BW Equities Valuation, page-9

SW need to direct their efforts and dollars to where it would give them best bang for buck and I'd say that's:

1. Customer Care
2. Customer experience
3. Expanded offering

Doing their own clearing would require a lot of management attention and deliver little to the end customer. So I think it makes little sense right now.

What I would do though is periodically shop for other options in case OM becomes difficult in which case SW should have a ready to go plan for an alternative.

But if they're both playing nicely together (as they seem to be) they'll be more effective as a team/partners than either of them trying to go it alone imho.