Welcome to another episode of “Industry Moves.” Today, we’re catching up with former Schwab Advisor Services PR lead, Rob Farmer, who has just pivoted to StreetCred. Joining forces with industry powerhouses like Jimmy Moock, Emma Smith, Will Ruben, and Jason Lahita, the team at StreetCred is looking set to shake things up.
With Charles Schwab & Co going through some major changes recently, around 2,000 roles were made redundant. But in all this restructuring, they’ve managed to snag Andrew Wyse, ex-PR chief over at Pepsi. A strategic move on their part to keep their team strong amidst these internal shuffles.
Amy Richardson, a longtime staffer at Charles Schwab & Co, made the move to the realm of Registered Investment Advisor (RIA) during these changes. Despite the upheaval, she remains super optimistic about the future of the financial services sector. Resilience, she says, is key.
Interesting happenings over at Schwab and TDA – their collaboration led to a workforce reduction of about 3.5%.
Schwab veteran joins StreetCred amid industry adjustments
On the other hand, a top executive at Envestnet believes building bridges with rivals could be a catalyst for growth. Innovation is writ large on LPL’s agenda as they unveil their in-house robot.
After 24 years with Schwab, Julian Lopez waved goodbye to embark on a new journey at LPL. Known for its advisory focus and fostering entrepreneurial spirit, LPL proved to be an enticing prospect for Lopez who is eager to keep pushing the envelope in his career.
In other news, Schwab doled out a hefty sum of $52 million to robo-RIA clients who had complaints about misleading info on cash allocations. At Fidelity, things are moving and shaking with some noteworthy changes in their stock plan business, while BlackRock and Vanguard’s recent performances have been turning heads. Robinhood is also catching attention as the DOJ’s shares in the company are set to rocket.
In the fast-paced world of financial services, the only constant is change. And these industry stalwarts are showing us how to do it right.
