Custodians
Schwab Sees Twice As Many Breakaway Candidates As Last Year
If the number of wirehouse reps nosing around Schwab's recent advisor conference is any guide, quite a few brokers are looking to make a big change next year.
Schwab Beats $788 Million Auction Rate Securities Suit Through Technicalities
A New York State judge has dismissed a complaint against Charles Schwab that argued that Schwab brokers oversold $788 million in auction rate securities as being liquid under any market conditions.
Fidelity Urges Affiliates To Court $700 Billion In Mass Affluent Accounts
There are about 18 million "mass affluent" households in the United States and a full 34% of them -- 20 per existing RIA rep -- does not have an advisor, Fidelity says.
Breakaway Broker Trend Alive And Well, TD Ameritrade Says
Contrary to speculation elsewhere, brokers are still leaving the wirehouse to join the independent advisory channel -- and TD Ameritrade is seeing record numbers of converts.
No Sign Of Franchise Revenue In Schwab's Latest Earnings
Charles Schwab's business grew over the last 12 months, but on a quarter-to-quarter basis the results were discouraging and the controversial "franchise" program didn't even rate a mention.
