Articles tagged "Charles Schwab & Co."
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TD Ameritrade hedges its bets that Schwab can swallow it whole as DOJ letter lands, LINC 2021 gets planned and TD pledges it'll go 'full tilt'
The Omaha, Neb.-based firm is ready to combine with Charles Schwab & Co. if need be but ready, too, to remain its nemesis until anti-trust hurdles dissipate and the ink dries.
January 31, 2020 at 2:10 AM
Antitrust suit against Schwab and TD Ameritrade merger draws 'stunt' accusations and judge agrees
Franklin Tsung’s company, BlackCrown, filed suit in New York against Schwab and TD, but his decision to do so without a lawyer made it a clear 'stunt,' sources say.
January 3, 2020 at 5:26 PM
Schwab set to launch 'shoe-that-dropped' subscription retirement income robot that acts like a virtual annuity and produces 'predictable' paycheck
With ex-Nationwide exec in lead, Schwab Intelligent Income helps 'unsolved conundrum' creep closer to a solution -- but no guarantees on income
December 20, 2019 at 2:25 AM
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
After Andy Rachleff explains Wealthfront's corrective to banking, Jon Stein told how Betterment is investing heavily in banking but mindful of 'frothiness'
The Redwood City, Calif.-based robo-advisor co-founder explained the banking pain points at InVest West and the New York-based robo co-founder told of a $1B banking week but exulted more about RIA custody
December 6, 2019 at 11:48 PM
Breaking up is hard to do: Schwab and TD Ameritrade both on hook for $1 billion should either firm get cold feet, shareholders revolt, or antitrust regulators quash deal
The Omaha, Neb.-based Schwab target, TD, has its neck most exposed, sources say, and anti-trust concerns are real but Schwab Chairman Chuck Schwab may have improved his odds in Washington with donations to the party in power
December 5, 2019 at 9:37 PM
Schwab sends most RIAs to 1-800 custody service -- a downgrade the mass of incoming TD Ameritrade RIAs will have to swallow
The Charles Schwab Corp. is taking relationship managers from RIAs with less than $200 million in AUM, a threshold that thousands of TD RIAs will cross next year along with other presumed merger integration glitches
December 3, 2019 at 4:09 AM
Schwab's headquarters shift to Texas amid TD Ameritrade merger seems to please nobody -- outside the Dallas Chamber of Commerce--Omaha feels especially omitted
Paper benefits -- no income tax, low corporate taxes, cheap labor, cheap space -- abound, but no Schwab, TD or USAA execs are committing to working there
November 28, 2019 at 4:56 AM
Walt Bettinger sugarcoats nothing to TD Ameritrade RIAs about re-papering or technology and he calls 'modest' the importance of RIA revenues to Schwab
The Schwab CEO stressed his soon-to-be Fort Worth, Texas-based firm's emerging alpha status: 'We're on offense. We press those advantages'
November 26, 2019 at 2:09 AM
Reported Schwab-TD merger is a 'blockbuster' combo that creates a 10,000-RIA, $2-trillion custody juggernaut and may signal long-expected industry shakeout
The San Francisco and Omaha companies were the fiercest of rivals, so everybody presumed E*Trade would be the next domino to fall.
November 22, 2019 at 1:49 AM
Charles Schwab, a true American oligarch, shows no signs of slowing at 82, throwing his substantial fortune behind Donald Trump, hard-right politics and his continuing financial services revolution
The billionaire is dumping San Francisco's liberal warrens for full-time residence in the exclusive enclave of Atherton, Calif., where he'll rub shoulders with other billionaires.
November 5, 2019 at 3:35 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
CEO Tim Hockey says Schwab's zero-commission play was 'painful,' but helped TD Ameritrade focus on RIA channel and made it easier to find his successor
The Omaha, Neb.-based broker moves to appease RIA high net worth clients and braces for an upsurge in breakaway brokers that could help its custody business
October 23, 2019 at 6:26 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.
October 22, 2019 at 3:48 AM
One big casualty of Fidelity Investments' buckle on zero-fee commissions may be the zero-fee RIA custody tailwind of three decades duration
With Pershing last to collect trade revenues, Schwab, TD Ameritrade and Fido have leverage and ' I think Fidelity will be the first to try,' Kitces says.
