Charles Schwab shutters 79% of TD Ameritrade branches -- though 140 will cohabitate with a next-door Schwab branch -- and refers legacy TDA assets to legacy TD RIA custody clients
The San Francisco retail brokerage will keep 400 branch addresses and no legacy Schwab assets will get referred to a 'TDA' RIA for now.
Douglas Sawyer
Brooke
SAM W TROLINDER
Dan w
Nanz
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2023 was great RIA year and nobody really noticed, setting up 2024 for a more visceral reap
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A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says
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December 20, 2023 at 1:52 AM
Schwab 2,000-layoff aftershocks roil the industry as it's revealed top tech talent -- led by widely regarded veteran Kartik Srinivasan -- were axed, raising questions about future of Schwab innovation
Behind every layoff a human story as pink slip to an 'unbelievable talent' epitomizes company's determination to cut $500 million in expenses.
November 3, 2023 at 3:49 AM
Charles Schwab Corp. discloses imminent, sweeping 'TD Ameritrade' layoffs, indirectly revealed in new SEC filing that reports it will expense severance mostly in 2023 to gain 'incremental' $500 million synergy in 2024 and beyond
The Westlake, Texas, firm had not previously disclosed the cost of terminations -- people and offices -- or that so many of the farewells will happen by Dec. 30
August 22, 2023 at 12:46 AM
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TD Ameritrade
Asset Custodian
Top Executive: Tom Nally