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Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'

Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms

Author Brooke Southall December 10, 2019 at 2:05 AM
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Tom Bradley brings experience, goodwill and a chip on the shoulder born of being cut by the firm Schwab is set to consume.

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People Moves

Jeff Spears

Jeff Spears

December 10, 2019 — 11:58 AM
The technology solutions will be a huge upgrade for Schwab. It will be instructive to watch what power Tom has to make decisions. Successful mergers implement solutions from the acquired firm. The only person that can insure that happens is Senior Schwab leaders.


December 10, 2019 — 1:32 PM
That's certainly a rich comment from Schwab, in light of their actions disrupting the lives of thousands of families and RIA firms around the country. As an RIA with 175m under management, we're uncertain on where we fit into the puzzle. We are receiving multiple solicitations each week from both large and small custodians.
alvin mckerracher

alvin mckerracher

December 10, 2019 — 7:58 PM
looking for good times
Dark Knight

Dark Knight

December 10, 2019 — 9:05 PM
Why do you keep giving Tom Bradley such a pass on the RIA changes at TD Ameritrade? You have written multiple articles that Tim Hockey didn’t understand RIA’s and one of the principal changes you point to was the decision to change the advisor direct fee from 25% to 25 bps in March of 2017. Bradley was the head of retail at that time, isn’t it reasonable to assume that he would be involved in such a major decision? You guys really love to pump up Tom, and usually at Tim’s expense. It will be interesting to see what unfolds over the next few months. There are a lot of moving pieces involved in this merger and I am sure there will be surprises along the way.

Related Moves

June 7, 2024 at 11:17 PM

Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once

The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.

May 25, 2024 at 2:45 AM

TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor

The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing

July 23, 2019 at 4:30 AM

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TD Ameritrade
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Top Executive: Tom Nally

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