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The $50-billion custodian signs on for six more years of Wells Fargo clearing but holds out hopes to have its own blank-slate system as soon as 2028 and Wells Fargo (FiNet) plans to have its new RIA custody platform relaunched by year-end.
The Gainesville, Fla. custodian will pay 0.5% -- $5,000 for every million -- an unheard of sales tactic in staid RIA custody -- harkening back to Robinhood's bedeviling Schwab with unthinkable, zero-fee commissions.
The Menlo Park, Calif. online broker paid $300 million for custody unit that gives it immediate cash flow and market position.
The new website will shun 'news' in favor of first-person essays from advisors to build a community through shared experiences.
Robinhood will go through a disruptive, two- to three-year transition to develop a 'road map' before it can think about being a Schwab-killer, the Altruist CEO says in a much-discussed LinkedIn post
Robinhood must overcome its history of regulatory pitfalls and win the confidence of TradePMR RIAs, or see them exit to other custodians, industry insiders say.
The new chief product officer at the upmarket-bound RIA custodian -- soon to be based in St. Petersburg, Fla. -- has the vison and knowledge of third-party players, like Orion and Black Diamond, that big incoming RIAs want from TradePMR and its CEO.
The TDA conversion itself 'overdelivered' for 'seamlessness and communication,' but severed relationship with beloved Veo system left some RIAs with postpartum feelings about Veo that could increase as the dust settles, insiders say
The low-profile Gainesville, Fla. custodian is using the inked compact to motivate, make hard conversations softer and make purges of the small and stagnant practices less frequent
In part one of a three-part series, we examine how seven small custodians -- starting with Trade PMR and Scottrade -- are evolving away from the Utopian model of 100% inclusivity
A deal between Trade-PMR and its clearing unit sets up interesting possibilities
Florida custodian is opening its doors to career-changers and smaller IBD reps who want to become RIAs
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