Clearinghouses/custodians

The firm hired more than 10,000 employees, boosting total staff to 47,000 associates.

Robinhood Markets has snared most of the attention for attracting an army of day traders during the pandemic. But far bigger profits are flowing to the family behind Fidelity Investments in Boston.

After going public, the clearing firm plans to to grow and nudge further into the traditional advisory space, says its president.

The Depository Trust & Clearing Corporation is offering a blueprint for speeding up the settlement process.

Pete Dorsey is the latest member of TD Ameritrade’s leadership team to part ways with the company after it was acquired by Charles Schwab.

Prior to the deal, the company had been making deeper forays into traditional wealth management custody.

The transaction, which could be announced as early as Monday, will be valued at $4.7 billion, according to people familiar with the matter.

A merger would value Apex and Northern Star Investment Corp. II at as much as $5 billion, a personal familiar with the matter said.

The company, which has seen headcount increase 45% since closing the deal, has eliminated more than 1,000 positions in recent months.

The Silicon Valley startup left users fuming by temporarily restricting certain purchases at the height of January’s mania over GameStop.

Behind every trade lies risk. Advisors should consider their partners carefully.

APIs, proprietary funds, customer service issues: executives explain what they’re planning as their company hits $6.7 trillion in client assets.

The firm said high volume may have curtailed access to its mobile app and urged clients to use its other platforms.

Among the new hires is Scott Collins, former head of brokerage independence and institutional sales consulting. He is one of many ex-TD Ameritrade alums seeking new employment after Charles Schwab acquisition’s of the firm.

BNY Mellon’s custodian is growing, even as it loses some major clients amid industry consolidation.

The firm’s new business highlights the beginnings of a shift in the custody marketplace due to a series of consolidations.

The deal underlines the bank’s focus on Folio's clearing and custody capabilities, as well as its 450 RIAs.

The custodian is upping the number of scholarships set aside for women and people of color.

More clients are also looking for financial advice within the custodian’s retail channel, which offers a robo advisor and full-service wealth management arm.

Advisors will face a drastically changed industry landscape and Schwab, already an industry leader, will play an even more outsized role in the marketplace.