my business? Let’s cut the spin – why would I hire Schwab as my custodian if the office down the street is actively pursuing my market with a big Schwab name on the building?
Sounds like Edward D Jones meets Charles Schwab. The firm that should be concerned about this strategy is LPL not Schwab RIAs.
Frederick Van Den Abbeel
I wonder how the employees working in Schwab’s retail branches feel about this initiative? Could a “not as good performing” employee branch be converted to a franchise operation?
Although they said they didn’t want to use internal Schwab employees initially, why wouldn’t Schwab want to groom and train its best producers to open a Schwab franchise?
I’m phoning TD Ameritrade for their joint marketing material right now. Schwab has done nothing for me for 9 years, they even charge to go to their annual event. With 20% of our assets away, why not invite clients to move even more?