Lisa Shidler

Brooke Southall

Keith Girard

Schwab Advisor Services fired TD Ameritrade RIA as client after its owner charged a 5% fee on his wife's account, but what it did afterward enraged him

Schwab Advisor Services

Max Schatzow

The past two years have been some of the most momentous in the relatively short history of the RIA profession. Legislators and regulators have been gradually embracing the fiduciary standard, though whether it will fully apply to everyone calling themselves advisors remains to be seen.

The Department of Labor’s crusade to lower costs and increase transparency in retirement plans means a spate of new regulations affecting advisors and brokers in that market. Dodd-Frank Financial Reform, meanwhile, continues to unroll across the profession, with the biggest change being a shift to state oversight of RIAs with less than $100 million AUM. In this section, you’ll find continually updated RIABiz.com coverage on all these topics.

RIA Compliance

Asset custodians are the central players in the RIA business and choosing one is the biggest decision most financial advisors will make to build their business. As the place where RIAs park their assets (the same way a captive broker would park assets at Merrill Lynch or UBS), custodians serve hundreds or thousands of these registered investment advisors and make big investments in technology and service on their clients' behalf.

This section features a series of articles under the “Asset Custody Project” label that cover these companies in a way that keeps advisors abreast of their progress – both with journalistic commentary and a common set of data so that advisors can easily compare them. The articles look at the strengths, weaknesses and niche capabilities of these companies.

&mdash; Brooke Southall

Here are links to the profiles of custodians:

 <li><a href="http://www.riabiz.com/a/11942001/">Equity Advisor Solutions</a></li>
 <li><a href="http://www.riabiz.com/a/4977738934910976/with-robo-advisors-on-the-rise-robo-custodian-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle">Apex Clearing</a></li>
 <li><a href="http://www.riabiz.com/a/11320001">Raymond James</a></li>
 <li><a href="http://www.riabiz.com/a/10207085">State Street</a></li>
 <li><a href="http://www.riabiz.com/a/1812010">Ceros Financial</a></li>
 <li><a href="http://www.riabiz.com/a/9033656">Fidelity</a></li>
 <li><a href="http://www.riabiz.com/a/7435709">Pershing</a></li>
 <li><a href="http://www.riabiz.com/a/1212007">Royal Bank of Canada</a></li>
 <li><a href="http://www.riabiz.com/a/133138">Scottrade</a></li>
 <li><a href="http://www.riabiz.com/a/8101589">Schwab</a></li>
 <li><a href="http://www.riabiz.com/a/8788433">TD Ameritrade</a></li>
 <li><a href="http://www.riabiz.com/a/124061">Trade-PMR</a></li>
 <li><a href="http://www.riabiz.com/a/1161005">Trust Company of America</a></li>
 <li><a href="http://www.riabiz.com/a/1490002">BNY Mellon</a></li>
 <li><a href="http://www.riabiz.com/a/5385142">Folio Institutional</a></li>
 <li><a href="http://www.riabiz.com/a/108011">Shareholders Service Group</a></li>
 <li><a href="http://www.riabiz.com/a/5933001">National Advisors Trust</a></li>
 <li><a href="http://www.riabiz.com/a/22600260/how-us-bank-appeared-on-the-scene-as-an-ria-custodian-and-where-it-might-find-love">US Bank</a></li>
</ul>

If you want a more chronological look at news about the custodians, just scroll down.

RIA Custodians

The Westlake, Texas RIA custodian followed up by writing a letter to clients raising 'billing practices' as a concern for something regulators often forgive, experts say.

Schwab Advisor Services fired TD Ameritrade RIA as client after its owner charged a 5% fee on his wife's account, but what it did afterward enraged him

Related Moves

February 10, 2023 at 3:39 AM

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