TD RIAs could face sticker shock in Schwab's referral program (2024)

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IAN WENIK, CITYWIRE RIA Editor’s Picks Schwab has elected to keep its pre-existing fee structure for Schwab Advisor Network, which could lead some ex-TD RIAs to pay more for referrals of wealthy clients. Leave a comment Fidelity Institutional vice president Anand Sekhar encouraged RIAs to think beyond the job board when it comes to finding talent. IAN WENIK, CITYWIRE RIA Editor’s Picks Opinion & Analysis John Coumarianos takes a closer look at SYLD, a quantitative ETF that invests in stocks with high dividend yield and share buybacks. This focus, and the fund's equal weighting, means it offers diversifcation from the Magnificent Seven. Better Business In a conversation informed by behavioral psychology, Orion executives Daniel Crosby and Tim Holland shared some tips for advisors on how to guide clients through uncertain times. Connect Another selection of the best pictures from Citywire RIA's CIO Summit in Austin, Texas. ETFS John Coumarianos takes a closer look at SYLD, a quantitative ETF that invests in stocks with high dividend yield and share buybacks. This focus, and the fund's equal weighting, means it offers diversifcation from the Magnificent Seven. Publications Fix The Future

TD RIAs could face sticker shock in Schwab's referral program (1) TD RIAs could face sticker shock in Schwab's referral program (2)

IAN WENIK, CITYWIRE RIA

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Schwab has elected to keep its pre-existing fee structure for Schwab Advisor Network, which could lead some ex-TD RIAs to pay more for referrals of wealthy clients.

TD RIAs could face sticker shock in Schwab's referral program (3)

By Ian Wenik

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Former participants in TD Ameritrade’s AdvisorDirect RIA referral program may need to pay more for the clients they receive through CharlesSchwab’s Schwab Advisor Network.

Schwabhas elected to retain its pre-existing tiered basis point fee pricing structure, according to a source familiar with the situation and Schwab presentation materials reviewed by Citywire.

The changes come asSchwabcontinues its consolidation of the two referral networks under theSchwabAdvisor Network brand name.Schwab has invited 175 out of 298 prior participants inSchwabAdvisor Network and AdvisorDirect to join the combined program, which sends out clients ofSchwabbrokerage branches needing complex advice to RIAs in exchange for a fee.

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