Schwab Improves Results but Misses Estimates; Citi Tops Expecations on Strong Sales
The advisor services unit sees strong year-over-year flows and asset improvement.
New Hire Roundup: Maglan Capital Welcomes Ashley Cooke
Also this week in new hires, U.S. Bank's Private Client Reserve named two to key posts.
Schwab Dodges FINRA Action on Arbitration Waivers
A FINRA disciplinary panel on Thursday upheld Charles Schwab’s decision to include a class-action waiver in its customer arbitration agreements.
401(k) Fee Transparency: Best & Worst Providers
Dalbar and Research magazine conducted an in-depth study of the new ERISA 408(b)(2) disclosure rule, providing rankings in key categories of big providers.
Chuck Schwab: We’ll Go Over Cliff, but Let’s Move On
In conversation with Maria Bartiromo and the brains behind KKR, Chuck Schwab talks alternative investments, one benefit of Dodd-Frank, and why he’s willing to write a bigger tax check.
Schwab’s Sonders: Election Gives ‘No Clarity’ on Fiscal Cliff; Townsend on Dodd-Frank
If Congress and Obama don’t show they can “play nicely in the same sandbox,” consumer confidence would suffer and there would be a real risk of a modest recession, Schwab’s chief investment strategist says, though she still sees some silver linings post-election.
New Hire Roundup: Aberdeen Adds NYC Office
This week in new hires, MFS Investment Management welcomed Philip Stewart and promoted David Bryant; Leslie Voth was named CEO at Pitcairn; and Michael Millman joined U.S. Bank’s Private Client Reserve in San Francisco.
SEC, FINRA Enforcement Roundup: Schwab's BrokersXpress Hit With Another Fine
FINRA and the SEC recently took action against a number of firms for everything from fraud to supervisory failure that in some cases cost the firms dearly.
Economy’s Been Down So Long, It Looks Like Up: Schwab’s Liz Ann Sonders
In her keynote speech at the Morningstar ETF Invest conference, Sonders asserted that she’s a contrarian, so the pessimism she hears “is music to my ears.”
FINRA Files Complaint Against Schwab for Asking Customers to Sign Waiver
FINRA announced Wednesday that it had filed a complaint against Charles Schwab & Co. charging the firm had violated FINRA rules by requiring its customers to waive their rights to bring class actions against the firm.