RIABiz

Raymond James poaches top Schwab RIA custody exec, as LPL, Cetera put pressure on IBDs to get RIA-hybrid competitive

Schwab RIA custody exec Elyn Davis lands at Raymond James where she'll lead 'client experience' as hybrid-RIA battle heats up among major IBDs.
RIABiz

Altruist promises 'NASA-like precision' with sweep-cash funded margin loans, aiming to solve the tax-aware long-short SMA bottleneck frustrating RIAs at Schwab and Fidelity

Altruist expects its margin lending service to be fully up-and-running by September; broad support for short-selling will follow.
RIABiz

Schwab is nixing FDIC backing on Schwab One sweep cash to 'Investor Checking' as soon as Sept. 8 by moving it all under SIPC -- with clear drawbacks for investors, say analysts

It's the latest move by the Westlake Texas RIA custodian and brokerage to bolster 'economics' of its key revenue source, but the savings aren't being passed to investors, and FDIC and SIPC coverage qu ...