Week’s Best: Charles Schwab’s Net New Assets Slip

Charles Schwab is continuing to feel the pain of the TD Ameritrade integration, reporting substantial declines in net new assets. The company reported it brought in net new assets of $11.3 billion in October, down from $27.1 billion in September and well off last October’s $42 billion. Schwab attributed the declines to attrition from losing TD Ameritrade clients as well as delayed tax disbursements in states such as California.

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