New custodian to tackle transparency for $1

Financial Planning – In a story about custody, Healthy Markets Executive Director Tyler Gellasch is quoted saying “I suspect smaller RIAs will welcome competition, but the incumbents offer a lot more than just custody and trading services, and they’ve been doing this a long time.” Gellasch also said “Thousands of physics and engineering Ph.D.s have spent decades trying to save fractions of seconds and fractions of pennies, It’s going to be extraordinarily challenging for any new entrant to be doing that in a materially more efficient way.” (Full Story).

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