Shares of Charles Schwab Corp (NYSE:SCHW) ended Friday session in red amid volatile trading. The shares closed down -0.57 points or -1.82% at $30.67 with 5.73 million shares getting traded. Post opening the session at $31.15, the shares hit an intraday low of $30.62 and an intraday high of $31.25 and the price vacillated in this range throughout the day. The company has a market cap of $40.72 billion and the numbers of outstanding shares have been calculated to be 1.32 billion shares.
On September 20, 2016 Schwab Advisor Services announced availability of a robust suite of resources and tools to help independent financial advisors develop, strengthen and maintain their cybersecurity defense. The program includes information to help advisors stay up-to-date on cyber-attack trends, regulatory developments and best practices for educating employees and clients on keeping data secure. As part of its offer, Schwab also developed action-oriented tools to guide advisors through the cybersecurity planning process, available through a new online Cybersecurity Resource Center.
Schwab’s cybersecurity initiative comes at a time when preventing cyber-attacks is top of mind for the industry, with almost 90 percent of independent advisors pointing to cybersecurity, privacy and identity theft as their top compliance concern for 2016, according to a recent study1.
“Advisors are aware of ongoing threats in a rapidly-evolving competitive and technological environment,” said Nick Georgis, senior vice president, Schwab Advisor Services. “As part of our commitment to empower independent advisors’ success, we are constantly evaluating the landscape and delivering resources and counsel to help them remain a step ahead.”
Shares of Bank of New York Mellon Corp (NYSE:BK) ended Friday session in red amid volatile trading. The shares closed down -0.15 points or 0.37% at $40.20 with 5.71 million shares getting traded. Post opening the session at $40.19, the shares hit an intraday low of $40.01 and an intraday high of $40.55 and the price vacillated in this range throughout the day. The company has a market cap of $42.74 billion and the numbers of outstanding shares have been calculated to be 1.07 billion shares.
On Sept. 20, 2016 Albridge, an affiliate of Pershing LLC, a BNY Mellon company, announced the winners of the 2016 Albridge Data Excellence Awards. The inaugural Data Excellence Awards recognize the Albridge clients who are at the forefront of driving meaningful data quality improvements in the broker-dealer industry, and who have made outstanding contributions to the Albridge Data Quality Forum community. The Albridge Data Quality Forum is comprised of operations and technology professionals from broker-dealers, custodians and product companies. The Forum participants meet regularly with the goal of advancing industry data quality practices through discussion of key issues and by sharing best practices.
Albridge recognized 23 financial institutions as recipients of the 2016 Albridge Data Excellence Award. Special recognition was given to financial services firm Baird, who was honored with the 2016 Data Excellence Champion Award, for the firm’s dedication and commitment to Data Excellence in support of the best advisor and investor experience. In addition, individual recognition was given to Heather Barnett of Cambridge Investment Research and Doree Sargent of Lincoln Financial Group for their individual efforts in driving meaningful change across the industry – specifically collaborating with product companies to improve the client experience.
“The key to the advisor-investor relationship is trust. To build this trust, advisors and investors must be confident in the data they use to make investment decisions. The award recipients have been relentless in their effort to provide advisors and investors with data integrity and data of the highest quality,” said Greg Borgman, director of data management at Albridge. “The award also recognizes the significant contributions they made to the Albridge Data Quality Forum, helping to drive industry-wide improvements for the benefit of all investors. We thank and congratulate the recipients, and look forward to helping them continue their pursuit of data excellence.”
“We are honored to receive this distinguished award from Albridge,” said Ryan Burwell, director of private wealth management technology strategy at Baird, “Providing our advisors with data of the highest-quality is just as important as ensuring that they are well-equipped to serve as strong, reliable financial partners to those who entrust their capital to us.”