9 things RIAs need to know about Fidelity's pricing moves on equities and ETFs
The trade commissions grab headlines but ETF cuts are a glimpse of the future
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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
Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs
BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..
January 13, 2023 at 3:01 AM
Dimensional Fund Advisors, long the flagship of factor investing, struggles to chart a course as a nimble rival and big foot competitors cut into its market--and exploit its slow move to ETFs
Vanguard, BlackRock and Avantis rattle a complacent Dimensional Fund Advisors with fee cuts and ETF roll outs based on 'smart beta.'
August 9, 2022 at 1:57 AM
See more related moves
Morningstar, Inc.
TAMP
Top Executive: Joe Mansueto
Stephen Winks
Now that advice is no longer incidental to trade execution, but trade execution is now incidental to advice, Schwab has started a chain reaction of events which will have a profound im pact on the industry going forward as evidenced by Fidelity following suite. This is just the beginning of what is comming, that will permanently change the industry’s competitive landscape.
Schwab’s move to waive ETF cost was a conscious and brilliant move to accelerates the industry’s move to address and manage investment and administrative values in the best interests of the consumer from the industry’s historical focus on commission sales of investment products.
The difference is, as the industry belatedly focuses on cost and the effectiveness of portfolio construction, it will gravitate toward (1) faster (real time transparency), (2)better (a much more disciplined approach with far superior results) and (3) cheaper (overlay management, real time buy/sell manager research and the tactical discipline to proactively manage risk exposure as market conditions change, all for less than 20 bps) approach to portfolio construction that will (1)better compensate advisors,(2)provide superior results at a (3)far lower cost consistent with fiduciary duty.
Doing more with less works. How would you like to make more money, better serve your clients with superior results and fiduciary standing and do so less expensively than a packaged product? It’s comming.
SCW
