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DFA and TD Ameritrade strike 'strategic' deal with potential to shift RIA custody power axis

Tension in the three-way relationship between Fidelity, Dimensional Fund Advisors and the RIAs who use both vendors creates opening for Tim Hockey

Author Lisa Shidler April 24, 2017 at 6:33 PM
no description available
Christopher Van Slyke: That pricing is very persuasive. As fiduciaries we'd have to consider TDA the favorite.

RIA Custodians

Jim Cannon

Jim Cannon

April 24, 2017 — 8:29 PM
It is not surprising, but interesting how a firm like DFA that has a long range objective of always seeking to find ways to improve client outcomes can create arrangements such this one. The buzz around our firm has been incredible about this change and now we're faced with how to address the significant disparity that exists across at other custodians where our clients at Dynamic Wealth Advisors hold assets. There does become a point at which it is not appropriate to hold assets at certain custodians (or at least to recommend to clients that they not hold certain assets). Like Mr. Van Slyke noted, I think we may have reached that with DFA's arrangement with TD Ameritrade.
Stephen Winks

Stephen Winks

April 25, 2017 — 4:33 PM
Finally, an awaking to the client's well being as a catalyst to innovation. On this basis, the fiduciary duty of the advisor and professional standing in advisory services will endure for all the right reasons. SCW

Related Moves

August 8, 2019 at 6:32 PM

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

Another A-list RIA Schwabbie lands on his feet -- this time at DeVoe & Co. -- after TD Ameritrade merger displacement of 2,000-plus

Tony Parkin takes the reins as president of the San Francisco M&A shop and reunites with ex-Schwab boss who left 14 years ago

May 10, 2024 at 1:29 AM

DFA undergoes a sea change -- literally -- with a fancy yacht soirée, cigars and champagne as it attempts to sail away from its mutual fund image into the world of ETFs

Having just about staunched net outflows with its embrace of ETFs, DFA is embarking on a cultural shift as it tries to figure out how to sell more, even though it's less unique than it used to be.

March 13, 2024 at 1:46 AM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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