Brooke Southall

You wrote, "...Schwab, which went so far as to pledge never to charge a custody fee." However that is not what Schwab promised with regard to custody fees as the very next sentence makes clear when they say the have no "intention" to raise them. This is not the same as promising not to ever raise them.

Pershing Client, Here is the first item in the Schwab pledge: 'Industry-leading custody services, with no AUM minimums, no custody fees – and no intention to raise them.'

It is confusing.

It says: "No custody fees" and its says: 'And no intention to raise them.'

I'm thinking they must be referring to the AUM minimums it has no intention to raise -- perhaps not
the best sentence structure.

Here's the link: https://advisorservices.schwab.com/pledge?mod=article_inline

Pershing finally matches Schwab on zero-fee trades but it offers big incentives to pay a subscription fee to score perks like auto-sweep to in-house Flourish/Stonecastle-type FDIC cash manager

BNY Mellon

Pershing Advisor Services

Mark Tibergien

Jim Crowley

Ben Harrison

Asset custodians are the central players in the RIA business and choosing one is the biggest decision most financial advisors will make to build their business. As the place where RIAs park their assets (the same way a captive broker would park assets at Merrill Lynch or UBS), custodians serve hundreds or thousands of these registered investment advisors and make big investments in technology and service on their clients' behalf.

This section features a series of articles under the “Asset Custody Project” label that cover these companies in a way that keeps advisors abreast of their progress – both with journalistic commentary and a common set of data so that advisors can easily compare them. The articles look at the strengths, weaknesses and niche capabilities of these companies.

&mdash; Brooke Southall

Here are links to the profiles of custodians:

 <li><a href="http://www.riabiz.com/a/11942001/">Equity Advisor Solutions</a></li>
 <li><a href="http://www.riabiz.com/a/4977738934910976/with-robo-advisors-on-the-rise-robo-custodian-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle">Apex Clearing</a></li>
 <li><a href="http://www.riabiz.com/a/11320001">Raymond James</a></li>
 <li><a href="http://www.riabiz.com/a/10207085">State Street</a></li>
 <li><a href="http://www.riabiz.com/a/1812010">Ceros Financial</a></li>
 <li><a href="http://www.riabiz.com/a/9033656">Fidelity</a></li>
 <li><a href="http://www.riabiz.com/a/7435709">Pershing</a></li>
 <li><a href="http://www.riabiz.com/a/1212007">Royal Bank of Canada</a></li>
 <li><a href="http://www.riabiz.com/a/133138">Scottrade</a></li>
 <li><a href="http://www.riabiz.com/a/8101589">Schwab</a></li>
 <li><a href="http://www.riabiz.com/a/8788433">TD Ameritrade</a></li>
 <li><a href="http://www.riabiz.com/a/124061">Trade-PMR</a></li>
 <li><a href="http://www.riabiz.com/a/1161005">Trust Company of America</a></li>
 <li><a href="http://www.riabiz.com/a/1490002">BNY Mellon</a></li>
 <li><a href="http://www.riabiz.com/a/5385142">Folio Institutional</a></li>
 <li><a href="http://www.riabiz.com/a/108011">Shareholders Service Group</a></li>
 <li><a href="http://www.riabiz.com/a/5933001">National Advisors Trust</a></li>
 <li><a href="http://www.riabiz.com/a/22600260/how-us-bank-appeared-on-the-scene-as-an-ria-custodian-and-where-it-might-find-love">US Bank</a></li>
</ul>

If you want a more chronological look at news about the custodians, just scroll down.

RIA Custodians

The Jersey City, N.J. custodian is seeking to disrupt custody's Big Three on value and price by giving RIAs a much better cash choice than having it swept to an in-house bank

Pershing finally matches Schwab on zero-fee trades but it offers big incentives to pay a subscription fee to score perks like auto-sweep to in-house Flourish/Stonecastle-type FDIC cash manager

Pershing Client

Brooke Southall

franc

galton

Related Moves

January 19, 2023 at 3:31 AM

March 13, 2020 at 7:22 AM

March 4, 2020 at 4:16 AM

March 12, 2019 at 10:14 PM

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Pershing finally matches Schwab on zero-fee trades but it offers big incentives to pay a subscription fee to score perks like auto-sweep to in-house Flourish/Stonecastle-type FDIC cash manager

Pershing Client

Brooke Southall

franc

galton

Related Moves

January 19, 2023 at 3:31 AM

March 13, 2020 at 7:22 AM

March 4, 2020 at 4:16 AM

March 12, 2019 at 10:14 PM

RIABiz Directory

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