RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Fidelity beats Schwab to market with free fractional share trading, after Schwab beat Fido by months with promises, but has yet to deliver

The Boston-based giant is reporting the capability simultaneous with its launch -- albeit not for RIAs, for now

Author Brooke Southall February 1, 2020 at 8:27 AM
Admin:
no description available
Scott Ignall: Fidelity’s size, private structure, and leading positions across various marketplaces are unmatched. in our industry and put us in a unique position to deliver greater value.

Related Moves

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

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 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

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'

The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.

February 23, 2023 at 8:14 AM

See more related moves


Les Collins

Les Collins

February 2, 2020 — 3:46 PM
I'm surprised that there is no mention of Robinhood and how people are on a waiting list for fractional share trading yet Fidelity beat them to it.

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo