Charles Schwab
Jay Z, Charles Schwab-Backed Ethereum App Opens Doors to Public
The behind-the-scenes blockchain startup Alchemy, which powers 70% of the top applications on Ethereum, is stepping into the public eye as it opens its services to any company or developer looking for tools to build smart contract-based projects.
Fidelity Sues Atlanta Broker Who Joined Merrill Lynch
Accuses advisor who was managing $356 million of breaching his employment contract by soliciting clients and offering at least one of them lower fees.
Edward Jones Applies for Bank Charter, Hires Former UBS Banker
The bank, which is expected to begin operations in late 2021, will expand Jones’ securities-based lending menu and give it deposit capabilities.
Brokers’ Plans to Join RIAs Hit Covid-19 Roadblock–survey
About one of four brokers surveyed still plan to go independent, but the pandemic has delayed their exit schedules and caused them to seek options where they will receive greater support than they had planned.
Schwab’s Deal for TD Ameritrade Wins Antitrust Approval
Charles Schwab Corp. won U.S. antitrust approval to buy rival TD Ameritrade Holding Corp., a $26 billion deal that further consolidates the brokerage industry.
Customers Pull Suits Opposing Schwab Purchase of TD Ameritrade
Online brokerage giants say they disclosed additional information about valuation of the $26-billion deal in return for plaintiffs’ agreeing to dismiss eight federal suits.
Goldman to Buy Folio Financial, Venture Into RIA Custody
After absorbing the mass affluent United Capital RIA firm in July, Goldman pushes ahead to custody assets of other RIAs through acquisition of tech-savvy Folio.
Fidelity Posts ‘Help Wanted’ for Advisors, Customer Reps
Fund and brokerage behemoth accelerates hiring of about 2,000, including licensed advisors, to contend with questions spawned by volatile markets and government extension of tax and IRA contribution filings.
Schwab-TD Ameritrade Merger Draws Another Lawsuit
A TD Ameritrade shareholder in New Jersey files to block the merger, claiming inadequate disclosure of assumed valuations used by firms and their bankers.
Serial Litigant Sues to Block TD Ameritrade-Schwab Merger
The lawsuit is at least the third filed by a TD Ameritrade shareholder alleging “materially incomplete” disclosures about its pending sale to Charles Schwab Corp.
RIA Mergers Continue But Coronavirus Slowdown Likely
The record pace of RIA mergers and acquisitions is likely to slow as the pandemic inhibits processes and valuations, bankers say.
