Pershing Advisor Services has terminated 130 advisor relationships over the last three years, and the average size of advisors joining the platform keeps climbing.
The former Treasury Secretary says it’s a good thing the DOL fiduciary rule is now in effect. Otherwise, “it just would’ve been another year or two of uncertainty to reopen it,” he said at Pershing’s Insite conference.
Robin Shanahan and Peter Strelow have been named co-chief operating officers and will report to CEO Emmanuel "Manny" Roman. Dave Ivascyn remains in charge of money management.
Independent advisors plan to expand their offerings in the next decade, Trust Company of America partners with Millennium Trust on alts and parents need help with college saving.