Dropped by Fidelity? Here are RIAs' custody options

Fidelity shocked many last week when it announced it would no longer serve as custodian for RIAs bringing less than $100 million to its custody platform. 

Those RIAs will have until June 30, 2027, to find new custodians or cobble together another solution. The tick-tock of the clock will grow louder as that deadline approaches.

Dan Shaw's recent coverage offers an array of options for RIAs, from creative solutions that will keep them with Fidelity to the more challenging task of building a new custodial relationship. For the latter, there are many custody options, from the familiar names of Schwab and BNY Pershing to small firms trying to swim upstream. 

Large financial services firms including LPL Financial, Raymond James, Goldman Sachs and Wells Fargo also provide custody or clearing services to RIAs, though often through broader affiliations that differ from the traditional standalone RIA custody model.

READ MORE: The cryptic costs of clearing and custody for advisors

For advisors considering a more conventional independent custody relationship, Financial Planning Chief Correspondent Tobias Salinger's recent custodian series offers a good place to start. He has profiled some of the industry's biggest players as well as smaller competitors trying to distinguish themselves through pricing, technology, service and access to new clients.

For those who are curious and will meet the $100 million threshold, here is Salinger's profile of Fidelity and its confidential fee structure. Scroll down to see more custodian options for RIAs.