With Robinhood pacing the new norm, Interactive Brokers outpaces Schwab in race to give RIAs free fractional-share trades
The Greenwich, Conn., discount broker -- with Robinhood promising to be next -- has already pulled the free-fractional lever for retail investors and plans to make the time interval for RIAs between promise and delivery -- i.e. vaporware -- far shorter than the Schwabitrade merging conglomerate.
ACRONYM
brooke
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Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor
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April 29, 2023 at 1:36 AM
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Interactive Brokers
RIA-Friendly Broker-Dealer
Top Executive: Thomas Peterffy
