FutureAdvisor responds to Schwab's market entry with a truly free offer and big backing from Fidelity and TD Ameritrade
The San Francisco-based RIA is automating parents' investments into 529s, Coverdell ESAs, UTMAs or UGMA for tax-free savings, no paperwork
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 – 4:30 AM
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 – 1:35 AM
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 – 10:33 PM
Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder
The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.
December 27, 2021 – 9:58 PM
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What are you people smoking, Future Advisor takes on Schwab, probably the best marketing company the industry has ever seen and they are just getting started, not to mention Vanguard who just went down market to $50k and had $17B prior in just two years in a pilot program. When all these companies go the way of Learnvest, if they are lucky, what are you going to have to write about.
Your comment is received with gratitude. If we’re not smoking, we are at least drinking the Kool-Aid. I stand by my comments but with the humble understanding that you may be spot on. [Though there is always plenty to write about!]
Still, realize that Vanguard is not a robo-advisor. It is virtually a pure human advisor business, though we, too, lump it in at times in robo-discussions and it competes on price with robos. Learnvest is also heavy on humans.
Schwab is blowing people away in terms of gross asset numbers but arguably its marketing has been to little effect. Virtually all of those assets were won from itself. That could change.