Articles tagged "Charles Schwab & Co."
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After a decade of 'hybrid' RIA mish-mash, LPL Financial has a double-barreled '100%' RIA plan that is presumed to include 'Schwabitrade' style asset custody and a 'Dynasty' style premium back office offer
The nation's largest independent broker-dealer is finally going on RIA offense, which may prove to be a good defense upmarket and downmarket.
February 13, 2020 at 4:33 AM
Schwab execs all but dash RIA hopes for TD Ameritrade VEO One survival by pitting the open-API platform against expediency and an admitted pro-Schwab bias
Schwab COO Joseph Martinetto scoffs at 'platform-by-platform' cherry-picking of Schwab and TD systems: 'That will just take too long.'
February 7, 2020 at 6:47 AM
Fidelity beats Schwab to market with free fractional share trading, after Schwab beat Fido by months with promises, but has yet to deliver
The Boston-based giant is reporting the capability simultaneous with its launch -- albeit not for RIAs, for now
February 1, 2020 at 8:27 AM
TD Ameritrade hedges its bets that Schwab can swallow it whole as DOJ letter lands, LINC 2021 gets planned and TD pledges it'll go 'full tilt'
The Omaha, Neb.-based firm is ready to combine with Charles Schwab & Co. if need be but ready, too, to remain its nemesis until anti-trust hurdles dissipate and the ink dries.
January 31, 2020 at 2:10 AM
Antitrust suit against Schwab and TD Ameritrade merger draws 'stunt' accusations and judge agrees
Franklin Tsung’s company, BlackCrown, filed suit in New York against Schwab and TD, but his decision to do so without a lawyer made it a clear 'stunt,' sources say.
January 3, 2020 at 5:26 PM
Schwab set to launch 'shoe-that-dropped' subscription retirement income robot that acts like a virtual annuity and produces 'predictable' paycheck
With ex-Nationwide exec in lead, Schwab Intelligent Income helps 'unsolved conundrum' creep closer to a solution -- but no guarantees on income
December 20, 2019 at 2:25 AM
With Robinhood pacing the new norm, Interactive Brokers outpaces Schwab in race to give RIAs free fractional-share trades
The Greenwich, Conn., discount broker -- with Robinhood promising to be next -- has already pulled the free-fractional lever for retail investors and plans to make the time interval for RIAs between promise and delivery -- i.e. vaporware -- far shorter than the Schwabitrade merging conglomerate.
December 18, 2019 at 10:49 PM
After Andy Rachleff explains Wealthfront's corrective to banking, Jon Stein told how Betterment is investing heavily in banking but mindful of 'frothiness'
The Redwood City, Calif.-based robo-advisor co-founder explained the banking pain points at InVest West and the New York-based robo co-founder told of a $1B banking week but exulted more about RIA custody
December 6, 2019 at 11:48 PM
Breaking up is hard to do: Schwab and TD Ameritrade both on hook for $1 billion should either firm get cold feet, shareholders revolt, or antitrust regulators quash deal
The Omaha, Neb.-based Schwab target, TD, has its neck most exposed, sources say, and anti-trust concerns are real but Schwab Chairman Chuck Schwab may have improved his odds in Washington with donations to the party in power
December 5, 2019 at 9:37 PM
Schwab sends most RIAs to 1-800 custody service -- a downgrade the mass of incoming TD Ameritrade RIAs will have to swallow
The Charles Schwab Corp. is taking relationship managers from RIAs with less than $200 million in AUM, a threshold that thousands of TD RIAs will cross next year along with other presumed merger integration glitches
December 3, 2019 at 4:09 AM
Schwab's headquarters shift to Texas amid TD Ameritrade merger seems to please nobody -- outside the Dallas Chamber of Commerce--Omaha feels especially omitted
Paper benefits -- no income tax, low corporate taxes, cheap labor, cheap space -- abound, but no Schwab, TD or USAA execs are committing to working there
November 28, 2019 at 4:56 AM
Walt Bettinger sugarcoats nothing to TD Ameritrade RIAs about re-papering or technology and he calls 'modest' the importance of RIA revenues to Schwab
The Schwab CEO stressed his soon-to-be Fort Worth, Texas-based firm's emerging alpha status: 'We're on offense. We press those advantages'
November 26, 2019 at 2:09 AM
Reported Schwab-TD merger is a 'blockbuster' combo that creates a 10,000-RIA, $2-trillion custody juggernaut and may signal long-expected industry shakeout
The San Francisco and Omaha companies were the fiercest of rivals, so everybody presumed E*Trade would be the next domino to fall.
November 22, 2019 at 1:49 AM
Charles Schwab, a true American oligarch, shows no signs of slowing at 82, throwing his substantial fortune behind Donald Trump, hard-right politics and his continuing financial services revolution
The billionaire is dumping San Francisco's liberal warrens for full-time residence in the exclusive enclave of Atherton, Calif., where he'll rub shoulders with other billionaires.
November 5, 2019 at 3:35 PM
Charles Schwab & Co. makes mutual fund owners fume by denying access to critical RIA asset data; some call it a 'cynical power play;' Schwab calls it a OneSource streamline
CEO Walt Bettinger tells analysts profit-taking and fund consolidation could be looming after $400 million hit from zeroing-out commissions.
