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Scrutinizing -- and celebrating -- Schwab's plan to build 150 branches, at $1 million per throw, and people them with thousands of home-grown advisor talents

The renaissance involves minting advisors as Schwab's retail chief Teri Kallsen offers up a bold vision of bigger, better branches

Author Brooke Southall September 16, 2015 at 6:49 PM
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Schwab is spending on average $1illion to open a branch -- but these aren't your father's discount broker B spaces as this Woodland Hills, Calif. location shows.

401(k) Stories


Adam Smith

Adam Smith

September 16, 2015 — 7:17 PM

Might be time to re-think which custodian I want to support. To learn that the profits being generated from their institutional division are most likely being used to generate capital to bolster their retail network and Schwab’s internal RIA solutions.

I wonder if Schwab is going to give us the same old same old speel that they are not competing againt us?


Related Moves

January 19, 2023 at 3:31 AM

Behind the scenes, Ben Harrison's rise to replace Mark Tibergien at Pershing was more shock and awe than a symphonic succession

Harrison's appointment was baked in the cake -- or not -- and Tibergien departed with Swiss-watch precision in Moss Adams-style--or not.

March 13, 2020 at 7:22 AM

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

The great Mark Tibergien is set to step down from CEO of Pershing Advisor Services to make way for heir apparent Ben Harrison

The RIA custody chief is a tireless and personable leader, consultant and guru who leaves BNY Mellon's RIA custody unit as its mission radically shifts

March 4, 2020 at 4:16 AM

See more related moves

Mentioned in this article:

Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien

Finetooth Consulting
Consulting Firm
Top Executive: Ryan Shanks

FA Match
Consulting Firm, Specialized Breakaway Service, Recruiter
Top Executive: Ryan Shanks



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