Clearing and Custodial Firms
Read up on clearing and custodial firms serving RIAs and others in the wealth management arena.
Schwab, Creative Planning Sued Over $9.5M Loss
By Melanie WaddellA "reckless and negligent stock options investment strategy" led to the loss of the client's Boeing stock, the suit claims.
August 24, 2023
LPL to Add $50B in Prudential Wealth AssetsAssets held at Fidelity's National Financial, other third parties and Prudential should move to LPL by late 2024.
August 22, 2023
Schwab to Sell $2.35B Bond Amid Job, Office CutsIts shares fell as much as 5.2% on Tuesday, putting it on track for its eleventh straight day of losses.
August 15, 2023
BNY Mellon's Wealth Unit Names Next CIOSinead Colton Grant will succeed current Chief Investment Officer Leo Grohowski, who is retiring at year-end.
August 15, 2023
Ex-Vanguard CEO Joins VC Firm as AdvisorWilliam McNabb already serves on the boards of Venrock portfolio companies Altruist and Vanilla; he also has invested in both firms.
August 14, 2023
Schwab-TD Deal Unlikely to Unravel Due to Biden's Draft Merger Guideline"Unwinding mergers after the fact is exceedingly difficult," a Georgetown antitrust expert said.
August 14, 2023
Schwab Says TD Ameritrade Deal Leading to Retail, Advisory AttritionThe firm has stepped back from some custodial relationships with institutional clients, CFO Peter Crawford said Monday.
August 11, 2023
This Is Not the 'Altruist' You're Looking for: Michigan RIA Sues for Trademark InfringementAltruist Financial Advisors' CEO says his firm has received money intended for the California-based custodian.