Bill Winterberg
Let’s face it: when advisors place client assets with a custodian, they do it so they can trade with discretion and simplify fee billing. Performance reporting is more of a courtesy to clients rather than a requirement unless the advisor has custody of client funds.
Show me a custodian that supports robust trading capabilities with Straight Through Processing, multiple fixed-income trade orders (try buying lots of CDs and bonds through Schwab’s website; it’s impossible!), and comprehensive fee billing features, and I’ll bet they’ll win business from RIAs large and small.
But on the other hand, changing custodians is a monumental task not to be taken lightly. It’s a nightmare attempting to manage hundreds or thousands of account applications, ACAT requests, proprietary funds, and all the other details. Leading custodians assign a transition team to help with the process, but I imagine that most advisors don’t look at changing custodians with much excitement.
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Although the 15- and 17-inch MacBook Professionals incorporate Intel’s new Core i5 or Core i7 cell processors, the 13-inch MacBook Pro carries on to implement the Main two Duo line of processors. While in the 13-inch size, Apple offers a two.4GHz dual-core processor in the $1199 model, and also a two.66GHz dual-core processor inside the $1499 product (up from two.26GHz () and 2.53Ghz () inside the previous generation, respectively). Each individual has 3MB on-chip L2 cache shared amongst the 2 cores.
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