News, Vision & Voice for the Advisory Community


After Victory Capital shows the way, Schwab antes up $1.8 billion to buy USAA's 'wealth management' and brokerage business -- and an exclusive crack (except for Victory) at the wallets of 13 million members

The San Antonio insurer sweetened the deal by entering into an exclusive long-term referral agreement for 'Chuck' to pitch its insurance faithful

Author Brooke Southall July 25, 2019 at 11:40 PM
no description available
Walt Bettinger: We believe this relationship makes so much sense for everyone involved.”

Charles Schwab


Charles Schwab & Co.



By Invitation

By Invitation

July 26, 2019 — 12:15 AM
How does Schwab's purchase impact the assets that Victory (thought they) were getting?
brooke southall

brooke southall

July 26, 2019 — 12:22 AM
Yes, I know it's confusing. But Victory bought the mutual funds assets and got those fees. Schwab bought the brokers who sold those mutual funds -- and other investment products -- and got those fees as its revenues. so, in some cases, it seems the same assets got sold twice.
dennis dugan

dennis dugan

July 26, 2019 — 6:31 PM
speaking personally, I've been with USAA for 51 years (banking and all insurances) and with Schwab for about 30 years (investing). This arrangement should be good for both firms and their customers as it plays to each of their strengths in servicing customers' needs.
Mark.  Hand

Mark. Hand

May 7, 2020 — 5:38 AM
Thanks to great people like Charles Schwab investment will always remain .What do we have without good concise investment in the future

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December 20, 2023 at 1:52 AM

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April 29, 2023 at 1:36 AM

Charles 'Chuck Schwab' called James Gorman to protest a two-broker poach, kicking off a hydra-headed legal battle, costing Morgan Stanley millions, so far

The Schwab founder and chairman invoked Charles Schwab Corp.'s zero-tolerance policy against Wall Street -- or RIA -- poaching of talent and AUM from Schwab branches.

March 9, 2023 at 1:23 AM

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