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Small RIA custodians eye 400-plus RIAs who may come into play thanks to TD Ameritrade-Scottrade deal -- but with a cultivated calm

Accepting RIA orphans is less automatic than more-the-merrier policy of RIA inclusion that traditionally held sway at TradePMR, Folio Institutional, Trust Company of America, Equity Advisor Solutions and Shareholders Service Group grow, learn and seek profits

Author Janice Kirkel June 12, 2017 at 7:36 PM
Admin:
no description available
Sean Gultig: We’d love to talk to them.

Stephen Winks

Stephen Winks

June 21, 2017 — 7:35 PM
Large RIAs like Ric Edelman have $5,000 investment minimums and afford an extremely high level of counsel, thus wouldn't the lower end .advisors being culled by custodians be better served by RIAs who have an interest in training for a bigger share of comp than custodians? SCW

Related Moves

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 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

Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance

Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.

March 25, 2023 at 1:32 AM

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

Scottrade Advisor Services
Asset Custodian
Top Executive: Brian Stimpfl

E*TRADE Advisor Services
Asset Custodian
Top Executive: Joshua Pace

Folio Institutional
Asset Custodian
Top Executive: Greg Vigrass

Equity Advisor Solutions
Asset Custodian
Top Executive: Sean Gultig

TradePMR
Asset Custodian
Top Executive: Robb Baldwin

Shareholders Service Group
Asset Custodian
Top Executive: Peter Mangan



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