What headway Pershing's RIA unit is making after four years under Mark Tibergien
98 RIAs joined the Jersey City custodian in 2010, up from 35 RIAs in 2009 and 24 in 2008
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 – 7:22 AM
Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology
The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.
March 11, 2020 – 7:58 AM
What to make of Pershing CEO Lisa Dolly's surprise exit and the sped-up entry of 35-year Pershing veteran Jim Crowley
When Dolly and Lori Hardwick were promoted, bing, bing, in 2016, Pershing experienced a lift but here comes 'charismatic' and 'RIA-familiar' Jim Crowley
May 9, 2019 – 2:18 AM
Mark Tibergien is one of the industry’s best leaders and this article is evidence that his leadership is paying off!
Mike Byrnes, President
Byrnes Consulting, LLC
Frederick Van Den Abbeel
Almost all RIAs require bank custody solutions,” he said. “There are certain reasons – some regulatory – why end clients require a bank custodian rather than a brokerage custodian. We’re a brokerage custodian owned by a bank.”
I agree with Mr. Tibergien quote above for the same reason TradePMR’s custody services have selected to partner with First Clearing LLC / Wells Fargo Bank.
Many of the Wirehouse Advisors for the longest time are able to leverage both bank, trust and traditional investment services and for RIAs to compete — such capabilities are essential.