Articles tagged "Schwab Advisor Services"
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A $3 billion TD Ameritrade RIA pulls assets out of Schwab --after it cut services for TDA RIAs, and got sticker shock -- ahead of merger date
Anthony "Tony" J. Mazzali, CEO of CG Advisory Services, is shifting the bulk of its assets to LPL Financial to curb the assymetric power in his custody relationship with Schwab.
May 2, 2023 at 3:26 AM
Manish Khatta gives Schwab and Fidelity 'A' grade -- and a backseat -- after Altruist gets A+ to win the RIA inflows to his $750-million TAMP
After Fidelity discontinued DocuSign API and uncertainties rose at Schwab, Potomac Fund Management's CEO spent nine months vetting RIA custodians
March 28, 2023 at 4:44 AM
Fidelity lands RIA whisperer from Schwab in a coup, apparently using quality-of-life perks as lure
Kelly Smith chose the Boston rival for greater flexibility, better pay and a chance to move upmarket to sell family office services to RIAs that mix with the ultra-high-net-worth elite.
February 10, 2023 at 3:39 AM
In rare form, Schwab's Bernie Clark calls out rivals -- not least Fidelity, Goldman Sachs and LPL -- by name and warns them about challenging Schwab's prohibitive custody business domination
The head of RIA custody says 85% of RIA firms work with his unit, but rival custodians have knives drawn to poach advisors when TD Ameritrade merger wraps.
January 28, 2023 at 2:50 AM
Shirl Penney lands hot cash in cold market, raising $100 million (says source) to 'charge onto the offensive' as competitors 'hunker down' under debt
The CEO and co-founder of Dynasty Financial Partners salves IPO pain by cobbling cash from existing backers, a Boston private equity firm, Abry, and even RIA custody partner, Schwab, at valuation near $500 million.
December 20, 2022 at 2:37 AM
Schwab Advisor Services fired TD Ameritrade RIA as client after its owner charged a 5% fee on his wife's account, but what it did afterward enraged him
The Westlake, Texas RIA custodian followed up by writing a letter to clients raising 'billing practices' as a concern for something regulators often forgive, experts say.
December 14, 2022 at 2:12 AM
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
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
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
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
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
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
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 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
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
