Ten questions for Tom Nally as he gets going filling Tom Bradley's shoes
TD's new RIA chief is drawing a target on the IBD back and he challenges the 'rollups' to better define their value
Wonderful opportunity to live and manage through a transformational period of innovation that reorders the industry around the consumer’s best interest and fiduciary standing.
Whether FINRA is the advice SRO or not, every custodian must address the deepening divide between brokerage where there is no accountability or ongoing responsibility for recommendations and advisors who are accountable and responsible. This could not be a better time to differentiate brokerage and custodial services in support of expert authenticated fiduciary counsel.
The singular challenge broker/dealers and custodians face is can they manage trade execution cost as a cost center on behalf of the consumer in the consumer’s best interest in support of fiduciary standing. If fee for service should not emerge in support for fiduciary standing, then structurally an RIA is required to actually enable fiduciary standing for advisors so their fiduciary duties can be fulfilled.
Will broker/dealers and custodians create RIA affiliates in support of fiduciary standing, or will a new generation of large scale, institutionalized support for fiduciary standing become a seperate stand alone business.
Custodians will have a lot to say, which can accelerate innovation in support of fiduciary standing.
Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'
Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms
December 10, 2019 at 2:05 AM
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
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