Charles Schwab & Co. sets in motion monetization play for the ages to nudge zero-fee trading assets into fee-based accounts, a 'blurring' of lines between self-directed and advised assets
CEO Walt Bettinger has repeatedly trumpeted next year's rollout of proprietary direct indexing as a sort of killer app that wins index and DIY assets alike
Related Moves
The upper RIA echelon mass-exit is now at 25 execs and counting -- for 25 'reasons' -- but it's hardly a coincidence, analysts say
Burnout and EBITDA weigh on CEO-types as never-ending exits claim Ron Carson, Aaron Klein, Bernie Clark, Rudy Adolf, Bill Crager and Tim Buckley.
June 7, 2024 at 11:17 PM
Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once
The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.
May 25, 2024 at 2:45 AM
Fidelity, others pounce on TD RIAs with a vengeance following Schwab merger, but Schwab finds a white knight to defend its new Texas fort, and, suddenly, Tom Nally's future seems clouded at 'Schwabitrade'
Former TD Ameritrade RIA chief and retail chief Tom Bradley will assist Bernie Clark in instilling trust and applying 'modern' service to the under$100-million crowd during an age of anxiety at both firms
December 10, 2019 at 2:05 AM
Walt Bettinger axes current and former Schwab retail chiefs, Terri Kallsen and Andy Gill; funnels responsibilities to Jonathan Craig, for now
The Schwab CEO is 'restructuring,' which includes cutting the Chairman's Club program that sent 200 top performers to Hawaii on a free junket
