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Articles tagged "Fidelity Clearing & Custody Solutions"


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Michael Kitces: 'Clients paying fair fees is our fiduciary responsibility.'

Michael Kitces' debate with two top RIA custodians may have vaporized--causing him to pivot to a 'discussion'--but he still made his point--more transparency, now!

The serial 'Nerd's Eye' RIA entrepreneur didn't give an inch against LPL RIA chief, Marc Cohen, who insisted custody is about value, not fees.

March 18, 2022 at 2:00 AM

David Canter (off hours, on stage with his rock band): That’s something that we all need to think about, and it's getting lost in the headlines.

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

Tim Hockey: 'As we all know, the environment that's facing our entire industry has gotten a little more interesting.'

Tim Hockey leaves baffled analysts (and everyone else) probing for answers to explain abrupt departure plan as TD Ameritrade CEO; It's about... nothing!

Discount brokers are facing myriad issues as trading fees continue sliding to zero, causing TD's board to seek a more RIA friendly CEO

August 8, 2019 at 6:32 PM

Ben Harrison: This is a very conservative number. If we were to continue with hybrid the number would be considerably higher.

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

June 12, 2018 at 5:01 PM

Lisa Dolly: Bigger is better.

Pershing CEO Lisa Dolly flaunts size and software at INSITE 2018

The new leadership continues to push RIAs to see the custodian as less niche but more nimble

June 11, 2018 at 7:33 PM

Mike Durbin: I've never seen us more strategically anxious.

Mike Durbin says Fidelity Institutional has heightened 'strategic anxiety' softened by its best asset growth ever

His $2.6-trillion unit's 2017 asset growth includes big adds from AssetMark, Sepio, Carson Group and Principal Securities

March 23, 2018 at 3:19 AM

David Canter: It's not precipitous. It's sort of this slow-melting ice cube.

Fidelity sounds alarm over RIA discounting but Mark Tibergien, Eric Clarke and others see it differently

Pershing's Gabe Garcia sees more RIAs raising fees than lowering them but Fidelity's David Canter says he observes real-life discounts that support survey results

December 21, 2017 at 5:05 PM

Robb Baldwin: If an advisor is not meeting the expectations set out in the LOU, difficult conversations can be made much easier for both parties.

TradePMR is making RIAs sign a promise to succeed -- to good effect

The low-profile Gainesville, Fla. custodian is using the inked compact to motivate, make hard conversations softer and make purges of the small and stagnant practices less frequent

May 18, 2017 at 11:47 PM

Neal Simon:  We will see the emergence of five to 10 very large regional and national RIAs, and that Bronfman Rothschild is well-positioned to become one of them.

How Neal Simon parlayed a hoity-toity family office RIA into a $5 billion serial buyer in two years by letting the whale swallow him first

The CEO of Bronfman E.L. Rothschild engineered nine roll-ins and liftouts since 2015 and, with a key Cantor Fitzgerald hire, is now turning a hungry eye on NYC

May 11, 2017 at 9:52 PM

Scott Smith: Schwab and Fidelty can simply decide not to compete with this arrangement.

DFA RIAs remain in turmoil as Schwab and Fidelity ponder matching TD Ameritrade pricing deal and a key couple of basis points

The Austin, Texas-based asset manager says its door is open for negotiation but the two big custodians in San Francisco and Boston remain mum as RIA CEOs are pressing for clarity

May 2, 2017 at 9:32 PM

Christopher Van Slyke: That pricing is very persuasive. As fiduciaries we'd have to consider TDA the favorite.

DFA and TD Ameritrade strike 'strategic' deal with potential to shift RIA custody power axis

Tension in the three-way relationship between Fidelity, Dimensional Fund Advisors and the RIAs who use both vendors creates opening for Tim Hockey

April 24, 2017 at 6:33 PM

Joe Duran: This is the most single important thing I have done in my career.

Framing it as a wildly disruptive 3,300-basis-point fee on de novo revenues, Joe Duran's United Capital digital reboot is apparently raking in RIA assets and revenues

The charismatic CEO's launch of FinLife Partners -- with unabashed Fidelity support -- is in effect selling revenues to advisors but taking a risk on their success

March 28, 2017 at 7:40 PM

David Canter: I am very competitive.

Anything but sales-y, David Canter takes RIA helm at Fidelity with ambition to sell like crazy

The Schwab alum and long-time sidekick to Bob Oros and Mike Durbin is a lawyer, consulting expert and is 'over the moon' about his new role

March 6, 2017 at 10:56 PM

Jim Lowell: The firm has the opportunity to outlive the next generation.

With beginnings harking back to E*Trade's RIA roll-up liquidation, two Boston-adjacent RIAs of a certain age join to create a $4.7 billion firm

Downplaying succession ghosts, the Mark Hurley-funded combo of Adviser Investments and Braver Wealth Management is equal parts M&A wizardry and product of a local soda fountain meet-up

March 1, 2017 at 6:14 PM

Todd Feltz (center, flanked by Brent O’Mara and Wade Behlen): They let us run our RIA business, allowed us to broker business with them, provided compliance and supervision -- and then the game changed.

Why exactly a $2.2 billion RIA hybrid abruptly dumped LPL for Securities America -- and Schwab, Fidelity and TD Ameritrade

Besides cost savings of using diverse custodians, WealthPlan gets past 'crippling workflow' by forming new partnerships with Orion, Salesforce, eMoney and Advisory World

November 7, 2016 at 7:50 PM

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