Charles Schwab to Roll Out Alternatives Platform For Qualified Investors

(Bloomberg) - Charles Schwab Corp. is planning to roll out an alternative investments platform in phases for individual investors this year.

The platform will offer investors access to private equity, venture capital, private credit and long-short exchange funds to start, with one or two offerings in each of those categories, executives said at the Westlake, Texas-based firm’s institutional investor day.

The Wall Street Journal reported the announcement earlier.

The new platform would be available for qualified, self-directed investors with more than $5 million in assets, the executives said.

Just recently, the company completed the integration of former rival TD Ameritrade Holding Corp., with all traders now operating on Schwab’s platform as of this month. Shares of the firm are up 9.4% for the year at the close of trading in New York.

Schwab made public earlier this month that Chief Financial Officer Peter Crawford will be retiring, with former Citigroup Inc. treasurer Mike Verdeschi taking the role, among a number of other management shifts.

By Paige Smith


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