News, Vision & Voice for the Advisory Community


As Bernie Clark and Walt Bettinger go on offense, LPL and Wells Fargo names get named and a B2C robo dry-up gets foretold at Schwab IMPACT in San Diego

The Schwab CEO, buoyed by his robo, robust quarterly results and DOL fallout at competitors is on offense -- a state of being RIAs can relate to

Author Guest Columnist Tim Welsh October 28, 2016 at 6:41 PM
no description available
Walt Bettinger (with Bernie Clark): It’s fairly safe to say that most of the rest are available for the right check.

Stephen Winks

Stephen Winks

October 28, 2016 — 11:02 PM
Bettinger sees it coming, Indeed the fastest route to enhanced performance is elevating the weakest link. When you look at Wall Street still fighting the best interest of the investing public, you see vulnerability. The individual RIA wins big as only the firms structured to support expert advisory services and professional standing will win market share. Savant, CapTrust, Edelman, and a relatively small number of Mega RIAs. in the hundreds with scale and technical acumen will win the day. SCW


October 31, 2016 — 2:27 PM
Tim you need to look up the definition of 12b-1 fees. They are paid to the broker dealer (Schwab), by shareholders of the mutual fund. Asset managers make their money on management fees, not 12b-1 fees. <a href="https://en.m.wikipedia.org/wiki/Mutual_fund_fees_and_expenses" rel="nofollow">https://en.m.wikipedia.org/wiki/Mutual_fund_fees_and_expenses</a>

Related Moves

Walt Bettinger axes current and former Schwab retail chiefs, Terri Kallsen and Andy Gill; funnels responsibilities to Jonathan Craig, for now

The Schwab CEO is 'restructuring,' which includes cutting the Chairman's Club program that sent 200 top performers to Hawaii on a free junket

July 24, 2019 at 12:53 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

LPL makes 'Sixth Sigma black belt' ex-wirehouse counsel its chief legal officer, right after purchasing another full service broker. LPL says there is 'no connection,' and she was poached from Google

The Fort Mill S.C. broker dealer added Crown Capital Securities' captive brokers in Orange County, and is hiring Althea Brown, fresh off 11 years at Google

July 28, 2023 at 3:11 AM

See more related moves

Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo