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TD Ameritrade calms the RIA Twitter storm but not questions about the spreads on the ETFs replacing the super-liquid Vanguard and Core iShares

The additional 60-day extension lets advisors breathe but even Wall Street analysts wonder just how far TD Ameritrade should go in inflaming 'consternation' of 'golden goose' RIAs

Author Lisa Shidler
October 27, 2017 at 12:45 AM
no description available
David LaValle: ​There are so many factors. Some of them we can be very perceptive about and others are more difficult to estimate.

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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

Alan Moore is the No. 2 busiest man in the RIA business and he just convinced the No. 1 busiest man to budget $200,000 to hire a 'rockstar' to replace him

Alan Moore is CEO of both XY Planning Network and AdvicePay -- and he has three young kids; Michael Kitces agreed to let him hire a full-time replacement CEO for AdvicePay -- with some giant reqirements for the new exec.

February 14, 2023 at 3:15 AM

Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one

The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says

October 11, 2022 at 12:40 AM

Five RIA Doubletakes: An RIA-only law firm breaks away • Kitces launches picker of 'best of breed' RIA software bundles • Vanguard targets 2070 just as media targets TDFs • SEC fishing for RegBI Scofflaws, including RIAs • CFP appoints first African-American chair

RIA Lawyers will reject RIA custodians• Kitces Nascar montage is now interactive and helpful • Vanguard's super long TDF draws critics• SEC supply lines are stretched with new battle front • Kamila Elliot is ex-DFA, diverse and calling CFP shots

January 12, 2022 at 3:13 AM

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

Consulting Firm
Top Executive: Michael Kitces

Creative Planning
RIA Serving Other RIAs
Top Executive: Peter Mallouk, JD, MBA, CFP®



October 27, 2017 — 6:43 PM
Unbelievable arrogrance. And huge screw up by TD. And scramble to recover is very defensive. Big ding to culture and relationship with RIA community. Pity.
Ben Grossbaum

Ben Grossbaum

October 27, 2017 — 6:53 PM
So RIA models sell Vanguard take the capital gains tax loss and switch into State? TD not concerned with Fiduciary implications? RIA on your own, baby?
Stephen Winks

Stephen Winks

October 27, 2017 — 8:30 PM
The RIA model and brokerage model are on a collision course. The treatment of trade execution as a cost center to be minimized and the technical support of expert fiduciary standing are not possible in conventional brokerage and represent a wonderful opportunity for transformational innovation which will reorder the financial services industry. There are several large scale RIAs with the potential of becoming a national RIA with a far lower cost, preemptive .value proposition affording expert fiduciary standing authenticated back to statutory fiduciary duty. SCW
Vang Schnorkelman

Vang Schnorkelman

October 30, 2017 — 3:31 PM
Just use mutual funds folks. No spreads.
Stephen Winks

Stephen Winks

October 30, 2017 — 9:56 PM
Vang, Mutual funds are the least appropriate investment vehicle for portfolio construction, they are very expensive, make it impossible to manage real time client holdings data, are tax inefficient all of which are important determinants of professional standing in advisory services. SCW

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