With Tom Bradley heading a new high-net-worth effort, TD Ameritrade will compete with RIAs, at least obliquely
The Omaha-based broker will use the ex-RIA chief to go after $1-million-plus accounts
Stephen Winks
The TDA HNW Brokerage model might have more significant impact if it were a HNW Advisory model. Think of underserved advisors stuck in a brokerage business model who would benefit from a scalable expert advisory services business model, not possible in a brokerage format. If it plowed new ground in supporting advisory services (more modern approach to portfolio construction, advanced technology, work flow management, prudent process) that gave brokers control over their value proposition, cost structure, margins and professional standing it would immediately outdate the brokerage format and fill the industry’s leadership vacuum in advisory services. Massive market share would be put in play.
Wouldn’t it be great if there were a platform that actually supported ongoing fiduciary duty in the best interest of the investing public without fear of fiduciary liability because it would be built around the statutory requirements demonstrably in support of fiduciary standing.
SCW
Stephen Winks
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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
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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
