Articles tagged "Rick Wurster"
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Briefs: Focus Financial gets second happy Hollywood ending in LA lawsuit • Orion closes deal in record 14 days • iCapital buys ID shop • VC milestones & raises • People moves at Apex, Dynasty & Wealthfront
A Hollywood RIA took on Focus and Goldman, and lost • Reed Colley is already in the house • The SEC dings Robinhood, Schwab and Vanguard Group, and FINRA dings Fidelity • Vanguard & Schwab launch ETFs • BlackRock plots mixing alts & annuities in a TDF • Dynasty adds golf exec in HR hire • iCapital buys 'AI' KYC shop • Larry Shumbres start-up off to the races • Wealthfront's media guru departs.
January 24, 2025 at 2:40 AM
Schwab shares spike but its new CEO mostly plays defense after analysts ask why its RIA clients hit net-new asset growth norms and Schwab retail is stuck at 3.5% growth
Rick Wurster says Schwab is still building 'trust' with legacy TD Ameritrade clients disoriented by the merger and 'getting them used to' a 'completely different experience.'
January 23, 2025 at 3:21 AM
Charles Schwab will renew branch-building in retiree spots like Florida, relocate storefronts to 'high-traffic' areas, and dedicate staff to $10-million-plus accounts, new Schwab CEO says ahead of Tuesday earnings
Rick Wurster underscores that Robinhood has just 2% of Schwab assets, and his firm will direct more personnel toward $10-million-plus brokerage accounts
January 18, 2025 at 1:30 AM
Incoming Charles Schwab CEO toes edge, telling RIAs he will greenlight spot coin trades, maybe 'in short order' under Trump, but conservative firms still must have 'risk appetite,' SEC attorney cautions
Rick Wurster says Schwab is watching regulators but regulatory attorneys say financial chiefs ultimately must contend with risk of digital asset fraud and manipulation.
December 7, 2024 at 12:21 AM
Rick Wurster walks Wall Street analysts through three-part 'custody-fee' RIA plan with one surprise -- a play on 'RIA value chain,' likely a TAMP, one analyst says
Schwab's CEO-in-waiting seemed to postpone an explicit custody fee indefinitely, citing abject RIA push-back
October 16, 2024 at 2:02 AM
Rick Wurster's CEO tenure begins with a big RIA question: will he honor Bernie-tenure 'pledge' to keep custody free, or will he create a new, possibly better, pricing paradigm?
RIAs have had a limited back-channel to the c-suite since Bernie Clark's departure, and Wurster remains an unknown to the industry.
October 8, 2024 at 4:06 AM
Rick Wurster is 'ideally prepared,' for CEO role, says Charles R. 'Chuck' Schwab -- he practically runs the company, advances the business model and actually lives in Texas
The president and CEO-in-waiting has all but Walt Bettinger reporting to him, and spearheads huge initiatives in alts, banking, private banking and proprietary investments
October 5, 2024 at 3:01 AM
Walter Bettinger joins Charles Schwab Corp. mass executive exodus, leaving a very complex CEO puzzle to solve for his young, ex-McKinsey successor
CEO grew the company by $8 trillion in assets to 'powerhouse' status amid significant accomplishments -- sans RIA mention -- but shares are sagging, and its bank remains a sore subject.
October 3, 2024 at 10:12 PM
CEO Walt Bettinger had to explain why retention of TD Ameritrade assets is so good yet Schwab's fourth quarter net new assets still took a nosedive
Schwab is experiencing little slippage at all from TDA investors but unseen, largely inexplicable, investor malaise took a bite out of the triumph
January 18, 2024 at 4:06 AM
'Schwabitrade' RIA assets leap $107 billion in NNA to $3.75 trillion in first half of 2023, and just 20% of TD Ameritrade RIAs have yet to 'credentialize'
The RIA assets of TD Ameritrade Institutional and Schwab Advisor Services grew an incredible $514 billion for the 12 months ended June 30, but the real conversion looms on Labor Day.
