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Articles tagged "Walt Bettinger"


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Walt Bettinger: We’re keeping our eyes [on] ... whether there’ll be an investor-oriented product... that will deliver crypto investing.'

Charles Schwab Corp. files to launch 'crypto' index ETF and 'jumps the track' of its product development guardrails, while Vanguard and others will likely heed the locomotive roaring into the market

The Westlake, Texas broker-dealer and custodian of $8 trillion of AUA promises an in-house 'crypto-tangential' index that is all but certain to disrupt pricing and send alarms to other holdouts.

March 3, 2022 at 12:07 AM

Walt Bettinger: We're getting close to a step function in terms of what RIAs and others can do for their clients to personalize investing.

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

November 4, 2021 at 2:30 AM

Abby Johnson blared no trumpets about her firm hitting $10 trillion.

Fidelity Investments flies past staggering $10T milestone, but Schwab, finally fully loaded with Q1 results from TDA merger, steals some of the Boston giant's thunder

The Boston and Westlake, Tex., companies are both on fire -- even showing surprising strength in the 'Robinhood' sector -- but Schwab's rollup of TD Ameritrade and USAA radically reduced a yawning gap

May 14, 2021 at 11:25 PM

Walt Bettinger:  'My hope and prayer is that our nation’s leaders take steps to bring our fractured country together.'

Schwab, drawn into Capitol Riot scandal, assures advisors and clients it's ceasing political contributions, while CEO laments violence; but where's Chuck?

Some clients were surprised and dismayed by company's deep involvement in politics and support for so-called 'Sedition Caucus' in Congress

January 13, 2021 at 2:52 AM

Walt Bettinger (left): 'Being a challenger defines who Schwab is as a company.'

The Schwab-TD Ameritrade merger creates one big identity crisis; Is it still a self-proclaimed 'challenger,' per Walt, or 'unbelievable fortress,' per Chuck?

CEO Walt Bettinger calls his company a 'challenger' six times in quick succession; but Chairman Chuck Schwab insists his firm now has no equal

October 8, 2020 at 3:40 AM

Walt Bettinger: The people involved in this effort currently measure in the hundreds and eventually will be measured in the thousands.

Walt Bettinger expects 'hundreds' of Charles Schwab Corp. staff tasked with wiring TD Ameritrade merger to soon soar to 'thousands' of Schwab and TD workers

The Charles Schwab Corp. CEO reassured Wall Street analysts looking for a sign Schwab believes what it promises about an imminent closing that it has yet to schedule.

August 4, 2020 at 6:12 AM

Jon Stein: Personalized portfolios with specific stocks for specific clients that still track an index -- that’s clearly where things are trending

With Schwab in Motif mode, Jon Stein tells Bloomberg Betterment's ETF view is shifting, talks 'revolution,' but declines through spokesman to confirm any imminent shift to direct indexing

The New York robo's CEO pulls no punches in a Q&A about the impersonal nature of exchange traded funds, but observers say Charles Schwab & Co. may have forced his hand toward an accelerated direct indexing timetable.

July 21, 2020 at 11:16 PM

Walt Bettinger: 'This is uncharted territory for us all.'

Charles Schwab spends an extra $27 million on staff amid Covid-19, $37 million spent to keep three M&A deals chugging ahead

The San Francisco broker paid cash in March to workers amid challenges of the pandemic as trading exploded, retail calls spiked 16%

April 18, 2020 at 6:45 PM

Robinhood founders, Baiju Bhatt and Vladimir Tenev,  are having their 'Little John' moment of zapping fees and having the saving trickle down to investors from big brokers.

With Robinhood pacing the new norm, Interactive Brokers outpaces Schwab in race to give RIAs free fractional-share trades

The Greenwich, Conn., discount broker -- with Robinhood promising to be next -- has already pulled the free-fractional lever for retail investors and plans to make the time interval for RIAs between promise and delivery -- i.e. vaporware -- far shorter than the Schwabitrade merging conglomerate.

December 18, 2019 at 10:49 PM

Walt Bettinger: I don’t know that I’d go so far as to say that we’re committed to letting anyone and anything on to our platform without regard to the economic implication.

Charles Schwab & Co. makes mutual fund owners fume by denying access to critical RIA asset data; some call it a 'cynical power play;' Schwab calls it a OneSource streamline

CEO Walt Bettinger tells analysts profit-taking and fund consolidation could be looming after $400 million hit from zeroing-out commissions.

November 1, 2019 at 7:42 PM

Walt Bettinger: I'd suggest it will play an important role in our company's future both on the retail side and potentially on the RIA channel.

Charles Schwab & Co. brings 'start-up'-style disruption to the $20 trillion mutual fund industry by zeroing out free fractional-share trade ticket charges

'We are on the offense at Schwab,' says San Francisco-based CEO Walt Bettinger, who may be leaving his own firm's margins undefended as he hands free fractional shares to friction-free blaze of disruption.

October 22, 2019 at 3:48 AM

Terri Kallsen perhaps never stood a chance.

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

July 24, 2019 at 12:53 AM

Walt Bettinger (on-screen at IMPACT): In the fourth quarter, we streamlined share classes and decreased operating expense ratios on our money market funds, enhancing the net yields available to our clients.

Citigroup downgrades Charles Schwab Corp. on fears that vise grip of lavish staff expense and slashed prices will overwhelm banking windfall

Vaunted analyst William Katz sees Schwab's expanding reliance on pushing cash to its bank to earn spread revenue as too risky to recommend a 'buy'

February 16, 2018 at 12:02 AM

Sallie Krawcheck: He proceeded to give me chapter and verse on how financial advisors are hard to manage. (Photo credit: WBUR)

Robo-advisors hit lull in everything but VC backing as reality fragments their identity

A Silicon Valley venture capitalist lectures Sallie Krawcheck on drawbacks of human advisors after she explains she needs capital to hire some

December 11, 2017 at 9:43 PM

Bernie Clark: We are at an inflection point where new technology craves data, a scenario where incumbents have the advantage.

Bernie Clark uses Schwab IMPACT 2017 as pulpit to preach Schwab scale as firewall to blaze of dystopian big-data future

With no RIA deliverable to pitch, Charles Schwab & Co. execs presented their go-big, 'no goals' vision for managing accelerating external change

November 17, 2017 at 10:45 PM

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