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The sister robo advisor, Schwab Intelligent Portfolios, will live on as a retail offering but got nixed from Schwab's wealth RIA -- expunging reference to 2022 SEC sanction -- and now will be under RIA of Charles Schwab Investment Management
The exit-bound Schwab RIA chief, never one to offend, says his company's net new assets depend on the aggregators 2-to-1 over RIA startups, but some are choosing a counterproductive path
The 14-year head of Schwab RIA custody kept both CEO Walter Bettinger and heads of 15,000 RIAs happy in an incredible juggling act of corporate and entrepreneurial goals
Walt Bettinger says he 'feel(s) exceptionally good' that 'all' RIA defections landed over the summer, and TDA RIAs have since been 'rewarding us with ... loyalty.'
Not just social media savvy RIAs, but principals of smaller, classic, all-TDA shops are listing a litany of issues -- the tip of an iceberg, according to small RIA custodians.
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
Schwab Advisor Services still faces the stiff challenge of cultural assimilation but would-be detractors (like trade publications and even competitors) see little possibility it'll bungle Labor Day's switchover and its worst-case scenario on RIA attrition of 5% seems like a 'major win'
The Westalke, Texas company's chief financial officer said his firm took the action on the 'atypical custodial relationships' to stay 'consistent'
The RIA assets of TD Ameritrade Institutional and Schwab Advisor Services grew an incredible $514 billion for the 12 months ended June 30, but the real conversion looms on Labor Day.
The Berwyn, Pa. company says Schwab's own public disclosures Clark's 'nine basis point' claims, though Envestnet will likely need to hand over as much as half the take to FNZ, a competitor says
Gabe Garcia is not alone seeing Schwab's ballooning scale as something to pop-- with Envestnet, Altruist, Goldman, LPL, TradePMR and AssetMark all working on new delivery models.
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.
After Fidelity discontinued DocuSign API and uncertainties rose at Schwab, Potomac Fund Management's CEO spent nine months vetting RIA custodians
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.
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.
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