Net new assets at Charles Schwab have been driven by an 'omni-channel approach' that involves its TD Ameritrade and USAA acquisitions, as well as extensive branch reopenings.
The broker/dealer’s new Resilience Plan will support advisors’ books of business if they choose to take a leave of absence, such as for the birth of a child, personal illness or injury.
Hybrid b/d and RIA Cascade Investment Group recommended high-fee mutual fund share classes when cheaper options were available and failed to disclose the fact, the SEC claims.
'We kind of think we’re creating—and not to be arrogant about it—but a new mousetrap,' said CEO James Gorman. 'You’ve got three legitimate channels pouring assets into the house.'
Chairman and CEO Paul Reilly said the firm will 'embrace flexibility' and various work arrangements, although it has set a date for its workforce to return to the office.
The private equity firm will help the company pursue 'continued growth, technology development and expansion by acquisition,' according to the RIA. Founder and CEO Ron Carson will still be the majority owner.
