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Schwab assures it has financial muscle to shrug off billions of dollars in unrealized bank losses, but interest rate blunder exposes vulnerability if Fed hikes continue, analysts say

An estimated 16,000 RIAs with $3.3 trillion assets custodied at Schwab Advisor Services should be insulated from any calamity at bank subsidary.

Author Oisin Breen March 30, 2023 at 3:48 AM
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Charles 'Chuck' Schwab and Walt Bettinger: Focusing on ‘unrealized losses’ is very misleading.
Brooke Southall and Keith Girard contributed to the editing of this article.

Brad Wales

Brad Wales

March 30, 2023 — 1:57 PM
In an industry known for espousing the virtues of diversification, one can't help but appreciate the irony of the outsized reliance on cash sweep revenue. The tale still to be told is how that income will be replaced. Shareholders are not often thought of as a patient bunch.


July 15, 2023 — 3:22 AM
Nope, not an apparent reversal. This was mentioned as a possibility in an earlier message (from this summer to employees about looking at the future of our future real estate foot print. These decisions are being made on a number of different factors. Whatever your sources said were likely wrong or are getting the details wrong.
Barton Frank

Barton Frank

November 10, 2023 — 10:54 PM
As a brokerage account customer of TD Ameritrade and now an account with Schwab, I cannot get information on the Schwab website that was previously available with Ameritrade. For instance, pre-market stock prices and graph are not avaiable. Hopefully, Schwab will have this feature available, shortly

Related Moves

Chuck Schwab reveals Part B, doubling-down on Walt Bettinger by making him co-chair, a day after Part A -- wagering $15 billion from the Schwab corporate treasury on the CEO's future leadership

The 84 year-old founder's elevation of his 61-year-old protege may foretell bigger fireworks from Rick Wurster who recently took over many of Bettinger's CEO duties, one executive recruiter says.

July 30, 2022 at 12:41 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

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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Morningstar, Inc.
Top Executive: Joe Mansueto

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