Brooke Southall

While I agree with Dan’s comment that it could be viewed as a controversial aquisition through the lense of Schwab’s RIA clients, it won’t be the first controversial decision made by Schwab in the last few years. The hedge fund custody decision (while it has been reversed) ruffled alot more RIAs feathers than Windward will.

A look inside Schwab's big deal with a small asset manager

Stephen J. Cucchiaro spoke with Chuck Schwab and Walt Bettinger before deciding to sell his company to theirs.

Schwab

alternative investments

Windhaven

Walt Bettinger

Dan Seivert

Stephen Cucchiaro

Outsourced investments are one of the fastest-growing categories in the financial advisory world. Perched between
the asset custodian and the financial advisor, these (mostly) turnkey asset management programs can handle all or a 
portion of their investing, technology and fiduciary duties.

Advocates of using these TAMPs point to how it's better for the advisor because it frees up more time to spend with clients and prospects. It's also better for clients because the duties are being handled by specialized professionals who benefit from economies of scale.

Skeptics say that it adds a layer of cost and takes away an element of control from the advisors in executing according to a client's financial plan.

TAMPs

Windward sold for a big premium but Schwab may be the bigger winner

A look inside Schwab's big deal with a small asset manager

Related Moves

July 24, 2019 at 12:53 AM

Jeff Spears

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