Financial Services Industry
Industry: Email Alert RSS FeedWaterhouse has a deal for advisers: Get advent sans hassle but there is a catch.
Investment News, April, 2002 by Southall, Brooke
TD Waterhouse Institutional Services has long labored under the pall that it is everything Schwab Institutional is -- but less so. Not anymore. The New York discount broker is teaming up with Advent Software Inc., the giant of portfolio-management software, and will now boast a standout offer that Schwab won't be able to match.
There's only one catch: The offer applies only to assets that advisers keep custodied with TD Waterhouse -- a condition that is giving some in the industry reason to pause. "That's like, 'Here, have a free car, but I'm only going to let you use it if you take me for a ride,"' says Ward Harris, managing principal with McHenry Consulting Group in Berkeley, Calif. DUELING MODELS The Waterhouse deal was...
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