Articles tagged "USAA"
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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
Victory Capital admits to 'leaking' AUM after Schwab acquires USAA wealth managers, whose sales efforts let air out of Victory's USAA funds purchase
The mutual fund rollup shed $14.8 billion in fund assets in six months thanks largely to Schwab, but Victory CEO maintains the leak is being patched.
December 1, 2020 at 2:52 AM
Charles Schwab Corp.'s $1.6 billion USAA deal is yielding 1,000 referrals a week at the right price in an increasingly competitive client acquisition game
The San Francisco broker's bet that USAA insurance customers would like Schwab offerings better is proving out in the early weeks.
August 8, 2020 at 1:52 AM
Charles Schwab Corp. shaves $200 million off USAA deal price, after client asset transfers fall billions short and has now closed three of four pending deals
With TD Ameritrade on deck, the San Francisco acquirer snacked on Wasmer, Motif and USAA's brokerage unit, but the latter's 'warm lead' referral flow has Schwab execs salivating.
July 8, 2020 at 10:46 PM
After Victory Capital shows the way, Schwab antes up $1.8 billion to buy USAA's 'wealth management' and brokerage business -- and an exclusive crack (except for Victory) at the wallets of 13 million members
The San Antonio insurer sweetened the deal by entering into an exclusive long-term referral agreement for 'Chuck' to pitch its insurance faithful
July 25, 2019 at 11:40 PM
Victory Capital squeezes costs out of USAA mutual funds following acquisition, but Schwab may walk off with brokerage, wealth manager in purported $2B deal
With the deal closed, shares of the Brooklyn, Ohio-based holding firm keep skyrocketing as it exploits an asset worth far more than it paid
July 17, 2019 at 3:03 AM
With the DOL rule dead, 'the door is open' and Reverence Capital buys Advisor Group, which unites AIG's old annuity salesforce and Voya's rebranded annuity factory
Reverence Capital, which also holds big stakes in Russell Investments and USAA mutual funds. jumps at chance to own a 7,000-person sales force
May 10, 2019 at 3:00 AM
Victory Capital to pay $1 billion -- of mostly other people's money -- for USAA mutual funds and use of its sweet brand-- Victory who?
The Brooklyn, Ohio firm doubles its assets to $144 billion, adding USAA's $69 billion to Munder, RS Investments, Harvest and other assets --Brooklyn where?
November 7, 2018 at 9:27 PM
At Inside ETFs, Vanguard CEO skipped over ETFs to get to a hotter topic -- mass delivery of financial advice
In his first public speech, Tim Buckley warned that asset managers no longer have the target on their backs -- but advisors do
January 30, 2018 at 10:13 PM
Morningstar renders ETF verdict by discontinuing ETF-only conferences after category becomes the Vanguard-BlackRock show
Smaller, newer ETF players are forced to pursue micro-niches and active management -- only to encounter the big players lurking there, too
September 13, 2017 at 5:26 PM
Jack Bogle's ICI grumbles and Kunal Kapoor's 'future' mode make Morningstar's 2017 conference sparkle with an uber relevance
The Vanguard founder made a dig at ICI and the Morningstar CEO put RIA bloggers on even agenda-slot footing with BlackRock CEO and IBM's Sironi
