Advisers shrug off Schwab’s potential purchase of USAA brokerage

Post on July 19, 2019

Charles Schwab Corp.’s rumored plan to acquire $100 billion worth of brokerage assets from USAA is perceived by market watchers as a prudent asset-gathering move, despite past missteps by the San Francisco-based brokerage giant.

Jen Butler, director of asset management and brokerage research at Corporate Insight, also called the potential deal logical and well-suited to Schwab.

“It contributes directly to their bottom line because they certainly have the scale and ability to handle the additional assets,” she said. “For Schwab, the focus is on gathering and managing assets, and they should be aggressive.”

Click here to read the full article...