RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

Articles tagged "Fidelity"


Headline

Publish date


Tim Buckley:  'Establishing a new office in Dallas reflects our continued commitment to hiring top advisor and technology talent.'

Vanguard Group to open CFP-poaching battle front in Schwab-Fido-Pershing backyard, after its human RIA grows AUM 72% to $231 billion

The Malvern, Pa, manager of $7.5 trillion moves aggressively on Dallas metro area where its big rivals employ tens of thousands, showing Vanguard CEO Tim Buckley's faith in the RIA business model

May 21, 2021 at 2:30 AM

Kathleen Murphy: 'I’d always had 57 penciled in, in terms of taking stock … I’m so over New England Winters, too.'

Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores

The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges

January 23, 2021 at 2:02 AM

Mike Durbin keeps executing on Abby Johnson's directive for removing unconstructive internal borders.

Fidelity's Mike Durbin unleashes FMAX as 'Schwabitrade' takes life, but if they build it, will leery advisors buy into it?

The Fidelity Institutional head is betting RIAs will go for the 'killer app,' a one-vendor, one-fee bundle that will free time and mindspace by having the eMoney plan implement itself as a collection of products.

December 3, 2020 at 4:59 AM

Greg Davis: These specific municipal money markets no longer offer the market depth needed to prudently provide these state-specific products in all market conditions.

Vanguard's shuttering of municipal money market funds sends clarion call to RIAs to get ahead of COVID-19 squeeze, even if Schwab and Fidelity see fit to ride out the storm

The Malvern, Pa., giant cites market-specific liquidity issues and an interest rate squeeze; Federated Hermes and BNY Mellon have made similar 'canary in the coal mine' moves.

October 14, 2020 at 2:58 AM

Mike Durbin:  '[The growth of FCCS] has been meteoric [thanks to removing internal walls] so now we're widening that [wall-less approach] out.'

Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift

Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.

March 13, 2020 at 10:36 PM

Joseph Martel: We think they can afford to take more equity risk.

T. Rowe Price takes on the risk of its target date fund retirees outliving their savings -- by jacking up equity exposure even on the glide path

The Baltimore patriarch is using both actuarial and behavioral science as the basis for the contrarian move whose downside is accentuated as coronavirus gives the approach a rough start

March 2, 2020 at 6:13 PM

Fidelity's David Gray:  Some of the conventional thinking that 401(k) plan was cheaper than brokerage accounts continues to evolve.

Fidelity Investments rewrites the 401(k) rollover script by allowing plan participants -- with a small catch -- to skip the IRA and have the plan sponsor hold the account post-employment

The $1.8 trillion AUA recordkeeping king eschews its own defined contribution scripture to reflect reality of inertia, better technology and the fact that IRAs are no longer yield so much milk and honey in a zero-fee, zero-commission world

February 25, 2020 at 2:46 AM

James Gorman: We’ll take on Schwab. We'll take on Fidelity

James Gorman delivers chilling remarks to E*Trade RIAs after doing no-money-down deal for the zero-commission discount broker

The Morgan Stanley CEO is arbitraging his puffed-up shares for downtrodden E*trade stock and admits old Trust Company of America custody unit is an afterthought in bigger game

February 21, 2020 at 3:45 AM

David Canter: 'With the changes in the marketplace over the past year, it was a natural point in time to have these discussions.'

Fidelity Investments will broaden custody fees in July, while Schwab counters with pledge: 'No custody fees and no intention to raise them'

The Boston giant adds a few hundred advisors and opt-out safety valve and really had no choice in zero commission world, analysts say

February 14, 2020 at 3:17 PM

Scott Ignall: Fidelity’s size, private structure, and leading positions across various marketplaces  are unmatched. in our industry and put us in a unique position to deliver greater value.

Fidelity beats Schwab to market with free fractional share trading, after Schwab beat Fido by months with promises, but has yet to deliver

The Boston-based giant is reporting the capability simultaneous with its launch -- albeit not for RIAs, for now

February 1, 2020 at 8:27 AM

Fidelity's Abby Johnson  took eight days to succumb Chuck Schwab's commission  torpedo but those days may have been put to good use.

One big casualty of Fidelity Investments' buckle on zero-fee commissions may be the zero-fee RIA custody tailwind of three decades duration

With Pershing last to collect trade revenues, Schwab, TD Ameritrade and Fido have leverage and ' I think Fidelity will be the first to try,' Kitces says.

October 15, 2019 at 8:42 PM

Charles 'Chuck' Schwab: Eliminating commissions ensures my ultimate vision is realized.

After Vanguard instigated commission war in June, Charles 'Chuck' Schwab steps up to challenge in brilliant counterstroke that paints bull's eye on custody rivals in zero-sum showdown

The Schwab Chairman and Founder signs off on the $400-million write-off of revenues in a move the size of his legacy. After being booted in 2017 by TD Ameritrade for not playing the pay-for-play game, Vanguard went hard zero in June forcing Schwab to act but perhaps not this big

October 10, 2019 at 4:49 PM

Rob Foregger: Moving beyond the target date fund ... that’s the vision ... they're now antiquated.

New class of robos lay siege to 'antiquated' target-date-funds (TDF) market; even defender of the 401(k) citadel, Vanguard, sees handwriting on the wall

Fidelity, Ascensus, and Morningstar are all making 401(k) moves that could see automated advice replace the Vanguard-dominated TDF market but maybe Vanguard just woke up in time to cannibalize the market itself.

October 8, 2019 at 3:02 AM

Tim Buckley is part of the chorus of silence about why Vanguard is finally testing a robo-advisor.

Vanguard Group signals launch of long-anticipated -- vanilla as hell -- dirt cheap, perhaps 'clunky' robo-advisor, but Schwab, Fidelity should worry, nonetheless, analysts say

With Schwab more subscription-minded and Fidelity more upmarket, the Malvern, Pa. monster may get a decent shot at retail micro-accounts and 401(k) participants. It's more of a yawn at Betterment and Wealthfront.

October 2, 2019 at 3:31 PM

Jay Lipman: Ethic empowers advisors to seamlessly become sustainability experts.

Fidelity Investments inks deal with $180-million startup RIA (that it partly owns) to convert RIA clients into agents of ethics

The Boston giant's deal with NYC-based Ethic will encourage RIAs to replace ETFs and mutual funds with direct indexing that weeds out holdings out of step with firm and client values.

September 25, 2019 at 9:36 PM

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo