Articles tagged "Tim Welsh"
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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
MarketCounsel Summit convenes in Las Vegas with Goldman Sachs there to say: We are already really a $1-trillion custodian
Goldman Sachs used the low key, high traffic event in Nevada to signal to the RIA vendor crowd it's raring to get going with breakaway brokers,
December 10, 2022 at 4:21 AM
Fidelity's field-of-digital-dreams approach to RIA custody means bulldozing familiar landmarks like 'RIA' corporate enclaves and 'chiefs' -- all part of a post 'scrappy' organic growth plan
Fidelity CEO Abby Johnson clearly trusts and values the long-time RIA overseer Michael Durbin to solve nettlesome projects like eMoney, and her perception of his highest, best use has shifted in Fidelity's inexorable digital push
December 8, 2022 at 10:34 PM
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Michael Kitces picks his moment to demand the SEC close two giant faux-RIA loopholes -- the hat-switching 'hybrid' advisor and the wirehouse 'financial advisor'
The XPYN founder wants the SEC to honor its 'Merrill Lynch Rule' promise from 15 years ago, demanding the most fundamental truth in advertising.
October 1, 2021 at 10:33 PM
Schwab's merger with TD Ameritrade was sterling until the Covid-19 pandemic and financial collapse took some of the shine off the deal
Charles Schwab & Co.'s decision to buy TD Ameritrade Holding Corp. in Nov. 2019 looked like a lock, but 'Schwabitrade' has been rocked by wholesale branch closings, plummeting share prices and emergency rate cuts to near zero.
April 14, 2020 at 11:13 PM
Oleg Tishkevich builds instant McKinsey-killer in RIA consulting by offering gigs and equity to six solo stars, but good luck managing egos and economics, says someone who's been there
The restless Invent.us founder names (thus far) Tim Welsh, Suzanne Siracuse, Gavin Spitzner, Mark Hollingsworth and Brian Bleasdell as owners in exchange for being on call to tackle big gigs as a superteam
September 10, 2019 at 10:52 PM
Twitter war pits Josh 'Downtown' Brown against Michael Kitces over hush-hush issue: Do RIA custodians face Merrill-Lynch style conflicts over advisor custody fees?
Brown criticizes Merrill Lynch for moving cash out of money market accounts into banks; Kitces says RIAs are complicit in something just as bad
August 29, 2018 at 1:49 AM
Marty Bicknell-led Shark Tank-style contest chooses to back super-ambitious RIA-automation startup, but his $25-billion RIA'll keep Orion for now
ScratchWorks picked Jacqueline Ko Matthews' InvestmentPod to improve advisor productivity by 60% but it's still just 'potential,' says Bicknell; Good potential
August 1, 2018 at 5:17 PM
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
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
Ric Edelman's RIA empire to merge with legacy The Mutual Fund Stores in $3-billion deal that takes Financial Engines private
Hellman & Friedman stake the eye-popping sum in cash to outright own an RIA with nearly $195 billion of AUM including robo-advised 401(k) assets
April 30, 2018 at 11:57 PM
In robo-CEO vs. Twitter gadfly battle, it was no contest as Wealthfront's Andy Rachleff does 'ultimate flip-flop' without tweeting a reply
The $10-billion robo-advisor may weather 'PR nightmare' but not thanks to Rachleff's 'Vanguard' explanation, critics say
April 25, 2018 at 12:03 AM
HighTower Advisors lands $4.5-billion RIA with help from bigger, better checkbook
The Chicago RIA roll-up adds 45-employee Salient with T.H. Lee omnipresent in shepherding the UHNW deal
April 17, 2018 at 3:25 PM
No sooner does hedge fund take big Wealthfront stake than the robo pivots toward becoming one
Tiger Global brought $75 million of cash in January but the New York hedge fund's baggage of higher fees, hard-to-grasp fees, PhD investing may have been quickly transferred, too
