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Fidelity's field-of-digital-dreams approach to RIA custody means bulldozing familiar landmarks like 'RIA' corporate enclaves and 'chiefs' -- all part of a post 'scrappy' organic growth plan

Fidelity CEO Abby Johnson clearly trusts and values the long-time RIA overseer Michael Durbin to solve nettlesome projects like eMoney, and her perception of his highest, best use has shifted in Fidelity's inexorable digital push

Author Lisa Shider
December 8, 2022 at 10:34 PM
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Michael Durbin: 'Advisors have seen the technology and wealth management industries increasingly intersect.'
Brooke Southall and Keith Girard contributed to the editing of this article.

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Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings

Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'

January 19, 2023 at 3:31 AM

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

Fidelity Investments pulls out stops on perks to raise headcount by 7,000 -- by hiring 9,000 -- to shrug off labor shortages, escalating wages and call center attrition

The 53,000-employee Boston firm is offering Google-type benefits and Merrill Lynch-style training--no financial experience necessary-- to reach 60,000 staffers by Christmas to meet crushing demand for service and still advance mega-projects like crypto and youth accounts

September 4, 2021 at 12:57 AM

Fidelity Investments is paying 2,000 employees to hasten their corporate exits, including high-profile RIA overseer, Sanjiv Mirchandani, as part of its shift to a digital future

The Boston giant offered voluntary buyout packages and the 4% of staff who accepted will leave by June 30 to give other staff room to grow careers and make room for hires.

June 24, 2021 at 5:39 PM

See more related moves

Mentioned in this article:

Fidelity
Asset Custodian
Top Executive: Sanjiv Mirchandani

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh




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