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Articles tagged "Bernie Clark"


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Michael Kitces: 'Clients paying fair fees is our fiduciary responsibility.'

Michael Kitces' debate with two top RIA custodians may have vaporized--causing him to pivot to a 'discussion'--but he still made his point--more transparency, now!

The serial 'Nerd's Eye' RIA entrepreneur didn't give an inch against LPL RIA chief, Marc Cohen, who insisted custody is about value, not fees.

March 18, 2022 at 2:00 AM

LPL's Marc Cohen will discuss RIA custody fees with Michael Kitces to fill the big void left by the heads of his firms's two largest RIA custody rivals.

The 'Great Debate'--pitting Bernie Clark and David Canter against Michael Kitces--collapses after the Schwab and Fidelity custody chiefs have second thoughts

In October, Canter laid down the challenge, Clark sided with him and the Nerd's Eye View publisher and RIA advocate called their bluff.

March 14, 2022 at 2:57 AM

Walt Bettinger: We're getting close to a step function in terms of what RIAs and others can do for their clients to personalize investing.

Charles Schwab & Co. sets in motion monetization play for the ages to nudge zero-fee trading assets into fee-based accounts, a 'blurring' of lines between self-directed and advised assets

CEO Walt Bettinger has repeatedly trumpeted next year's rollout of proprietary direct indexing as a sort of killer app that wins index and DIY assets alike

November 4, 2021 at 2:30 AM

Michael Kitces: I think the team is still trying to figure out availability and scheduling logistics.

Rival RIA custody chiefs Bernie Clark and David Canter, who oversee a combined $4.5 trillion, may lock arms to debate Michael Kitces on custody fee transparency -- for a very good reason

The head of Schwab Advisors Services and the head of the RIA unit of Fidelity Institutional are caught in an existential debate to preserve their right to play favorites based on economics, observers say.

October 20, 2021 at 10:48 PM

Larry Raffone: We needed a technology partner that could match our size and scale.

How Schwab Advisor Services managed to keep (the better part of) Edelman Financial Engines' $30-billion RIA account after sweating out an RFP

The Westlake, Texas company convinced Edelman CEO Larry Raffone that size matters -- bolstered by service agreements, happy fees and promises to keep up on technology.

February 3, 2021 at 3:23 AM

Tom Bradley brings experience, goodwill and a chip on the shoulder born of being cut by the firm Schwab is set to consume.

Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'

Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms

December 10, 2019 at 2:05 AM

Martin Small: We’re wildly focused on them, but they’re competed away instantaneously.

In a summer swelter, In|Vest's feisty crowd throws punches at Schwab; Bernie Clark counters and debate erupts over whether 'digital' makes a difference

The New York City event drew heavyweights. Edmond Walters, Barry Ritholtz, Martin Small, Lauren Radcliffe were among those who skipped the BS

July 19, 2019 at 11:04 PM

Bernie Clark: Andrew and I have worked closely together on many projects over the past two decades at Schwab.

Bernie Clark gets an A-level exec to help him futurize Schwab's RIA platform

After Lightyear's Advisor Group nabbed Ed Obuchowski, Schwab went big in replacing him with Andrew Salesky

June 6, 2018 at 3:21 AM

Bernie Clark: We are at an inflection point where new technology craves data, a scenario where incumbents have the advantage.

Bernie Clark uses Schwab IMPACT 2017 as pulpit to preach Schwab scale as firewall to blaze of dystopian big-data future

With no RIA deliverable to pitch, Charles Schwab & Co. execs presented their go-big, 'no goals' vision for managing accelerating external change

November 17, 2017 at 10:45 PM

Jim McCool got off on the wrong foot with RIAs, paving the way for a Bernie Clark era.

Eight years after historic Schwab-RIA rift, Jim McCool, the controversial former RIA chief and original Bettinger partner, exits

After McCool hastily axed alternative investments from Schwab RIA platform, Bernie Clark took the chief custody role as part of the healing process

July 6, 2017 at 11:07 PM

Walt Bettinger (with Bernie Clark): It’s fairly safe to say that most of the rest are available for the right check.

As Bernie Clark and Walt Bettinger go on offense, LPL and Wells Fargo names get named and a B2C robo dry-up gets foretold at Schwab IMPACT in San Diego

The Schwab CEO, buoyed by his robo, robust quarterly results and DOL fallout at competitors is on offense -- a state of being RIAs can relate to

October 28, 2016 at 6:41 PM

Evan LaHuta: Is it reasonable to offer this type of discount for new clients, but not your long-term valuable existing clients?

Schwab launches biggest RIA-targeted price war in years -- but TD and Pershing say they won't play along

In what may be a prelude to commission-free RIA custody era, Schwab eliminates equity and ETF commissions for all new clients for a year; Fidelity says it is still cheaper

July 1, 2016 at 8:25 PM

Christopher Norton: This campaign shows they are willing to ... run the type of national campaign these advisors could not execute on their own

Schwab wows EXPLORE 2016 crowd with revived bid to advertise RIAs with two magic ingredients: Schwab branding and a budget of 'millions' of dollars

Though skeptical observers call the effort window dressing, the San Francisco custody giant is incorporating lessons learned from the lackluster RIA-Stands-For-You campaign of 2011

June 22, 2016 at 7:50 PM

.Bernie Clark: We're quite proud of that [$1 trillion].

Why Schwab execs are 'proud' of holding at $1-trillion custody mark first achieved in 2013 -- and what makes them pleased with its existing 25% RIA custody market share

Candidly canvassing 2015 dings -- including a $12 billion RIA defection -- Walt Bettinger seems at peace with vigilantly guarding Schwab's mighty quarter of the RIA asset pie

February 22, 2016 at 6:43 PM

Walt Bettinger: I have bitten my lip until now.

Walt Bettinger unbites his lip and ignites a Schwab IMPACT Twitter squall and the RIA custody show goes on

Tweets connected Schwab CEO remarks to Wealthfront's chippy chief -- red meat to the de facto hometown crowd of advisors

November 16, 2015 at 7:53 PM

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