There’s a heavyweight match brewing in the custodian game, and Goldman Sachs just entered the ring. Goldman is in the beginning stages of building out an RIA custodian and clearing platform. Once complete, they’ll be out there looking to go toe-to-toe with big names like Charles Schwab, Fidelity, and Pershing.
But what’s making this battle so interesting is… the big keep getting bigger. All the top names in the custodian arena have consolidated to become stronger competitors − Goldman bought United Capital, Schwab acquired TD Ameritrade, and Pershing was acquired by BNY Mellon. As the competition rages on, we’ll be on the edge of our seats ringside trying to determine who is winning the latest round and who is moving ahead.
But who’s the real winner of the game? It’s you, the Independent Advisor. As these top contenders duke it out, the custody business of the independent advisor becomes the top prize. Simply put, these heavyweight contenders are contending for your business!
With industry consolidation, there may be fewer options out there for you to choose from — but, these big names are going to do what it takes to attract the independent advisors with offers that will get sweeter. And as a result, independent advisors will have an enhanced ability to shop around to get exactly what they need.
And with a big name like Goldman joining the mix, going independent becomes a lot more appealing for many advisors. Leveraging a name like Goldman Sachs can be a game changer. And it makes us question if other big names, like UBS or Merrill Lynch, will also join the custody ring.
As the battle rages on, 3xEquity will give you the blow by blow details. And when you’re ready to make your move, we can secure you multiple bona fide offers all while you remain anonymous. We are the champion for finding the right home for your book of business.
Visit 3xEquity.com to learn about all the ways we can help.