Articles tagged "Fidelity Investments"
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A last lion of the Ned Johnson era, Gerry McGraw, vacates the Fidelity CFO spot for Maggie Serravalli, and makes evident Abby Johnson's 'phenomenal' women strategy
McGraw was credited with steely leadership during the 2008-2009 financial crisis but also bridged the management revamp toward a big bet on what women can do better in the next decade.
June 12, 2020 at 3:52 AM
When Interactive Brokers sweetened its RIA custody offering in 2019, it worked -- so now it's investing in more sugar
The Greenwich, Conn. custodian now has 25,000 funds on its supermarket, new simplified trading software and a heightened sense of urgency as Wall Street scoops up competitors
June 3, 2020 at 4:43 PM
Tired of having their screens scraped, Schwab and Fidelity launch API initiatives to curtail the practice -- rewarding some, but not all scrapers with cleaner data
Opening up their APIs gives both powerhouses the ability to share data while also making it more secure -- it also puts them back in the driver's seat in choosing who gets it.
May 29, 2020 at 4:45 AM
As COVID-19 crisis grows, Schwab charts own course, orders office workers to stay put, while Fidelity, other firms urge employees to work from home
Fidelity CEO Abby Johnson tells 45,000 staff to stay home, if possible; Schwab CEO Walt Bettinger says it's neither practical nor technologically feasible for most of his 19,000 staff to telecommute
March 16, 2020 at 4:09 PM
Mark Tibergien sets up Ben Harrison to challenge Schwabitrade with a $150 million cut to Pershing's minimum and millions more to develop Veo-busting technology
The CEO suite hand-off in Jersey City pulls a trigger on a plan to bypass Fidelity's and eventually Schwab's custody units by luring disaffected RIAs.
March 11, 2020 at 7:58 AM
Morningstar may be upending the 401(k) industry by putting RIAs in charge and making participants pay fees -- but some critics see prohibitive conflicts of interest
The Chicago firm boasts a tsunami of signings of 401(k) mega-players including CAPTRUST, Empower and Schwab; Morningstar even had a chat with Fidelity
February 5, 2020 at 7:34 PM
Headhunters rejoice after Fidelity axes invincible (but expensive) executive bonus program to more narrowly focus rewards on productivity and execution
Watchers of the Boston-based firm presume CEO Abby Johnson's play connects to revenue hits from 'zero' programs but also a strategic rethinking of how to unify the company silos and motivate managers with a more merit-based system
January 13, 2020 at 6:59 PM
Fidelity wrests high-profile Amazon 401(k) business from Vanguard, forcing a judicious unbundling of services between the king of assets and king of recordkeeping
The Boston 401(k) king's capture of Amazon's recordkeeping account from rival Vanguard may be proof of concept of 'client experience' at a budget price.
January 8, 2020 at 11:46 PM
Schwab dismisses crypto currencies as 'speculative' and too insignificant for its RIA platform as rivals stake out turf for the coming boom... or is that bust?
CEO Walt Bettinger spurns growing crypto-custody trend, but observers say the custody giant is sleep walking through innovation while other firms plow ahead.
September 7, 2019 at 4:01 AM
Abby Johnson set financial services on fire with a 1.91% 'cash' offer, drawing 'first blood' in an 'accelerating war of rates,' analyst says
The Fidelity CEO threatens to melt down rival profit centers but analysts and RIAs say credit quality and RIA sweep policies make the threat somewhat of an 'illusion'
August 20, 2019 at 1:41 AM
Schwab PortfolioCenter sale to Envestnet signals open season on 2,300 RIAs in the deal; Orion bags six; 'Why didn't Tamarac call me?' some ask
Whether you are Bridge, BlackDiamond, FinFolio or Morningstar, you are not sitting out this once-in-a-generation orphaning by a legacy giant of portfolio accounting software
March 7, 2019 at 1:59 AM
After five-year stealth project, Fidelity goes big-time into crypto-asset custody with standalone company
CEO Abby Johnson founds Fidelity Digital Asset Services for enterprise-quality custody and trading, with pledge for more 'investing and experimenting'
October 15, 2018 at 6:45 PM
Focus Financial conscripts Fidelity to bombard RIA principal/prospective clients with IPO solicitations while one research shop waves a yellow flag
RIAs can buy Focus shares at 'first-tick' price from the Boston-based giant through tomorrow as part of a 'directed' program that may also encourage RIAs to sell to Focus down the road
July 24, 2018 at 1:53 AM
Vanguard Group Makes Big Move on RIA Custody by Ending Commissions on 1,700 ETFs in Bid to Become Walmart of Financial Services
The Malvern, Pa.-based giant 'face slaps' Charles Schwab & Co. by undercutting it on ETF distribution fees the way Schwab did to it on ETF management fees
July 4, 2018 at 2:51 AM
Vestwell makes hard-charging payroll startup, Namely, its portal to win plan sponsors for RIAs and IBD reps it services
CEO Aaron Schumm is helping advisors get the benefit of feet already wedged in doors thanks to pervasive payroll service apps
