Charles Schwab
Mercer Buys $300-Mln Asset RIA in Connecticut, Sues Fleeing Advisor
Rollup firm, whose private equity owner is believed to be in merger negotiations, sued an advisor last week who joined a rival RIA group.
Ex-Schwab Relationship Manager Files Age Discrimination Suit
Michigan woman, 63, asserts that she was railroaded over e-mails sent to Schwab’s RIA clients about company policies.
TD Ameritrade, E*Trade Downgraded on Rate Concerns
Deutsche Bank’s Brian Bedell wrote that the online brokers will be hurt by competition from Fidelity’s new 1.9% cash sweep-account offer and other rate-related pressures.
Fidelity Stokes New-Account War, Offering 1.9% on Client Cash
Its core cash-sweep into a high-yielding government money-market fund pressures competitors only days after Fed cut rates.
This Week’s Top Stories: Merrill to Polish Sunset Agreements, Schwab Eyes Deposit and Annuity Growth with USAA Deal, and More
Most popular stories from July 21 to July 27
Schwab Sees Cash-Management Benefit, Annuities Boost, in USAA Deal
Charles Schwab will get a quick net interest margin profit boost when it moves USAA’s brokerage and advisory accounts to its platform by shifting cash balances are shifted from money funds to its bank.
Schwab Chases Another Former Broker with Lawsuit
Discount broker pioneer accuses New Orleans advisor who left for an independent firm after ten years of violating his employment contract by soliciting former customers.
Schwab Retail Chief Kallsen Leaves in Restructuring
Brokerage giant also forces former retail head Andy Gill, who was running marketing, as part of restructuring.
Schwab in Talks to Buy USAA Wealth, Brokerage Units, WSJ Reports
Charles Schwab Corp. appears to be making a play to grab more advisory clients as fees fall for asset management and trading.
Ex-UBS Star Findley Hires Ten Former Staffers for New RIA
Advisor managing $1 billion when he was unexpectedly discharged in April has set up independent advisory firm in Ohio using Dynasty operational and Schwab custodial services.
Update: Fired Morgan Stanley Team Reach Non-Solicit Pact with Schwab
A pair of veteran brokers who Schwab sued two weeks ago to prevent them from calling their former high-net-worth clients have been fired by their new employer, Morgan Stanley.
