Schwab CEO says multiple custodians add risk, RIAs beg to differ

by NEIRG NEWS | Nov 26, 2019

Following the announcement of the $26B Schwab and TD Ameritrade deal, Schwab CFO Peter Crawford noted that the need for RIAs to have multiple custodians is ‘a little bit overstated.’ President and Founder Nick Giacoumakis shared his perspective with Citywire USA, noting that having multiple custodians is a benefit for clients who want choice.

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