Custodians Moving Toward Transition Financing, But For Now Schwab Leads The Way

Tuesday, November 29, 2011 08:14
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Custodians Moving Toward Transition Financing, But For Now Schwab Leads The Way

Tags: legacy | retirement plans

Schwab Advisor Services has been making a splash this month by announcing that it will soon provide financing for junior advisors looking to buy out their retiring colleagues. But the other custodians are right in step.

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Schwab says it will finalize its program in the first quarter, at which time they'll give advisors a way to make generational succession plans happen.

 

Despite critics, it turns out that TD Ameritrade is also working on a financing option and it is also aiming at the first quarter to make it go live.

 

Fidelity and Pershing already do it on a case-by-case basis.

 

But in formal terms and in the eyes of the industry, Schwab is still the nominal leader here. Let's see what the next few months bring.

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