RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Fidelity hits staggering $12.6 trillion in 2023, bids adieu to headhunted retail chief, beats Schwab's performance -- not least because it doesn't own a bank -- and sees Maggie Serravalli's star shine

Retail was Fido's weakest division with 3% growth and its chief departed; it's B2B units -- 401K and custody/clearing -- jumped 6% each; Serravalli now serves as the company’s chief administrative officer.

Author Brooke Southall February 9, 2024 at 5:33 AM
1 Comment
no description available
Maggie Serravalli keeps showing up in top roles.
Keith Girard contributed to the editing of this article.

RIA Custodians


Nancy Kramer

Nancy Kramer

February 10, 2024 — 12:46 AM
Not surprised Fidelity beat Schwab in revenue they got a lot of TD refuges. Got 1 account moved to Fidelity. Two more to go. Fidelity is a much better company than Schwab.

Related Moves

May 6, 2025 at 12:42 AM

BlackRock adds Fidelity's retail legend and Morgan Stanley ex-retail chief, sparking belief Larry Fink is eyeing wealth channel

The Wall Street asset giant added Kathleen Murphy and Greg Fleming to its board and retail investors know iShares and Aladdin.

May 1, 2025 at 1:47 AM

Envestnet quietly cleans up a mess behind take-private veil • Michael Kim is now a two-TAMP CEO • Bill Ackman scolds Trump, Lutnick for tariff overkill, alleged conflicts •

Kim is now head of 'RIA' TAMP • In broad daylight, AssetMark edges closer to swallowing Adhesion • Ackman irked over ‘massive, disproportionate’ tariffs • Fisher sees market upside, if and when tariffs fail.

April 8, 2025 at 1:49 AM

BlackRock, Goldman Sachs will curtail DEI HR outreach to comport with new Trump executive order, but neither signals they want to abandon diverse workforce

The world's larget asset manager will subtract racial and gender targets for job interviews but will find new ways to hire candidates that head off 'groupthink.'

March 5, 2025 at 3:20 AM

See more related moves

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2025 RIABiz Inc. All rights reserved.