Articles tagged "TD Ameritrade"
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Another A-list RIA Schwabbie lands on his feet -- this time at DeVoe & Co. -- after TD Ameritrade merger displacement of 2,000-plus
Tony Parkin takes the reins as president of the San Francisco M&A shop and reunites with ex-Schwab boss who left 14 years ago
May 10, 2024 at 1:29 AM
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
A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says
The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.
December 20, 2023 at 1:52 AM
Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation
Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.
November 3, 2023 at 3:49 AM
With the swiftness of a lightning strike, Charles Schwab Corp. fires as many as 2,000 employees with no public announcement, affecting legacy Schwab, as well as TD Ameritrade staffers
Cuts sweep up the chain of command to executive, supervisory levels – divisions thought sacrosanct hit and many positions are client-related, but not client-facing, RIABiz learns
October 30, 2023 at 10:44 PM
Charles Schwab Corp. CFO proclaims TD Ameritrade RIA conversion a 'tremendous success,' but Wall Street dour after he also disclosed TDA-'originated' $20-billion-plus assets flowed out in August
Peter Crawford points out the $1.3-trillion in converted RIA custody assets equals 100% of all TDA assets in October 2019 and that the RIA accounts were 40% more than all of retail's transition in May
September 16, 2023 at 3:09 AM
Schwab's high-wire, low-glitch TD Ameritrade RIA custody transition commenced with an improbable hire -- Tom Bradley Jr. -- sources say the two are not coincidental
Schwab Advisor Services was able to 'herd the cats,' who chose TD Ameritrade, often to avoid Schwab; it's used judicious planning, patience, tech savvy but also good communications and an inimitable Tom Bradley-brand of RIA politics.
September 6, 2023 at 12:28 AM
Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond
The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30
August 22, 2023 at 12:46 AM
After big Memorial Day systems merger, Charles Schwab & Co. gets an earful from TD Ameritrade investors -- and one RIA son-in-law -- over snafus, mobile app letdown and agonizing call center experiences
Vocal Twitter-using TDA investors don't hold back their dismay about how much got allegedly lost in translation for data and access
May 31, 2023 at 2:26 AM
A $3 billion TD Ameritrade RIA pulls assets out of Schwab --after it cut services for TDA RIAs, and got sticker shock -- ahead of merger date
Anthony "Tony" J. Mazzali, CEO of CG Advisory Services, is shifting the bulk of its assets to LPL Financial to curb the assymetric power in his custody relationship with Schwab.
May 2, 2023 at 3:26 AM
Charles Schwab Corp. boasts 99.9% success with (likely) mock conversion of TD Ameritrade data to its own systems on eve of going live, and a hidden bonus -- $500 billion in held-away TDA assets ripe for the picking
First 500,000 TDA accounts will convert to Schwab this month with the promise of little to no repapering, but Schwab braces, nonetheless, for Murphy's Law.
February 2, 2023 at 3:04 AM
Schwab shares surge 6% after it hardens TD Ameritrade merger date and affirms its $1.8-billion-plus in synergies, though it got burned by having engineers in the wrong place at the wrong time
The $8-trillion Texas firm had to rewire TDA's signature 'thinkorswim' software after learning engineers were based in heavily sanctioned Russia
October 27, 2022 at 10:23 PM
Schwab Advisor Services refuses to flinch in the face of fresh claims that TD Ameritrade RIAs will do 'significant' repapering when Schwab accounts for all aspects of the merge
The $3.5 trillion custodian concedes a count-on-one-hand number of RIAs have such exotic systems that manual intervention is needed, but otherwise, it's all good.
October 13, 2022 at 11:02 PM
Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one
The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says
October 11, 2022 at 12:40 AM
Boom, boom, boom, Charles Schwab Corp. just spent $220 million to shuck three lawsuits--a likely 'deck clearing' before the TD Ameritrade merger closes, say multiple analysts
A 2017 Scottrade class action suit inherited from TD Ameritrade, a robo-advice disclosure settlement, and TDA merger class action have all gone poof.
