Clearinghouses/custodians

There’s a showdown looming between financial advisors and the custodians that safeguard their clients’ money. It’s been brewing for some time, and the move by Charles Schwab on Tuesday to offer commission-free trading makes the clash all but inevitable.

As custodial pricing continues to fall, it’s still unclear where firms will make up the the money — but analysts and advisors agree other custodians will follow suit.

By adding custody, the leading TAMP could boost revenue per advisor by approximately 200%, according to a recent report.

The firm is relying on firm reputation and word-of-mouth referrals for growth.

Triad Hybrid Solutions has added 31 advisors and $1.3 billion in AUM since the beginning of last year.

No RIA has ever custodied with TD Ameritrade when opting into the Dynasty Network.

Other custodians are skeptical that financial planners want the tool in the first place.

“Impacted positions span all staffing grades, as well as organizations and locations across the company," the company says.

The IBD trade group launched a public campaign after more than 80 cases this year alleging inadequate disclosure of mutual fund fees and compensation.

The firm’s director of technology and client engagement discusses chatbots, predictive analytic tools and what else is up next for advisors.

The IBD failed to adequately disclose conflicts of interest to clients related to receiving $10.8 million from mutual funds and its clearing broker, the SEC says.

John VanEngelenhoven, who had worked at Schwab for 14 years, custodies with rival TD Ameritrade at the new firm.

Advisor Andy Saeger reportedly reached out to two clients via email and a LinkedIn message.

The then 61-year-old employee says she got written warnings for infractions while younger colleagues went undisciplined.

Allegations rose amid multiple multimillion-dollar donations while the company’s CEO sits on MIT’s board.

An RIA owner accused the custodian of aiding his chief compliance in setting up a competing firm.

At least two clients said they received calls from the advisor where he discussed his departure from the firm, according to the complaint.

Because of bank sweeps, veterans and their families' accounts will default to a 26-basis point APY on cash — down from the 1%-2% returns they were getting from money market funds.

About 350 employees at USAA may lose their jobs due to the deal.

Reorganization includes the departure of one of the company’s highest paid executives.