TD Ameritrade will make iRebal software available free to all its RIA clients
The custodian may disrupt both the RIA technology and RIA custody businesses -- but not inexpensively
Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one
The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says
October 11, 2022 at 12:40 AM
Noreen Beaman steps down as president of Orion Advisor Solutions after Brinker migrates to Orion software and enterprise deals 'prove out'
The former Brinker CEO oversaw an 18-month transition of her then $26-billion TAMP and will remain as vice chair of the company after 'mutual' decision on role changes.
February 10, 2022 at 2:22 AM
Brad Shepard unexpectedly resigns from Orion Advisor Services after 10 months, and his chief strategy officer position will remain vacant, the company says
The Nashville, Tenn. executive came aboard to create a 'go-to-marketing strategy' for Brinker, HiddenLevers and legacy units but gave his notice this week.
January 7, 2022 at 11:40 PM
Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock
The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'
January 6, 2022 at 10:33 PM
See more related moves
Top Executive: Benjamin Welch
Top Executive: Tom Nally
This comes as no surprise. Rebalancing has been on an inevitable track to becoming a commodity. A slight modification to Stuart DePina’s comment with regard to rebalancing is a “must have” for advisors.
Rebalancing is a “must have” for any financial services platform that wants to remain a significant player. It is part of the tools in the toolbox that sales and service teams alike need to attract and retain clients.
Applications such as rebalancing and streamlined trading are key influencers in attracting new business, businesses that are progressive thinking and looking to scale.
I couldn’t agree more with Eric Clarke’s comments on process efficiency gains. Of course I am a bit biased, however the results are clear and the facts indisputable; rebalancing brings the largest ROI in efficiency and cost-effectiveness over any other technology system dollar for dollar..
TD’s announcement puts pressure on all existing services platforms that lack rebalancing functionality or whose technology is significantly dated. Rebalancing software, unlie trading and CRM, is a relative newcomer so there is plenty of run rate left in most product backlogs of the current independent rebalance players.
TD remains the only custodian with a rebalancing platform that is sophisticated enough to manage larger firms with specialized needs. It will be very interesting to see how good of a job Ben’s team has down with the repurposed web version of iRebal.
I am looking forward to see what happens next!
Peter Giza | Managing Partner | Spitbrook LLC