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Articles tagged "Charles Schwab & Co."


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Amy Richardson: It was all of the things I loved at Schwab but on a more intimate basis.

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

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Schwab Network promise of politics-free business news may be a knock on FoxBusiness and Bloomberg.

Charles Schwab Corp. pulls a complete rebrand (almost) of TD Amertrade's web news site, a CNBC-look-alike popular with RIAs now called 'Schwab Network'

The Westlake, Texas firm's network joined Bloomberg, CNBC and FoxBusiness with live market coverage at all hours during the COVID lockdown

August 26, 2023 at 2:39 AM

Jamil Nazarali: We are committed to key institional best practices.

Belated Fidelity and Schwab co-op crypto venture suddenly looks timely, even predatory -- with crypto whiz kids 'belly up' and Bitcoin rising

The two RIA custody mega-rivals -- with Citadel and Virtu providing much trade muscle -- launch SEC-sensitive 'EDX' 12 years after Coinbase founding and after many 'digital asset' pioneers blew up

June 22, 2023 at 8:28 PM

Derek Notman: It was a soul-crushing experience.
May 31, 2023 at 2:26 AM


Bill Crager: 'All economics related to custody average around 15 basis points.'

Envestnet will roll out RIA custody by 2024, disputing Bernie Clark's lean Schwab profit math, by citing average 15-basis-point margins

The Berwyn, Pa. company says Schwab's own public disclosures Clark's 'nine basis point' claims, though Envestnet will likely need to hand over as much as half the take to FNZ, a competitor says

May 13, 2023 at 1:03 AM

First Republic tellers let three or four people wait inside and the rest on the sidewalk.

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

Ken Fisher's firm is Texas-bound from Camas, Wash., where it already lives.

With 15,000 Fidelity, Schwab and Vanguard staffers there, Dallas metroplex notches Fisher Investments headquarters almost as a formality; Ken Fisher and 1,200 staff are already Lone Star denizens

The $189-billion national RIA of Camas, Wash. evinced being incensed over a Washington state court ruling upholding a state capital gains tax--the final straw behind the move.

April 1, 2023 at 3:42 AM

Julian Lopez: I'm close to Kelly [Smith].We worked together.

Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'

The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.

February 23, 2023 at 8:14 AM

Fidelity's Kevin Barry: Acquiring Shoobx was a natural next step.

Biz Briefs: Schwab puts checks for $52 million in mail to robo-RIA customers allegedly misled about cash allocations • BlackRock blacklisted (again) • iShares beats NZAM-exiter Vanguard • Fidelity makes first acquisition in eight years • CFP board realizes Moms don't like CFPs

BlackRock gets Kentucky coal in stocking, and Vanguard keeps skating; iShares inches above -- by 2.8% -- Vanguard's annual net new ETF asset haul; Fidelity takes "natural next step" for stock plan business; new CFP chair outlines plans and the DOJ is set to become a major Robinhood shareholder..

January 13, 2023 at 3:01 AM

David Root: Schwab would never let Fidelity get too far ahead in any offering so as to lose business.

After Fidelity grabs huge slice of NTF market, Charles Schwab & Co. undercuts OneSource by creating a second NTF program where zero commissions apply to 930 mutual funds for half price

The Westlake, Texas broker will now take a 12- to 19-basis-point fee on the new (institutional no-transaction fee) INTF platform versus the 40-basis-point shellacking by OneSource.

November 8, 2022 at 1:13 AM

Robb Baldwin: The reality is … 100% of advisors will be impacted.

Schwab Advisor Services refuses to flinch in the face of fresh claims that TD Ameritrade RIAs will do 'significant' repapering when Schwab accounts for all aspects of the merge

The $3.5 trillion custodian concedes a count-on-one-hand number of RIAs have such exotic systems that manual intervention is needed, but otherwise, it's all good.

October 13, 2022 at 11:02 PM

Bob Veres: Several advisors have told me their relationship manager has tipped them to a Labor Day weekend deadline.

Schwab Advisor Services denies reports of a Sept. 2023 'hard date' to finalize TD Ameritrade merger as new details emerge about behind-the-scenes efforts to accomodate TDA RIAs

Since at least February, Schwab has been running 'JumpStart' a new program to let TDA RIAs add net new assets onto the Schwab system ahead of the mass conversion of legacy assets.

August 12, 2022 at 1:29 AM

Rick Wurster's wide domain as a new president includes Schwab's $145-billion house RIA and now its semi-antiquated brand is being  replaced.

Charles Schwab & Co. turns an RIA page by killing its 'Schwab Private Client' brand to make Schwab DIY investors, with $3 trillion of largely unadvised wealth, 'aware' of its in-house wealth management services

The $145 billion RIA is now 'Schwab Wealth Advisory' with a new president, Rick Wurster, recently taking the RIA under his oversight and software MoneyGuidePro dialed in.

July 11, 2022 at 8:58 PM

Louis Harvey: 'Schwab could elevate its robo to be a true fiduciary.'

Charles Schwab & Co. will pay $187 million settlement after SEC drops its 'pre-set for business reasons' case

Federal regulators claimed Schwab pre-set client cash allocations without making proper disclosures to Schwab Intelligent Portfolios clients.

July 7, 2022 at 12:10 AM

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