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
Related Moves
Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'
Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms
December 10, 2019 at 2:05 AM
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 at 4:30 AM
Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation
Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.
November 3, 2023 at 3:49 AM
Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond
The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30
August 22, 2023 at 12:46 AM
See more related moves
TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
