What went down at Barron's Top Independent Advisors Summit in the Arizona desert
Many of the biggest and best RIA stars showed up and put Bernie Clark, Mike Durbin, Tom Nally, Mark Tibergien, Bill Dwyer, Charles Goldman and Barnaby Grist in one room
Fidelity
|Pershing
|TD Ameritrade
|LPL
|Barron's
|Cetera
|Carson Wealth Management
|Stark and Stark
|Swhab
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
Pershing restores Ben Harrison as sole heir to Mark Tibergien -- for now -- but solo tenure may be temporary, with other top talent in the wings
Co-Head Maura Creekmore's departure leaves Harrison at the top by default, but the company is mum on future hiring and how much RIA autonomy gets sacrificed in name of 'convergence.'
January 19, 2023 at 3:31 AM
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 at 2:02 AM
Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift
Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
March 13, 2020 at 10:36 PM
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
Stark & Stark
Legal Services for RIAs
Top Executive: Tom Giachetti
TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien
Carson Group
Consulting Firm
Top Executive: Ron Carson
Cetera Financial Group
RIA-Friendly Broker-Dealer
Top Executive: Larry Roth
Elmer Rich III
It would be productive if the industry was, and it’s leaders were, mature enough to not make conferences just about sales pitches. Also, having presentations based on independent and objective evidence and research would be useful.
Of course, the hype, “happy talk” and self congratulations are just tactics supporting non-stop sales pitches.
Imagine if doctor’s professional conferences were similarly self- congratulatory and sales-driven? What would patient’s think? What would our medical care be like? That would be scary.
There is just a baseline inability to face and discuss substantive matters at financial services conferences. For example, so called “best practices.” What is the evidence, research supporting any of these claims? None. It’s just story-telling, and anecdotal experience. Guess work and opinions — at best.
Does anyone offer independent validation that their latest products and offerings work? No.
But ours is a young profession. It will take a few decades to reach maturity — hopefully. In the meantime — ho hum.
