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Judge tosses class-action complaint against Schwab robo-adviser
A Northern California District Court judge dismissed a class-action lawsuit alleging Charles Schwab’s Intelligent Portfolios violated its fiduciary duty by over-investing clients in cash.
Schwab’s $200 million charge points toward conflicts with cash spreads
Cash spreads are certainly nothing new, but with almost $64 billion in assets, Charles Schwab & Co. is likely the largest robo-adviser to hold significant chunks of client assets in cash.
