News, Vision & Voice for the Advisory Community


Walt Bettinger sugarcoats nothing to TD Ameritrade RIAs about re-papering or technology and he calls 'modest' the importance of RIA revenues to Schwab

The Schwab CEO stressed his soon-to-be Fort Worth, Texas-based firm's emerging alpha status: 'We're on offense. We press those advantages'

Author Lisa Shidler November 26, 2019 at 2:09 AM
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Walter Bettinger: 'There may be some re-papering required and some where it’s not required.'

RIA Custodians

Peter Giza

Peter Giza

November 26, 2019 — 6:19 PM
We would all be fooling ourselves to think that this hasn't been in CS' strategy for quite some time. In such chaotic times it would be equally foolish to jump to decisions, just as it would during spotty market volatility, to make a knee-jerk reaction as to whether or not to stick with CS/TDA - at least until the dust settled and things are less chaotic. In my experience working with all firms of all sizes and types that are multi-custodian approximately 60% custody at CS and TDA. I am one small data point but I've heard that number commonly from many other sources. Also that is from several types companies that I have been associated with from trading to UHNW reporting. All I can say at this juncture is hang onto your hats everyone because it's going to be one heck of a rodeo. Pete Pete Giza | CPO | AdvisorPeak
John Mannix

John Mannix

November 26, 2019 — 6:59 PM
What a great and much deserved win for Pershing Advisor Solutions. Mark Tibergien and his team are the only true partner with RIA's and it has been that way for a long time. How and why advisors work with Fidelity and Schwab is absolutely absurd. Just look at their recent advertising aimed at the wealth management clients that we all work so hard to attain and retain. Keep up the great work Pershing and thanks for being a great partner!

Related Moves

December 20, 2023 at 1:52 AM

Chuck Schwab reveals Part B, doubling-down on Walt Bettinger by making him co-chair, a day after Part A -- wagering $15 billion from the Schwab corporate treasury on the CEO's future leadership

The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.

July 30, 2022 at 12:41 AM

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

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

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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

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