Explore the latest developments concerning Schwab and Fidelity.
Schwab and Fidelity beat Goldman Sachs to the punch on long/short fund sorcery for RIAs, but the vampire squid is back with its own offer — a possible one-up
'Late' but potentially more exotic, and more profitable, the New York City fledgling custodian will impose limitations on managed accounts, but force the RIA custody leaders to deal with trading, managing and financing in its own wheelhouse.
The man-bites-vampire squid story is starting to shift to a more intuitive narrative.
Goldman Sachs is readying a resounding response to Schwab and Fidelity after being caught short with RIAs on the kind of sorcery – long-short funds – for which the New York City investment bank has long been known.
Not only will Goldman offer its own hedge fund-like product, but it will also at least partially leapfrog the No. 1 and No. 2 RIA custodians with an in-house, separately managed account (SMA) “strategy.”
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