Ten questions for Tom Nally as he gets going filling Tom Bradley's shoes
TD's new RIA chief is drawing a target on the IBD back and he challenges the 'rollups' to better define their value
Related Moves
Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'
Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms
December 10, 2019 at 2:05 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
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
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh
Stephen Winks
Wonderful opportunity to live and manage through a transformational period of innovation that reorders the industry around the consumer’s best interest and fiduciary standing.
Whether FINRA is the advice SRO or not, every custodian must address the deepening divide between brokerage where there is no accountability or ongoing responsibility for recommendations and advisors who are accountable and responsible. This could not be a better time to differentiate brokerage and custodial services in support of expert authenticated fiduciary counsel.
The singular challenge broker/dealers and custodians face is can they manage trade execution cost as a cost center on behalf of the consumer in the consumer’s best interest in support of fiduciary standing. If fee for service should not emerge in support for fiduciary standing, then structurally an RIA is required to actually enable fiduciary standing for advisors so their fiduciary duties can be fulfilled.
Will broker/dealers and custodians create RIA affiliates in support of fiduciary standing, or will a new generation of large scale, institutionalized support for fiduciary standing become a seperate stand alone business.
Custodians will have a lot to say, which can accelerate innovation in support of fiduciary standing.
SCW
