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Scottrade proclaims itself the 'compliance custodian,' partnering with RIA In a Box and staffing a hotline with ex-regulators

But the mega-custodians are having none of it, saying the initiative is good as far as it goes, but lacks the horsepower to tackle the big questions

Friday, December 7, 2012 – 5:01 AM by Lisa Shidler
Admin:
no description available
Brian Davis: This isn't meant to be a deep dive, but to answer those yes and no compliance questions RIAs have on a day-to-day basis.

Related Moves

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

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 – 2:02 AM

See more related moves

Mentioned in this article:

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

NCS Regulatory Compliance
Consulting Firm
Top Executive: Mark Alcaide, COO/Partner

RIA in a Box
Compliance Expert
Top Executive: GJ King

Aurora Compliance Solutions
RIA Set-up Firm
Top Executive: Edward Romanowsky




Blane Warrene

Blane Warrene

December 7, 2012 — 5:58 PM

It is great to see firms trying to make this easier. Like all things in our industry – over-analysis can lead to paralysis and making things more complex than they need to be. Having been regulated working within the industry for years – and now serving the industry in areas related to compliance – this is a great step to making solving compliance challenges more approachable. Every problem does not require an army of people and lots of moving parts. Often – just getting a question answered, asking for and receiving a framework to follow within a compliance plan will make all the difference. Kudos to Scottrade for trying to find the easy button.

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