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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
3 Comments
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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.

RIA Custodians


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.
Schwabbie

Schwabbie

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

July 30, 2022 at 12:41 AM

Walter Bettinger joins Charles Schwab Corp. mass executive exodus, leaving a very complex CEO puzzle to solve for his young, ex-McKinsey successor

CEO grew the company by $8 trillion in assets to 'powerhouse' status amid significant accomplishments -- sans RIA mention -- but shares are sagging, and its bank remains a sore subject.

October 3, 2024 at 10:12 PM

Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once

The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.

May 25, 2024 at 2:45 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

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