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Schwab settling with YieldPlus investors
The broker is offering investors five cents to 12 cents on the dollar of the amount they lost by holding the bond fund.
Schwab to RIA clients: Did you authorize this wire transfer?
The Charles Schwab Corp. has begun calling clients of some registered investment advisers to verify that they have authorized wire transfers of funds from accounts held in custody at the broker-dealer.
Schwab announces 47% drop in net income – and a stock offering
The stock price of The Charles Schwab Corp. fell 2.5% to $18.81 in after-hours trading after the company announced plans to sell more than 26 million shares of common stock. The discount broker and leading custodian for registered investment advisers also reported that its fourth-quarter net income fell 47% from the year-earlier period to $164 million. Schwab last month signaled that it would report weaker results.
Schwab’s latest ETFs feature portfolio management
The Charles Schwab Corp. today announced the launch of six new managed portfolios of exchange-traded funds available through a fee-based portfolio advisory program.
Goldman lowers ratings, target prices on discount brokers
Discount brokers lost a vote of confidence from equity analysts at Goldman Sachs Group on Monday. In a report, Goldman cut its recommendation on TD Ameritrade Holding Corp. (AMTD) to neutral from buy, and lowered its price target to $21 from $24. It kept its ratings on The Charles Schwab Corp. (SCHW) and E*Trade Financial Corp. (ETFC) at “sell” and “buy,” respectively, but lowered its target prices on those firms and also on discount brokers OptionsXpress (OXPS) and TradeStation Group (TRAD).
Frequent traders get bullish on market, Schwab study finds
The Charles Schwab Corp.'s October survey of active traders showed a marked increase in bullish sentiment from three months earlier, the discount brokerage firm said today.
Practice management services seen as best way custodians can win RIAs
Broker-dealers that hold client assets for registered investment advisers are pointing their marketing and technology arrows at practice management.
Schwab’s mea culpa and promises to advisers
The Charles Schwab Corp. ended its annual conference for independent advisers last week with a flourish and a confession.
Schwab sees a surge this year in breakaway brokers
The Charles Schwab Corp's campaign to help stockbrokers become independent investment advisers has been picking up speed.
Schwab defies New York AG on buying back auction rate securities
The Charles Schwab Corp. today said it will not meet New York Attorney General Andrew Cuomo's demand that it repurchase auction rate securities from clients that purchased them from the discount-brokerage firm, even though its exposure to a buyback is relatively limited.
Schwab, TD Ameritrade may form DC lobbying duo on fiduciary issue
Two archrivals in the discount-brokerage and custodial business, Charles Schwab & Co. Inc. and TD Ameritrade Holding Corp., may be teaming up to lobby Washington over the fiduciary issue.
McWhinney pushes Citi brokers into fee-based model (Update)
Citigroup said Monday that it is converting the brokers in its branch network to a fee-only investment advisory model from the traditional commission-based model it previously used.
Investors still greedy? Some warn of risk levels
Investors are still taking more risk than they should, Curtis Arledge, co-head of fixed income at BlackRock Inc., warned advisers yesterday at the Schwab Impact conference in San Diego.
Schwab shares lower after August trades report
Shares of Charles Schwab Corp. fell today after the brokerage and investment manager said total clients assets fell 6 percent in August and low interest rates are pressuring revenue.
Cohen & Steers CEO: Real estate rebound could catch buyers by surprise
When the real estate cycle turns, the rebound could be more rapid than many think, according to Martin Cohen, the co-chief executive of Cohen & Steers Inc.
Schwab sees surge in breakaway brokers in just last six weeks
The Charles Schwab Corp. said its campaign to help wirehouse brokers become independent investment advisers is picking up speed at summer's end.
Fidelity to waive commissions on new RIA assets, cut technology fees (UPDATE)
Responding to Charles Schwab Corp.'s June announcement of price reductions for independent advisers and their clients, Fidelity is rolling out a competing program with a few extra twists.
Schwab unveils upgrade to adviser site
Schwab Institutional last week unveiled a significant redesign of its website for financial advisers.
Schwab unveils major upgrade of website for advisers
Schwab Institutional today unveiled a significant redesign of its website for financial advisers.
Cuomo sues defiant Schwab over ARS sales
New York Attorney General Andrew Cuomo filed a lawsuit today against The Charles Schwab Corp., claiming the brokerage firm misled customers about the safety of auction rate securities — and the firm is digging in for a fight.
