Articles tagged "TD Ameritrade"
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Schwab's reported TD Ameritrade deal leaves 10,000 RIAs in twilight zone as weekend begins with an unconfirmed, undenied merger report causing many to weigh options
The RIA custodians are apparently merging despite view that separate ownership and approaches are the big reasons for parking assets there
November 23, 2019 at 9:17 PM
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
CEO Tim Hockey says Schwab's zero-commission play was 'painful,' but helped TD Ameritrade focus on RIA channel and made it easier to find his successor
The Omaha, Neb.-based broker moves to appease RIA high net worth clients and braces for an upsurge in breakaway brokers that could help its custody business
October 23, 2019 at 6:26 PM
One big casualty of Fidelity Investments' buckle on zero-fee commissions may be the zero-fee RIA custody tailwind of three decades duration
With Pershing last to collect trade revenues, Schwab, TD Ameritrade and Fido have leverage and ' I think Fidelity will be the first to try,' Kitces says.
October 15, 2019 at 8:42 PM
After Vanguard instigated commission war in June, Charles 'Chuck' Schwab steps up to challenge in brilliant counterstroke that paints bull's eye on custody rivals in zero-sum showdown
The Schwab Chairman and Founder signs off on the $400-million write-off of revenues in a move the size of his legacy. After being booted in 2017 by TD Ameritrade for not playing the pay-for-play game, Vanguard went hard zero in June forcing Schwab to act but perhaps not this big
October 10, 2019 at 4:49 PM
All eyes turn to Fidelity to see if it cracks in all out price war over trading commissions, but for now Abby Johnson is stubbornly refusing to buckle -- bolstered by RIA reassurances
A Morgan Stanley analyst assures Wall Street Boston giant must match Charles Schwab & Co's free trades; Instead, says Fido's David Canter, the company is listening to RIAs, who fear poor service more than ticket charges
October 4, 2019 at 1:44 AM
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
Walt Bettinger axes current and former Schwab retail chiefs, Terri Kallsen and Andy Gill; funnels responsibilities to Jonathan Craig, for now
The Schwab CEO is 'restructuring,' which includes cutting the Chairman's Club program that sent 200 top performers to Hawaii on a free junket
July 24, 2019 at 12:53 AM
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 at 4:30 AM
Interactive Brokers, the Mouse that roared, fires shot across the bows of Schwab, Fidelity, TD and Pershing over RIA custody: 'The market will catch up to our vision'
The $34.2-billion Greenwich, Conn.-based RIA custodian is allowing advisor firms with multi-custody to use its software for all assets, going way low on price and way high on technology, saying the Big Four aren't as mindful of RIAs battling fee compression
May 14, 2019 at 9:51 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
Chip's and Skip's 'Excellent Adventure' breaks RIA stereotypes, sheds risk aversion for 'gut-busting' Alaska hike; black bears, grizzlies and moose, oh my!
This year the Excellent Adventure crew assembled in Girdwood, Alaska for a trek up the Crow Pass Trail, which meanders through a rain forest inhabited by black bears, grizzly, and moose.
August 20, 2018 at 5:30 PM
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
The old trick of new math Pershing used to make its RIA assets in custody soar from $200 billion to $615 billion in one year
Citing 'evolution,' the other Jersey City, N.J.-based custodian redefined 'RIA' to leapfrog itself over TD Ameritrade and into the rear view of Fidelity
