Asset Custody Project rolls forward
The scope of the RIABiz plan for 2009 recaps and 2010 outlooks of RIA custodians took on a life of its own
Fidelity
|Pershing
|Schwab
|Merrill Lynch
|Raymond James
|TD Ameritrade
|LPL
|Wells Fargo Advisors
|Broadcort
|RBC
|JPMorgan
|State Street
|Trust Company of America
|Shareholders Service Group
|TradePMR
|FolioFn
|Stifel
Related Moves
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
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
Biz Briefs: Vanguard's tax-loss harvest yields a caveat• Vermont green with envy ... of red states? • CFP Board spends $12 million on bungee metaphor • BlackRock isn't neutral on Credit Suisse • Women are the Goliath of 'David' in UK finance
Tax-loss harvest gains may have some home assembly required, says Jeff DeMaso • Adrian Johnstone is now in the driving seat at Practifi • CFP Board spending just topped $150 million • and Vermont shares some Texas thinking on ESG investing.
March 25, 2023 at 1:32 AM
Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
February 17, 2023 at 2:49 AM
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
Raymond James Financial Inc.
Asset Custodian
Top Executive: Bill Van Law
State Street Wealth Manager Services
Asset Custodian
Top Executive: Marty Sullivan
E*TRADE Advisor Services
Asset Custodian
Top Executive: Joshua Pace
TradePMR
Asset Custodian
Top Executive: Robb Baldwin
Shareholders Service Group
Asset Custodian
Top Executive: Peter Mangan
Kevin Wilson
I love seeing someone run with a project like this. My company is/has been a SEC registered Investment Advisory firm for over 20 years. None of us were ever brokers. We’ve had clients with accounts at dozens of custodians over the years. Currently that number stands at 4, with Schwab having the bulk of it. I/we worked hard back in the 1900’s before the age of the interface. When the data started to become downloadable from brokerage/custodians (or rather when their database guys came out the closet and admitted it could be done, and were ready to deal with the overhead of supporting outside data downloaders) in the 1990’s my/our lives chaged. We use Portfoliocenter, formerly Centerpiece (which we started using in 1987). There are not many people out there with my experience in this arena. From the hardward, the databases, working with brokerage backoffices, just putting it all together, to get to where for the last 10+ years I can reconcile every account to the penny every day for a few hundred clients with eight hundred brokerage accounts, with total under mgmt of 500 million. So i would love to help with your project, from a guru standpoint, just setting up your grid. My desire to help is that the 13 items you listed, although sufficient for the job, either imply a forced answer or lack specificness. So let me know if I can play Guru with you. Kevin.
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