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Genovese Burford & Brothers Blog

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Schwab Drops Trade Fees on ETFs to $0, TD Matches

From Investment News, "Just 10 hours after Charles Schwab announced it was eliminating trading commissions on U.S. stocks, exchange traded funds and options starting Oct. 7, rival TD Ameritrade Holding Corp. upped the ante by cutting the same commissions starting Oct. 3." Mike Genovese commented, "We believe Fidelity will follow suit shortly, so all GBB fee-based clients should benefit equally from these cost reductions from our primary custodians." GBB's Investment Director, Rich Cheever, commented, "A price war broke out this month between brokerage firms when Charles Schwab announced that it was eliminating commission for online trading of U.S. stocks, exchange-traded funds and options effective October 7th.  TD Ameritrade has followed suit and eliminated online commission for ETFs and U.S. listed stocks as well.  Fidelity has not made an announcement yet, but we expect that they will be forced to eliminate commissions as well to stay competitive.  The announcement doesn’t impact trading of mutual...
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Genovese Burford & Brothers Named to 2019 Financial Times 300 Top Registered Investment Advisers

Genovese Burford & Brothers Named to 2019 Financial Times 300 Top Registered Investment Advisers
June 27, 2019– Genovese Burford & Brothers is pleased to announce it has been named to the 2019 edition of the FinancialTimes 300 Top Registered Investment Advisers. The list recognizes top independent RIA firms from across the U.S.  This is the sixth annual FT 300 list, produced independently by the Financial Times in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the asset management industry. RIA firms applied for consideration, having met a minimum set of criteria. Applicants were then graded on six factors: assets under management (AUM); AUM growth rate; years in existence; advanced industry credentials of the firm’s advisers; online accessibility; and compliance records. There are no fees or other considerations required of RIAs that apply for the FT 300. The final FT 300 represents an impressive cohort of elite RIA firms, as the “average” practice in this year’s list has been in...
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Cryptocurrencies and Blockchain Technology

Cryptocurrencies and Blockchain Technology
We’ve received multiple inquiries regarding Bitcoin and blockchain technology, and how disruptive it might be. Here are our thoughts on the recent technology. As cryptocurrencies like “Bitcoin” have seen their values fluctuate wildly over the past two years, bitcoin, and blockchain, the underlying technology that powers it, have captured investors imaginations. Blockchain at its heart is a distributed-ledger technology that employs cryptography to ensure the integrity of the data it stores. For all its hype, blockchain is basically just a novel approach to database architecture where control of the data is distributed among all the parties using it. This architecture is enabled by cryptography and the use of tokens (i.e., cryptocurrencies) as incentives for participants to perform the work to ensure the data’s integrity. What makes blockchain so disruptive is its shared ledger eliminates the need for intermediaries to establish trust and authenticate identity between two untrusted parties who want...
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