Articles tagged "Walt Bettinger"
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CEO Walt Bettinger had to explain why retention of TD Ameritrade assets is so good yet Schwab's fourth quarter net new assets still took a nosedive
Schwab is experiencing little slippage at all from TDA investors but unseen, largely inexplicable, investor malaise took a bite out of the triumph
January 18, 2024 at 4:06 AM
With the swiftness of a lightning strike, Charles Schwab Corp. fires as many as 2,000 employees with no public announcement, affecting legacy Schwab, as well as TD Ameritrade staffers
Cuts sweep up the chain of command to executive, supervisory levels – divisions thought sacrosanct hit and many positions are client-related, but not client-facing, RIABiz learns
October 30, 2023 at 10:44 PM
Bernie Clark chides TD Ameritrade RIAs during Schwab IMPACT for publicly airing merger transition 'negatives,' but RIAs say Schwab was quick to grease squeaky wheels
The Schwab RIA chief told the 2,500 attendees that people with negative experiences should 'tell us before you spin out into another place...' and 'we'll figure it out.'
October 27, 2023 at 2:50 AM
Walt Bettinger comes out swinging during analysts' call, and shares pop, on assurances Schwab can ride out gale force interest rate pressure on its balance sheet
The Schwab CEO deflected blame, promised to stay 'conservative,' and left Wall Street analysts wondering why Schwab won't dump bonds and offer better rates for client sweep cash
April 18, 2023 at 3:01 AM
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
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
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
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
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 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
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
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
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
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
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.
