RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

All eyes turn to Fidelity to see if it cracks in all out price war over trading commissions, but for now Abby Johnson is stubbornly refusing to buckle -- bolstered by RIA reassurances

A Morgan Stanley analyst assures Wall Street Boston giant must match Charles Schwab & Co's free trades; Instead, says Fido's David Canter, the company is listening to RIAs, who fear poor service more than ticket charges

Author Brooke Southall October 4, 2019 at 1:44 AM
Admin:
no description available
David Canter (off hours, on stage with his rock band): That’s something that we all need to think about, and it's getting lost in the headlines.

John L.

John L.

October 4, 2019 — 3:43 AM
Didn't think the RIA's pay $4.95 per trade at Fido....
CS

CS

October 4, 2019 — 6:04 PM
As a DIY retail client with Fidelity, and also a financial advisor, my nightmare would be that Fidelity follows with $0 trades on everything...Then, maybe 2 to 5 years from now, my accounts are put on a subscription model, whereby I pay an annual fee for Fidelity to hold my assets in return for unlimited $0 trades, research, options, etc. I prefer the $4.95 here and there to a subscription model.
smits

smits

October 4, 2019 — 6:54 PM
"Instead, says Fido's David Canter, the company is listening to RIAs, who fear poor service more than ticket charges." Ha! Schwab combines better service/systems for RIAs, AND free trades!
Jay Reed

Jay Reed

October 6, 2019 — 6:21 PM
Smits, I wonder if you work for Schwab???? Any impartial investor or RIA firm knows that Fidelity outperforms Schwab in almost every metric.
ScottB

ScottB

October 7, 2019 — 6:06 PM
As the old saying goes" Pay me now or pay me later." The $50-$100 I pay each year in trading charges is something that is within my control and I would rather pays for Fidelity's services in this fashion, as opposed to being forced into a subscription-based "premier" service for the services that I now pay for through my trading activity.

Related Moves

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 at 10:33 PM

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

Oisín's snippets: Charles Schwab brand goes up on Omaha's TD Ameritrade stadium, home of college baseball world series • Interactive Brokers lands an RIA custody insider, Charlie Latimer, to climb the custodian ladder

The TDA brand lives on until the techies figure out how to make two systems into one, but change is in the air in Omaha, while Interactive Brokers gets a leg up in the custody business with a new hire.

December 27, 2021 at 9:58 PM

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 at 5:39 PM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo