All four major trust custodians, including TD Ameritrade, Pershing, Fidelity, and Schwab, provide high-quality institutional support to their affiliates. However, although TDA was ranked very low last year, it won the trust-friendly prize this year. Fidelity ranked second, followed by Pershing and Schwab. While Pershing and Schwab still offer high quality service, they fell from their top-ranked positions to the bottom of the list primarily because they have not been as aggressive in their innovation as TD Ameritrade and Fidelity.
See Scott Martin, TD and Fidelity Win Top Honor as Advisor’s Most Trust-Friendly RIA Custodians, The Trust Advisory Blog, Oct. 9, 2010.
