NOT FOR REPRINT
Schwab's Stock Sinks After It Vows to Shrink Bank
By
Paige Smith
News July 16, 2024 at 12:24 PM
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What You Need To Know
- The firm plans to rely more on off-balance sheet arrangements to house clients' deposits, CEO Walt Bettinger said.
- The latest move comes after fewer clients opened new brokerage accounts in the second quarter than analysts were expecting.
- Six out of 10 new Schwab clients are under the age of 40.
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