What a slew of recent RIA surveys say about the firms' hunger for growth
Firms are ready to hire and recruit investors but they're aware that pitfalls abound
Related Moves
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
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
Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one
The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says
October 11, 2022 at 12:40 AM
Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock
The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'
January 6, 2022 at 10:33 PM
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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
Elmer Rich III
We do this work for both RIAs and TPAs, and others. it is very hard to do. We can go on at length but will make it short.
All financial services firms and professionals now face a much harder and more complex business development environment — post-meltdown. It is hyper-competitive, and getting more so. Likely more opportunities as well. Maybe.
In addition: – Changing from a culture and mindset of hunkering-down and protection to growth is a very big psychological step — for the firm and individuals. Let alone the nuts and bolts business process that need to be added, reconfigured, etc. – It’s (very) expensive – in Principal’s time as well as money. – Social media has changed everything. Everyone’s and every firm’s business reputation now resides on Google, 24/7/365. The best clients and professionals live their lives on-line now via their gadgets. You don’t want to work with the ones that don’t.
The good news is — if you are truly the best at what you do, the world is looking for you. Real, proven, expert problem-solving skills and solutions are getting harder and harder to find. Are you?
Finally, everyone is already fully and over committed in everything in their lives. Getting and keeping the attention of the “best and brightest” clients (and referral sources) is really (really) hard work. Sorry.
