A Conversation with David Canter, EVP of Fidelity Clearing & Custody Solutions

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Episode 7

In this episode we explore some of the hottest topics in wealth management today with Dave Canter, Executive Vice President, Head of the Registered Investment Advisor Segment at Fidelity Clearing & Custody Solutions.

David Canter of Fidelity Clearing and Custody Solutions

DAVID CANTER

Dave shares his unique perspective and experience on:

  • ZeroCom –  intention vs results
    • What’s next in the wealth management business?
    • What transactions are going to ensue in the wealth management ecosystem?
    • What are the consequences & benefits of zero commissions & how is this change transforming the industry?
  • What are the driving factors pushing people to an independent model?
    • European model – What do advisors want? 
  • Advice is the key – “advice is one thing that a computer can’t deliver” (Tony Sirianni)
    • How are firms going to compete if they don’t have an advice component or if they don’t find a way for advisors to charge for advice?
    • What capabilities do advisors deliver – how do you go up the value stack?
  • How will the next generation of leaders continue to grow businesses like their founders 
  • And much more.

It’s an episode that covers a great deal of ground solid information for any advisor who is looking to gather insight on the changes in the landscape and use that knowledge to take their business to the next level.

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BIO

David Canter is executive vice president and head of the registered investment advisor (RIA) segment for Fidelity Clearing & Custody Solutions®, the business that offers a comprehensive clearing and custody platform, trading capabilities and business process and operations consulting to banks, broker-dealers, registered investment advisors, professional asset managers, strategic acquirers and retirement advisors and recordkeepers. Fidelity Investments is a diversified financial services firm that makes financial expertise broadly accessible to people investing their life savings, businesses managing their employee benefits and advisors investing their clients’ money. Since 1946, Fidelity has been helping people live the lives they want through its customer centered approach, innovative technology and investment solutions.

Prior to his current role, Mr. Canter served as executive vice president of Practice Management and Consulting for Fidelity Clearing & Custody Solutions. He assumed this position in August 2010 and was responsible for leading the development of a comprehensive Practice Management program structured around helping advisors accelerate growth, streamline their operations and manage risk.

Previously with Fidelity, Mr. Canter served as executive vice president and chief operating officer for Fidelity Institutional Wealth Services (IWS) beginning in September 2009. In this role, he was responsible for the oversight, efficiency and effectiveness of client-related operational processes. He was also the business lead coordinating legal, risk and compliance activities.

Prior to joining Fidelity in 2009, Mr. Canter managed certain operational functions and vendor relationships and served as chief legal and compliance officer for Post Advisory Group, an institutional investment advisor in the high yield realm. During an eight year tenure with Charles Schwab & Co. beginning in 2000, Mr. Canter held various management positions of increasing responsibility within the firm’s RIA business, including a corporate counsel role; vice president, Schwab Institutional Trading & Operations (SITO); and head counsel to the Schwab Institutional business. Previously, he held positions with the Quellos Group, an investment adviser focused on the fund-of-funds business, and the New York Stock Exchange Division of Enforcement.

Mr. Canter received his bachelor of arts degree in political science from the University of Wisconsin in 1990 and his juris doctorate from the University of Baltimore School of Law in 1993. He currently holds his FINRA Series 24 license and is a member of the State Bar of California.

 

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Comments (5)
  • WOW! Great conversation on important topics PLUS BRUCE SPRINGSTEEN!! Loved it!

  • Theres a lot of nuance to this zero com stuff, I think as smart as these guys are they have no idea where its really going. Neither does anyone else, its going to make a huge shift in the industry. Whats going to happen to IBDs? how do they survive?

  • A human being in charge of things, what a novel concept. Straight talk is why Independents are eating everyones lunch.If youre a wire guy/gal you are Born To Run!!

  • Great conversation!! This is a must listen-to episode

  • PS -Does anyone care if IBDs survive? Im sure the last buggy whip companies were full of good guys.

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