Articles tagged "Fidelity"
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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
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 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 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
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
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
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
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
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
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
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
After Orion, Fidelity and Envestnet paid big for planning software, Morningstar finesses a DIY planning hack for Workstation; Black Diamond is also trying finesse to counter the continuing planning software grab
The portfolio management giants spent a combined $800 million; Now Morningstar has Goal Bridge and SS&C assures it is keeping even in planning race
September 20, 2019 at 4:29 PM
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 at 4:30 AM
Vanguard hits back at Fidelity's loss-leader strategy by courting higher-margin businesses, like China and private equity, and axing low-margin ones like annuities -- Wealth management franchises are next -- and Chinese foray yields $315 million AUM in first 100 days, as ANT files blockbuster IPO
The zero-fee scourge of index funds awakened the sleeping Malvern, Pa.-based giant from its predictable destiny and now CEO Tim Buckley is unapologetically showing a willingness to cut losses and seek risk. His Chinese strategy seems to be already paying off.
July 8, 2019 at 7:49 PM
Marc Spilker enters the RIA world with a mound of cash, a giant Fidelity testimonial and a kick-ass reputation as Goldman Sachs and private equity gunslinger
Leading a Merchant Investment Management venture loaded with ex-Dynasty, ex-Focus stars, his company plans to start out making bigger, quicker loans, then selling RIAs a wider range of services
