Articles tagged "Charles Schwab & Co."
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
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
After big Memorial Day systems merger, Charles Schwab & Co. gets an earful from TD Ameritrade investors -- and one RIA son-in-law -- over snafus, mobile app letdown and agonizing call center experiences
Vocal Twitter-using TDA investors don't hold back their dismay about how much got allegedly lost in translation for data and access
May 31, 2023 at 2:26 AM
Nantucket restaurant startup gets Charles 'Chuck' Schwab in its court after Franklin Templeton scion sues it in court; FDIC sticks it to the too-big-to-fail crowd as smallest banks skate; Peter Mallouk liked his 'base case' for re-homing $15.9 billion 'Boston Private' assets but never got to make it
Fight San Francisco billionaires with SF billionaires; FDIC decides who pays for SVB debacle; Creative Planning CEO was willing to get lucky
May 26, 2023 at 1:41 AM
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
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
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
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
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
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
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
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
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
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
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.