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What a close reading of Barron's cover story on Walt Bettinger reveals

The Dow Jones newsweekly puts a sunny spin on the Schwab CEO's accomplishments but reveals sensitive succession and RIA issues, too

Author Sanders Wommack November 5, 2014 at 6:18 AM
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Walter Bettinger showed bursts of emotion to the Barron's writer. (Photo: Dow Jones)

Walt Bettinger


David Pottruck


Arthur Cohen


Dyan Machan

Stephen Winks

Stephen Winks

November 10, 2014 — 9:47 PM

To the chagrin of its competitors, industry leadership will be based on how well a firm serves the best interests of the advisor and the investing public which they serve. This has little to do with product distribution, but points out the impediments of the brokerage business model in giving the advisor control over their value proposition, cost structure, margins and professional standing.

Two of the big four custodians are predominated by their brokerage clearing business which gives Schwab and TD Ameritrade a huge relative advantage in playing to the best interest of the advisor by advancing (a) a superior advisor value proposition, (b) lower cost structure, (c) higher advisor margins and (d) professional standing which are at cross purposes to the brokerage business model. Schwab and TDA have a most profound advantage in advancing advisory services innovation. Thus Walt Bettinger promises to be a most significant figure in advancing the best interest of the investing public and the advisor and will win massive market share from those that can not compete in kind in the consumer’s and advisor’s best interest.


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