Brooke Southall

Brooke,

If I am reading this correctly Fidelity is opening its open API infrastructure to firms other than vetted third party vendors. Having been through the vetting process with TD in the early days of their VEO API launch, I can say it was and probably is rigorous. I guess my first question is what is Fidelity's vetting process? APIs are great but the more entities accessing the broader your security surface area.

Security and performance concerns aside, I think this is a great move on Fidelity's part. It opens the way for fiduciary firms to advance their technology footprint in ways they only dreamed of but couldn't accomplish. The number of vendors and firms that are jumping on the open API bandwagon is mind boggling. This trend certainly can't hurt technology and development consultants either ;-)

Pete

Pete Giza | Spitbrook Associates

Fidelity Investments launches its API-forward 'open architecture digital store' as big RIAs demand help fine-tuning client service -- with Schwab likely on deck

Fidelity Clearing & Custody

Asset custodians are the central players in the RIA business and choosing one is the biggest decision most financial advisors will make to build their business. As the place where RIAs park their assets (the same way a captive broker would park assets at Merrill Lynch or UBS), custodians serve hundreds or thousands of these registered investment advisors and make big investments in technology and service on their clients' behalf.

This section features a series of articles under the “Asset Custody Project” label that cover these companies in a way that keeps advisors abreast of their progress – both with journalistic commentary and a common set of data so that advisors can easily compare them. The articles look at the strengths, weaknesses and niche capabilities of these companies.

&mdash; Brooke Southall

Here are links to the profiles of custodians:

 <li><a href="http://www.riabiz.com/a/11942001/">Equity Advisor Solutions</a></li>
 <li><a href="http://www.riabiz.com/a/4977738934910976/with-robo-advisors-on-the-rise-robo-custodian-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle">Apex Clearing</a></li>
 <li><a href="http://www.riabiz.com/a/11320001">Raymond James</a></li>
 <li><a href="http://www.riabiz.com/a/10207085">State Street</a></li>
 <li><a href="http://www.riabiz.com/a/1812010">Ceros Financial</a></li>
 <li><a href="http://www.riabiz.com/a/9033656">Fidelity</a></li>
 <li><a href="http://www.riabiz.com/a/7435709">Pershing</a></li>
 <li><a href="http://www.riabiz.com/a/1212007">Royal Bank of Canada</a></li>
 <li><a href="http://www.riabiz.com/a/133138">Scottrade</a></li>
 <li><a href="http://www.riabiz.com/a/8101589">Schwab</a></li>
 <li><a href="http://www.riabiz.com/a/8788433">TD Ameritrade</a></li>
 <li><a href="http://www.riabiz.com/a/124061">Trade-PMR</a></li>
 <li><a href="http://www.riabiz.com/a/1161005">Trust Company of America</a></li>
 <li><a href="http://www.riabiz.com/a/1490002">BNY Mellon</a></li>
 <li><a href="http://www.riabiz.com/a/5385142">Folio Institutional</a></li>
 <li><a href="http://www.riabiz.com/a/108011">Shareholders Service Group</a></li>
 <li><a href="http://www.riabiz.com/a/5933001">National Advisors Trust</a></li>
 <li><a href="http://www.riabiz.com/a/22600260/how-us-bank-appeared-on-the-scene-as-an-ria-custodian-and-where-it-might-find-love">US Bank</a></li>
</ul>

If you want a more chronological look at news about the custodians, just scroll down.

RIA Custodians

The RIA business has many tech vendors working hard to serve its diverse needs, and we're seeing technology become a more crucial part of setting up and running an RIA than ever before.

The Technology section includes unbiased tech reviews, tech-related news, and coverage of tech-related conferences.

Technology

The Boston giant's push is more about RIA self-help than the third-party integrations TD Ameritrade makes hay with but now Schwab Advisor Services may be pushed to respond.

Fidelity Investments launches its API-forward 'open architecture digital store' as big RIAs demand help fine-tuning client service -- with Schwab likely on deck

Peter Giza

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March 13, 2020 at 10:36 PM

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Fidelity Investments launches its API-forward 'open architecture digital store' as big RIAs demand help fine-tuning client service -- with Schwab likely on deck

Peter Giza

Related Moves

March 13, 2020 at 10:36 PM

February 28, 2020 at 11:09 PM

RIABiz Directory

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