Company
Dallas-based fintech offering custody, clearing and trade execution infrastructure to brokerages, robo-advisers and investing apps; formerly Apex Clearing.
State Street signed the first client of its wealth-services unit, an unnamed RIA its CEO calls one of the largest in the US, a month after launch. One undisclosed client is thin evidence that rival custody banks are bidding for the same advisors.
Reality
RQD's $74 million Bain-led raise was focused on international clearing, Datos Insights analysts say, as Fidelity moves to drop smaller RIAs. Fidelity's July 2027 cutoff at $100 million held with it gives a lift to an RQD adviser business of roughly 50 clients.
Reality
Jon Patullo, TradePMR's chief product officer since 2024, has joined CG Financial Services, a $5 billion hybrid RIA, as COO and CIO. Asked who would replace him, TradePMR named a Robinhood strategist who already runs its dual-custody roadmap.
Reality
Robinhood is seeking approval to let customers trade a curated list of US stocks and ETFs on weekends, the 48 hours a week its 24 Hour Market is shut. Weekend prices will depend on whether dealers quote through those hours and on how the trades clear and settle.
Perspective Coverage
4 publishersReality
Betterment will charge RIAs 0.20% on custody assets under $10 million and 0.12% above that from Jan. 1, with a negotiated rate past $100 million. Setting the rate by assets held at Betterment pays advisers to move a bigger slice there while Schwab or Fidelity keeps the main book.
Reality