Revamping its trading platform, Schwab at long last is poised to catch up with its smaller peers
The giant RIA custodian explains it deliberate pace as a balancing of innovation with the veracity of the existing platform
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
Pete Giza and Damon Deru go for Holy Grail of portfolio rebalancing with software that shuffles stocks, bonds... and asset classes; Believe it?
The RedBlack and TradeWarrior executives see old systems as 'archaic' yet know that the Black Diamonds, Morningstars, Orions and Tamaracs see rebalancing as a loss leader
June 11, 2019 at 9:49 PM
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
See more related moves
iRebal
Trading/Rebalancing
Top Executive: Benjamin Welch
TD Ameritrade
Asset Custodian
Top Executive: Tom Nally
E*TRADE Advisor Services
Asset Custodian
Top Executive: Joshua Pace
FPPad.com
Consulting Firm
Top Executive: Bill Winterberg
intelliflo
Trading/Rebalancing
Top Executive: Nick Eatock
Mr. Jesse Livermore
Ms. Shidler,
Pardon me but the “oh-so-slow-but-steady” is now recognizably in reverse.
On May 10, 2010 Schwab announced “Project C” as a preemptive strike against TD Ameritrade’s API – the world was promised, but what has really been delivered?
Subsequently in June of 2010 your editor and chief wrote an article entitled “Schwab’s Project C now has two tiers and three new names” which already set the stage for “here we go again”.
Finally in June of 2012 another article appeared here entitled “Schwab shifts its strategy on its massive Intelligent Integration” once again confirming the general direction was reverse.
One cannot help but wonder at the lack of commitment by Schwab executives to deliver on what has been promised. The CRM offerings are lackluster and too cumbersome for most firms. The rest of the “Project” has just fallen over in an ignominious death.
On the other hand:
Fidelity is sticking to its guns 'Wealth Central is our solution’ – sure.
Pershing remains quiet since NetX360 was touted to be the next best thing as an Apple product – my apologies to Apple for having to say that. However Pershing clients will tell you just how horrible 360 really is.
Cometh the deliverer TD Ameritrade. TD has actually managed to live up to its commitments and delivered product and set the stage for some very interesting battles between custodians and vendors.
The stage has been set for commodity applications availability. It will be interesting to see who are the winners.
JLL
Craig Iskowitz
TRX co-founder Sheryl Rowling was part of a panel discussion along with iRebal, Tamarac and TradeWarrior on the benefits of portfolio rebalancing software for advisors at the Technology Tools for Today (T3) conference last week in Miami. She talked about the best way to explain how software automation improves advisor productivity, as well as TRX pricing and integration options. Check out what she and the other three rebalancing software providers had to say here: http://wp.me/pPor1-rZ
