News, Vision & Voice for the Advisory Community


Schwab IMPACT 2013 is another great bash but picketers and Fidelity siphoned off some precious RIA attention

Attendees were greeted by disgruntled ex-Schwab advisors chanting 'Find out how Schwab terminates' and Fidelity's RIA campaign jumped out at you on every sidewalk

Author Guest Columnist Timothy D. Welsh November 14, 2013 at 6:32 AM
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Departed Schwab retail advisors protested the firm's termination policies on the first day of IMPACT.

Bill Winterberg

Bill Winterberg

November 15, 2013 — 9:42 PM

Brooke and Tim,

I know it’s been two months since I our last debate over the “industry’s largest CRM:”

<a href="http://www.riabiz.com/a/24119436/after-years-of-making-junxures-future-more-cloud-y-friedman-takes-a-big-stage-in-texas-to-explain" rel="nofollow">http://www.riabiz.com/a/24119436/after-years-of-making-junxures-future-more-cloud-y-friedman-takes-a-big-stage-in-texas-to-explain</a>

So again, Welsh cites:

“Greg Friedman, chief executive of Private Ocean and leader of the industry’s largest CRM, Junxure”

But at last week’s T3 Enterprise conference, I learned that Redtail Technology has over 70,000 users of its CRM.

By my count, that makes Redtail the industry’s largest CRM.

And thank you for offering the disclosure about Welsh’s consulting relationships with various parties mentioned in the article. It’s a good start.

Can future disclosures identify current consulting for companies mentioned in articles at the time of publication? Investment newsletter writers have to disclose current positions in stocks at publication, after all.

Bill Winterberg

Bill Winterberg

November 18, 2013 — 1:13 PM

Someone asked for citations, so I offer two in hopes that this solves any confusion:

Financial Planning Magazine 2012 Tech Survey: <a href="http://www.financial-planning.com/fp_issues/42_12/technology-survey-financial-planners-2012-2682068-1.html" rel="nofollow">http://www.financial-planning.com/fp_issues/42_12/technology-survey-financial-planners-2012-2682068-1.html</a>

InvestmentNews 2012 Adviser Tech Survey: <a href="http://www.investmentnews.com/article/20120826/CHART/120829952&amp;issuedate=20120823&amp;sid=TECH0827" rel="nofollow">http://www.investmentnews.com/article/20120826/CHART/120829952&issuedate=20120823&sid=TECH0827</a>

Bill Winterberg

Bill Winterberg

November 18, 2013 — 1:15 PM

And the 2013 update from InvestmentNews: <a href="http://www.investmentnews.com/article/20130707/CHART/130709971" rel="nofollow">http://www.investmentnews.com/article/20130707/CHART/130709971</a>

Mike Byrnes

Mike Byrnes

November 22, 2013 — 5:15 AM

I think this is the best quote from the article…
“Your web address will be more important than your street address.”

If advisors understood this they’d be investing more resources into their online presence. Hope the message eventually sinks in! — Mike Byrnes, President of Byrnes Consulting, LLC, www.byrnesconsulting.com



February 11, 2014 — 4:50 PM

Charles Schwab allowed the fraudulent reporting of a illegal account to leave a single mother of five with a debt from the IRS totalling to date 2.8 million dollars. Despite receiving a Court Order to transfer and reproduce paperwork to correct the illegal reporting and transfer the account to the felon known by them, and despite acknowledging that all signatures on the account documentation were forged, Schwab still refuses to comply in an ethical and moral manner. Schwab has been in receipt of the documents to prove my innocence since 2001 yet they concealed account documentation until 2013.

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Mentioned in this article:

Stark & Stark
Legal Services for RIAs
Top Executive: Tom Giachetti

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

CRM Software
Top Executive: Greg Friedman

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