Schwab saw decline in net new assets in Q4
'No one at Schwab is kidding themselves that everything is perfect right now,' says CEO Walt Bettinger.
Charles Schwab Corp.’s shares tumbled after the brokerage reported declines in profit, new assets and deposits as it navigated a tumultuous year of interest rate hikes that dented the firm’s balance sheet.
Schwab said net new assets fell 48% to $66.3 billion in the fourth quarter while net
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