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Articles tagged "Schwab Advisor Services"


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Bernie Clark: [The final integration] won't be without incident, unfortunately.

RIA recap: Bernie Clark promises to 'be there' for coming TDA-Schwab system snafus; Fidelity gets custody win; Vanguard dishes out big tax bill to investors

Schwab RIA chief petitions for 'patience' for coming merger inconveniences but 'repapering' is no culprit; Carrie Pomerantz gets Schwab board seat; Addepar wins $65 billion AUM contract.

November 3, 2022 at 1:59 AM

Alison Dooher: We've led the way ... and we're extending that lead.

Suddenly onboarding is a hot RIA game, and Schwab Advisor Services leaps ahead with a 'digital ' process that one expert says beats Fidelity and bodes well for a post-merger 'Schwabitrade'

The $3.2 trillion RIA custodian tripled its tech budget, zeroed in on 'onboarding,' promoted Alison Dooher to succeed the also promoted Andrew Salesky, brought aboard Google/Amazon whiz kids and allowed some TD Ameritrade culture to seep in.

August 23, 2022 at 2:00 AM

Eric Clarke: Our shared clients were notified the [TDA] program would be sunset about a year ago.

Schwab Advisor Services scuttles Orion's sweetheart TD Ameritrade software deal, but Eric Clarke is hopeful a fresh romance with Apex Clearing may blossom the same way

The Westlake, Texas RIA custodian 'sunset' the 2009 Eric Clarke deal with former TDA CEO Tom Bradley that lifted both Omaha firms.

August 17, 2022 at 1:24 AM

Ben Harrison's interest-yielding custody fee model could still take off, albeit two years later than planned.

BNY Mellon Pershing's subscription custody plan was scuttled by crashing COVID interest rates, but may get a second wind as rates rise, reviving its play for Schwab/TD Ameritrade RIAs

But offering higher yields to switch may not be enough to lure advisors, who typically keep minimal investments in cash, says one industry expert.

June 25, 2022 at 12:41 AM

Since Schwab and Salesforce last reported comity, the CRM maker has come to literally tower over the former in San Francisco but they have to see eye to eye to compete with a re-energized CRM maker in Sacramento.

Schwab and Salesforce proclaim fresh RIA data solidarity two days after Orion buys Redtail with RIA CRM data nirvana the merger's implicit promise

The two uneasy downtown San Francisco neighbors promise better cooperation soon for RIAs as Eric Clarke and Brian McLaughlin find common cause, and TDA RIAs get set to become Schwab RIAs in 2022.

April 29, 2022 at 11:25 PM

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

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

Schwab IMPACT 2020 won't happen in Boston and will morph to an online version of itself.

Schwab Advisor Services takes EXPLORE, IMPACT and SOLUTIONS 'virtual' in face of COVID-19 pandemic, updates merger, and makes clear the two scheduling details are unrelated

Set to be held in Fidelity's Boston backyard, IMPACT 2020 will move to the ether, making it one of the industry's premier virtual conferences in a sure sign the RIA world has dramatically changed.

April 29, 2020 at 6:41 PM

Ron Tamayo: “If the merger is approved, we’re adamant that we’ll be looking for another custodian.

Schwab's reported TD Ameritrade deal leaves 10,000 RIAs in twilight zone as weekend begins with an unconfirmed, undenied merger report causing many to weigh options

The RIA custodians are apparently merging despite view that separate ownership and approaches are the big reasons for parking assets there

November 23, 2019 at 9:17 PM

Jason Fertitta: We are excited to be able to work from the same side of the desk as our clients

Shirl Penney and Brian Hamburger gang-tackle largest breakaway of 2019 as Jason Fertitta, Team Americana bolt Morgan Stanley to form Schwab RIA

The Dynasty CEO and MarketCounsel CEO fended off the logistical and legal furies for small team with $6 billion in AUM and average accounts of $50 million

April 29, 2019 at 5:11 PM

Ben Harrison: This is a very conservative number. If we were to continue with hybrid the number would be considerably higher.

The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year

Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity

June 12, 2018 at 5:01 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

Ed Butowsky: Imagine if your entire life has been picked apart and destroyed over the last eight months. It’s important to get this right.

What to make of a $239M-AUM RIA dwindling to $191M then suing Schwab for $100M as the alleged cause of the asset hemorrhage

Ed Butowsky says the San Francisco-based custodian played politics illegally by using a beltway scandal involving murder, WikiLeaks and collusion as a smokescreen to steal his clients

May 2, 2018 at 9:06 PM

Tim Hockey: In the industry, retail has a higher return on client assets on a higher revenue base. But both businesses have a strong operating margin.

Tim Hockey goes to Florida with an RIA 'problem' that's not RIAs

The TD Ameritrade CEO relies on 6,000 registered investment advisors for 80% of growth -- skewed by big, big 'bus drivers' like Ric Edelman and Ron Carson

February 1, 2018 at 11:17 PM

Alex Bryan: Schwab is on the cusp of making that bridge to the top space in ETFs

Charles Schwab & Co.'s vertical play to monopolize ETF market -- to be its low-cost maker, distributor and manager -- diesels ahead as ETF OneSource grows again

San Francisco giant executes macro strategy to underprice Vanguard, get paid big bucks to sell third-party funds for free, sell ETF portfolios gratis in its industry-leading robo-advisor and keep custody of $1.4T of RIA assets fast-converting to ETFs

July 14, 2017 at 8:51 PM

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