H.D. Vest Drops First Clearing for Fidelity
August 16, 2017 By Diana Britton, WealthManagement.com The independent b/d's 4,400 advisors are expected to make the transition to Fidelity's clearing platform in mid-2018. Tax-centric independent broker/dealer H.D. Vest Financial Services is switching its clearing firm from First Clearing, a division of Wells Fargo, to Fidelity Clearing & Custody Solutions (FCCS), according to a spokesperson for the b/d. The firm is expected to make the transition in mid-2018. An H.D. Vest spokesperson said the firm did a thorough analysis of its clearing, considering technology platform, service and relationship management, governance, analytics and culture. “H.D. Vest and Fidelity share a common philosophy—that creating an exceptional client experience should be at the core of every business decision,” the spokesperson said in a statement. “HD Vest was looking for the clearing provider with the service and technology that...