Lisa Shidler

It is not surprising, but interesting how a firm like DFA that has a long range objective of always seeking to find ways to improve client outcomes can create arrangements such this one. The buzz around our firm has been incredible about this change and now we're faced with how to address the significant disparity that exists across at other custodians where our clients at Dynamic Wealth Advisors hold assets. There does become a point at which it is not appropriate to hold assets at certain custodians (or at least to recommend to clients that they not hold certain assets). Like Mr. Van Slyke noted, I think we may have reached that with DFA's arrangement with TD Ameritrade.

Finally, an awaking to the client's well being as a catalyst to innovation. On this basis, the fiduciary duty of the advisor and professional standing in advisory services will endure for all the right reasons. SCW

DFA and TD Ameritrade strike 'strategic' deal with potential to shift RIA custody power axis

TD Ameritrade

Schwab Advisor Services

Fidelity Clearing & Custody Solutions

Christopher Van Slyke

David Butler

Tim Hockey

Asset custodians are the central players in the RIA business and choosing one is the biggest decision most financial advisors will make to build their business. As the place where RIAs park their assets (the same way a captive broker would park assets at Merrill Lynch or UBS), custodians serve hundreds or thousands of these registered investment advisors and make big investments in technology and service on their clients' behalf.

This section features a series of articles under the “Asset Custody Project” label that cover these companies in a way that keeps advisors abreast of their progress – both with journalistic commentary and a common set of data so that advisors can easily compare them. The articles look at the strengths, weaknesses and niche capabilities of these companies.

&mdash; Brooke Southall

Here are links to the profiles of custodians:

 <li><a href="http://www.riabiz.com/a/11942001/">Equity Advisor Solutions</a></li>
 <li><a href="http://www.riabiz.com/a/4977738934910976/with-robo-advisors-on-the-rise-robo-custodian-apex-is-rising-them-a-diamond-mined-from-the-rubble-of-the-penson-worldwide-debacle">Apex Clearing</a></li>
 <li><a href="http://www.riabiz.com/a/11320001">Raymond James</a></li>
 <li><a href="http://www.riabiz.com/a/10207085">State Street</a></li>
 <li><a href="http://www.riabiz.com/a/1812010">Ceros Financial</a></li>
 <li><a href="http://www.riabiz.com/a/9033656">Fidelity</a></li>
 <li><a href="http://www.riabiz.com/a/7435709">Pershing</a></li>
 <li><a href="http://www.riabiz.com/a/1212007">Royal Bank of Canada</a></li>
 <li><a href="http://www.riabiz.com/a/133138">Scottrade</a></li>
 <li><a href="http://www.riabiz.com/a/8101589">Schwab</a></li>
 <li><a href="http://www.riabiz.com/a/8788433">TD Ameritrade</a></li>
 <li><a href="http://www.riabiz.com/a/124061">Trade-PMR</a></li>
 <li><a href="http://www.riabiz.com/a/1161005">Trust Company of America</a></li>
 <li><a href="http://www.riabiz.com/a/1490002">BNY Mellon</a></li>
 <li><a href="http://www.riabiz.com/a/5385142">Folio Institutional</a></li>
 <li><a href="http://www.riabiz.com/a/108011">Shareholders Service Group</a></li>
 <li><a href="http://www.riabiz.com/a/5933001">National Advisors Trust</a></li>
 <li><a href="http://www.riabiz.com/a/22600260/how-us-bank-appeared-on-the-scene-as-an-ria-custodian-and-where-it-might-find-love">US Bank</a></li>
</ul>

If you want a more chronological look at news about the custodians, just scroll down.

RIA Custodians

Tension in the three-way relationship between Fidelity, Dimensional Fund Advisors and the RIAs who use both vendors creates opening for Tim Hockey

DFA and TD Ameritrade strike 'strategic' deal with potential to shift RIA custody power axis

Jim Cannon

Stephen Winks

Related Moves

August 8, 2019 at 6:32 PM

July 23, 2019 at 4:30 AM

March 13, 2024 at 1:46 AM

December 20, 2023 at 1:52 AM

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