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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.

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See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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

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