Article: Pershing's push for advisers doesn't worry competitors; Response to Tibergien's hiring is guarded.(News)

Byline: Brooke Southall

By and large, big asset custodians are unfazed by any advantages Pershing LLC may have gained by hiring well-known financial services consultant Mark Tibergien to take over as chief executive of its advisory unit.

While nabbing him will allow Pershing to compete more aggressively for the business of providing asset custody services to fee-based investment advisers, such rivals as Fidelity Investments, Schwab Institutional and TD Ameritrade Institutional are confident that they can withstand any advances made by Pershing Advisor Solutions LLC.

Indeed, Mr. Tibergien's arrival doesn't worry the division of TD Ameritrade ...

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