Clearing and Custodial Firms
Read up on clearing and custodial firms serving RIAs and others in the wealth management arena.
Schwab Layoffs of 2,000 Have Begun
By Jeff BermanThe firm says it's cutting 5%-6% of its workforce, which totaled 35,900 on Sept. 30.
October 18, 2023
Hybrid RIA Concurrent Adds Schwab as Custodial Option for AdvisorsConcurrent, a former OSJ with Raymond James, relaunched this year as a hybrid RIA.
October 17, 2023
BNY Mellon's Pershing Expands Clearing Deal With Lincoln InvestmentLincoln also selected Pershing X's Wove wealth management platform to provide tech solutions to advisors.
October 10, 2023
$1.9B Advisor Team Leaves Morgan Stanley to Launch RIASpirePoint Private Client is using Goldman Sachs Advisor Solutions as its custodian.
September 25, 2023
Schwab Call Center Woes Plague RIAs After TD Ameritrade Move"I can tell you the company line from Schwab is very misleading," one advisor said.
September 22, 2023
Altruist Ends Portfolio Software Fee for AdvisorsThe custodian had been charging a monthly portfolio accounting fee of $1 per brokerage account.
September 05, 2023
SEC Charges 5 Advisory Firms With Custody Rule ViolationsThe firms will pay a total of $500,000 for failures tied to the safekeeping of client assets and timely disclosure updates.
September 05, 2023
No Big Issues With TD Ameritrade Integration: Schwab"This weekend, we moved [over] 7,000 advisor firms ... to [our], platform," said Schwab Advisor Services' Bernie Clark.