TradePMR is a custodial services and technologyprovider 100% focused on supporting growth-minded Registered Investment Advisors (RIAs). TradePMR was founded by Robb Baldwin, a former RIA, who set out to build a platform that serves RIAs the way he felt they needed to be served, with professionalism, efficiency, and care. Since 1998, TradePMR has successfully delivered high-touch service and advanced technology that helps RIAs grow and service their clients.
TradePMR serves growth-oriented Registered Investment Advisors that work with individual investors. The firm exclusively works with RIAs, no other types of advisors. RIAs that can benefit most from TradePMR’s offering are advisory firms that value strong service and can leverage that streamlined support with advanced technology to help their practice grow. TradePMR has experience working with established RIAs as well as breakaway brokers – the firm does not typically work with startup RIAs but is open to discuss options on an ad-hoc basis.
TradePMR currently serves approximately 400 RIA firms. Over the last several years, the average size of RIAs onboarded to the TradePMR platform has been around $350 million in client assets under management, however firms range significantly in size and assets. TradePMR has set out to achieve sustainable growth, meaning the firm doesn't accept every RIA that expresses interest in working with the provider. The firm has maintained a disciplined approach to growth that ensures the TradePMR team can continue delivering high-touch, white-glove service to RIAs at scale. As a private company, TradePMR does not publish the total amount of assets on the firm's platform.
No, TradePMR does not have a set minimum AUM for RIAs to leverage the firm for custodial services and technology. Instead, TradePMR evaluates each individual advisory firm to determine if it would be a good fit. The provider looks to work with growth-minded advisors who can truly benefit from its offering – if TradePMR does not feel like the relationship would be mutually beneficial it will not proceed with an engagement.
TradePMR is led by an executive team comprised of Robb Baldwin, founder and CEO, Rob Dilbone, Managing Director, Scott Victoria, Chief Operating Officer, Charles Christensen, Chief Financial Officer, and James Halvosa, Chief Compliance Officer.
TradePMR is owned by Founder, President and CEO, Robb Baldwin. Prior to founding TradePMR, Robb was a successful RIA who found himself swept into a custodian merger. Robb was promised a seamless transition and decided to stick with the provider through the move – big mistake. During the merger accounts seemingly vanished and monies were transferred incorrectly. It was difficult to get the answers and support he needed from his new custodian. It took months to sort out the confusion and even longer to rebuild trust with his clients. That experience led Robb to launch TradePMR with the goal of serving RIAs the way he wanted to be served.
TradePMR is 100% focused on serving RIA businesses and is committed to offering no retail channel to fulfill that mission. When a custodial service provider works directly with individual investors, there is an opportunity for that provider to compete with RIAs for client accounts. TradePMR exists to facilitate the work advisors do for their clients, not compete with those RIAs for clients.
TradePMR hosts its signature conference, SYNERGY, once a year right around Memorial Day. TradePMR's goal with SYNERGY is to provide RIAs with three days packed full of learning opportunities from the TradePMR team, strategic partners, and trusted industry experts. SYNERGY is a way for TradePMR to continue facilitating RIA success and arming advisors with the tools and knowledge to thrive in today's environment.
At TradePMR, pricing begins with a conversation, not a rate sheet. An internal committee consisting of leadership, sales, compliance, and finance reviews each RIA’s unique profile to better understand that firm’s operations, structure, and goals. The committee then develops a customized pricing proposal designed to fit the needs of the unique RIA.
Fusion is TradePMR’s central technology hub. It is a unified platform wherein advisors can manage and review client information, open new accounts, submit requests for service, and execute trades. The platform offers customizable widgets and an intuitive dashboard to enable easy navigation from one task to the next – advisors and service team members who are new to Fusion typically require minimal training to get up-and-running. In addition to its broad capabilities, Fusion also integrates with a wide variety of industry-leading vendors.
TradePMR offers a client portal via the provider’s clearing firm. The portal, named Access Online, offers clients the ability to view account information at any point. Through Access Online, clients can also set electronic delivery preferences for their account statements, trade confirmations, tax documents and shareholder communications.
TradePMR updates Fusion according to a robust technology roadmap and ongoing feedback from advisors. The provider looks to stay on the cutting edge of industry technology while delivering solutions that RIAs want and need. Fusion is updated every two weeks with new features and enhancements. The releases are conducted outside of market hours and after business hours. These updates are communicated to advisors via the Insight Advisor Portal and email communications.
TradePMR’s proprietary platform, Fusion is a downloaded desktop application that is accessible on Windows devices. The web-based version of this platform is currently under development which is available on Apple devices as well as tablets and mobile, with full-feature parity expected by 2023. Many features and capabilities have already been released and advisors are beginning to leverage this new solution.
If you would be interested in reviewing this information, please email firstname.lastname@example.org. The team will share TradePMR’s SOC non-disclosure agreement for signature and then can provide the TradePMR Due Diligence Package. This Due Diligence Package also details coverage for errors and omissions, risk assessment for vendor relationships, and steps TradePMR takes to prevent security breaches, ransomware, fishing, and malware incidents.
RIAs working with TradePMR have a dedicated relationship manager from TradePMR's Advisor Services Group. This individual acts as an advocate for the RIA within TradePMR and across the various departments. Operations representatives for RIAs are also introduced to key team members at TradePMR in each department (Trading desk, Cashiering, New Accounts, etc.) who will build strong, first-name-basis relationships with the full RIA team. TradePMR does not offer a tiered support system because our dedication to service dictates that all firms, regardless of size, should expect nothing less than white-glove service. For larger and more complex firms, we may assign more than one primary associate to ensure that all needs are met or exceeded.
Advisors can submit service requests across a broad range of business activities within Fusion. Once submitted, advisors can easily track where those requests stand, which TradePMR department is tackling those requests, and who to contact for an update if needed. Advisors can personalize alert settings to ensure they are up-to-date on each service request, with notifications available within Fusion, via text and/or email.
TradePMR turnover is minimal within both our Transitions team and Advisor Services team. These positions are coveted by staff and generally only well-tenured employees are considered for these positions. Our average team member across these groups has been with TradePMR for 4.2 years.
When transitioning to TradePMR, RIAs will have frequent meetings with the TradePMR Transitions team to determine required actions, develop a plan, and set specific goals to meet the RIA’s desired timeline. The Transitions team leverages high-touch service alongside advanced technology to get advisors and their clients onboarded to TradePMR quickly and accurately.
During a RIA's transition to TradePMR, the firm is assigned a dedicated Transitions team with a designated project coordinator. That project coordinator will field any and all questions that arise during the transition process, regardless of the TradePMR department.
Transitions vary from firm to firm – the TradePMR team looks to help advisors accomplish their transition on the timeline that makes sense for their team. TradePMR has helped firms transition on quick timelines, including Fairhaven Wealth Management which moved over $700M in assets to the platform in less than six weeks. Other firms may take on the move on a longer timeline, it comes down to the RIA’s unique situation and goals.
The TradePMR Transitions team uses an account transfer tool to help move hundreds of accounts to the Fusion platform at once. The tool identifies missing information and documentation to help streamline advisor-client communications and requests.
Yes, advisors can open trusts under agreement (living trusts, family trusts, marital trusts, special needs trusts, etc.) and testamentary trusts within Fusion. RIAs can also leverage select third-party trust service providers.
TradePMR offers banking services via the provider’s clearing firm, including debit cards, check writing, checking accounts, online & mobile bill pay, Certificates of Deposit (CD’s) and securities-based lending.
RIA team members can connect directly with TradePMR’s Trading department to discuss Fusion’s capabilities, navigate potential issues, and share feedback on the offering. The Trading department has extensive experience helping RIAs leverage TradePMR’s expansive trading options.
TradePMR and its clearing firm can custody a number of alternative investments, including hedge funds, REITs, Business Development Companies (BDCs), managed futures, direct participation programs (DPPs), Limited Partnerships (LPs), promissory notes, and private stock. Advisors can also leverage third-party providers to take advantage of alternative assets not available on the platform. TradePMR does not currently offer cryptocurrency or marijuana stocks within the Fusion platform.
TradePMR provides a wide array of cash processing options including standing instructions and sweeps to interest-bearing accounts. Deposit holds are typically 7 business days on all physical checks, with the funds available for withdrawal on the 8th business day. However, all funds deposited are available for trading immediately.
The TradePMR workstation includes a flexible and robust fee system that enables RIAs to establish a billing schedule that makes sense for their unique firm. Firm billings can be calculated quickly and efficiently while keeping with a RIA's preferences, such as in advance or arrears. Users can also set these fee settings to use average daily balance, beginning-of-period, or end-of-period values. Additionally, both Per-Account fee settings and Group fee settings are available, allowing advisors to provide select clients with specialized rates.
Sources and Disclosures 1 Baldwin Named one of “20 People Who Will Change Wealth Management in 2020” by the editors at Financial Planning magazine, December, 2019 ² T3/Inside Information Survey, Joel Bruckenstein and Bob Veres, May 2022, sponsored by AssetBook, Holistiplan, Advyzon, Addepar, and Fidelity Investments, T3/Inside Information Advisor Software Survey, Joel Bruckenstein and Bob Veres, March 2021, sponsored by Salesforce, and 2019 Software Survey, Joel Bruckenstein and Bob Veres, January 2019, sponsored by Orion Advisor Services and Morningstar, Inc. ³ Business Intelligence Group Announces the Winners of the 2019 Excellence in Customer Service Awards; Philadelphia, PA, May, 2019 4 50 Most Promising FinTech Solution Providers – 2019, CIOReview, May 2019