David Canter’s Fidelity Exit Is a Blow to the Firm’s RIA Business: Industry Experts

“Canter was normally on the forefront of industry trends and how they would impression RIAs’ businesses, generally serving in the position as a particular advisor and confidante to many of the industry’s most famed and prosperous RIAs,” Welsh reported, including Canter “will be sorely missed” at Fidelity.

Welsh labored with Canter at Charles Schwab before in their professions. Welsh was director of Company Consulting Solutions at Schwab Institutional from 1999 to 2005. Canter was with Schwab from 2000 to 2008, very first as vice president at Schwab Institutional and then head legal counsel of Schwab Institutional.

Agreeing with Welsh, Doug Fritz, CEO and founder of F2 Approach, explained to ThinkAdvisor: “I believe this is a blow to Fidelity.” But Fritz was swift to increase it’s “been softened by David’s legacy of growing expertise in just his group.”

Having said that, it continues to be “to be found no matter whether the culture will change to much more programmatic and restrictive,” according to Fritz, who included: “I hope they will go on to participate in to their strengths of support and overall flexibility!”

In the meantime, “we’re viewing actively who they’ll seek the services of in and hope it’s anyone with the exact stage of psychological intelligence and determination to company,” Fritz said. “Our fingers are crossed!”

Canter has been with Fidelity given that September 2009, when he joined the organization as government vice president, Follow Management & Consulting, Fidelity Clearing & Custody.

In March 2017, he shifted to head of the RIA segment and remained an government vice president. Prior to Fidelity, Canter served as chief lawful and compliance officer at Put up Advisory Group from Oct 2008 by way of August 2009, according to his LinkedIn profile.