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Articles tagged "Charles Schwab & Co."


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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

Jamil Nazarali starts July as CEO of the Fidelity-Schwab-Citadel et al. venture.

With crypto landmines to fear greater than each other, Schwab and Fidelity co-invest in a cryptocurrency mega-startup with Citadel, Virtu and VCs Sequoia and Paradigm

The discount brokerage super-rivals are investing in a market maker venture with fellow [crypto retail] come-latelies, Virtu and Citadel -- a sign that the crypto winter hasn't chilled big investment in digital assets, even if liquidity occasionally freezes up.

June 30, 2022 at 1:49 AM

David Botset: 'We’re committed to ... continue to make our clients the beneficiaries of our strategic focus.'

Charles Schwab Corp. is jacking down ETF prices again (like a Jack Bogle) after Vanguard, again, raises a series of fund prices -- albeit with a net fee reduction

The Westlake, Texas, super-broker is making clients 'beneficiaries' while the $7-trillion Malvern, Pa., behemoth is raising prices as both firms make strategic calculations about the future.

June 27, 2022 at 3:26 PM

Stephen Greco is taking on the RIA superpowers using mafia law to attempt to level the playing field.

Stephen Greco's six-year quest to prove Creative Planning, Schwab, Fidelity and TD Ameritrade engaged in a 'conspiracy' against his RIA has even the experts baffled

In his latest move, the Spotlight Asset Group founder files a 'RICO' civil suit in federal court that one defendant calls 'ludicrous.'

June 7, 2022 at 4:27 AM

Freddy Martino says Vanguard axing of crypto fund access relates to 'honing core priorities.'

RIABiz Skinny: Vanguard purges a last vestige of crypto from its platform • Onramp raises cash lifeline after CEO kerfuffle • Max Schatzow questions whether Cathie Wood gets SEC hall pass • Schwab shares correct on earnings then get re-walloped 'sorting'

Malvern, Pa. giant does opposite of hedge crypto • Onramp lives on despite Tyrone Ross off ramp • RIA blogger sees SEC double standard • Schwab's revenues and 'sorting' have Wall Street out of sorts.

April 23, 2022 at 1:44 AM

Walt Bettinger:  We took steps to help our clients navigate the mutual fund selection process more efficiently.

T. Rowe Price gains house brand status on Schwab's active fund platform and will pay up to $10-million yearly for the honor, but the deal is not without potential conflicts of interest

In today's earnings release, Schwab CEO Walt Bettinger talked up the arrangement, which rolled out in February as part of Schwab's 'Fund Finder,' after first announcing it for RIAs in December.

April 19, 2022 at 1:58 AM

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

Bharat Masrani: We are laying the foundation for a fully national commercial franchise.

Toronto-Dominion Bank's bid to reestablish the TD brand for U.S. wealth management takes a $13-billion step forward

The Toronto owner of Cherry Hill, N.J.-based TD Bank is adding First Horizon and its 412 branches to its growing U.S. footprint -- sweeping East to West

March 1, 2022 at 4:05 AM

Jonathan Craig: Dual registration allows TDA [reps] ... to offer their clients both TDA and Schwab products and solutions in advance of account conversion.

Charles Schwab & Co. registers TD Ameritrade brokers to rep Schwab products and to retain clients who chose to convert to 'Schwab'

The Westlake, Texas giant registered TD Ameritrade reps en masse to its own broker-dealer so they can now reclaim clients who pre-converted to Schwab and also buy and sell Schwab products, open Schwab accounts, manage them, and even get paid on it all

February 8, 2022 at 11:20 PM

Lisa Salvi: Firms can ensure they have a compelling compensation strategy.

Oisin's Bits: RIAs are slow to raise wages to reflect revenue and inflation • Robertson Stephens doubles AUM, making three a charm • SEC finally explains Bitcoin ETF application failures • Tenev, Bhatt get billion dollar haircuts in Robinhood stock slump

Schwab report shows RIAs hire at bargain rates but maybe not for long • 'Robertson Stephens' third go-round, second as RIA, gains steam • SEC reveals spot BTC concern--fraud • Robinhood founders lose $3.4 billion, $3.9 billion in stock slump

February 4, 2022 at 8:21 PM

Larry Fink: It's just a number.

Five RIA Doubletakes: BlackRock AUM tops $10 trillion as active funds make comeback • Schwab has killer quarter and Wall Street sells its shares • DFA is now the largest active ETF manager • SEC flummoxes RIAs with "inaccurate" guidance • Fidelity pulls in $146 billion in workplace assets

After record AUM high, BlackRock chairman and CEO Larry Fink brushes off a milestone • SchwabSchwab hits records; Wall Street wants more • Mutual fund giant's ETF conversion yields bragging rights • Regulation Best Interest headaches unnecessary, despite SEC brouhaha, lawyers say • Workplace scheme wins big for Fidelity.

January 21, 2022 at 3:16 AM

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