Schwab Says TD Ameritrade Deal Spurring Retail, Advisory Attrition
Charles Schwab said experiencing temporarily lower net flows of client money as brokerage sees attrition of some retail and advisory clients’ assets.
Recent
Cetera Announces Close of its Acquisition of Securian Financial's Retail Wealth Business, Boasting Record Levels of Asset Retention
Retention rates include over 91% of Securian Financial Service's professionals and $50B in client assets exceeding $47B previously stated at signing.
Goldman Sachs' Rogers to Step Back From Chief of Staff Role-Memo
John Rogers, an influential Goldman Sachs executive, will step back from his role as chief of staff next month, according to an internal memo.
Robinhood Says It’s Facing Investigation From New York State
Robinhood Markets Inc. is cooperating with an investigation from New York’s top law enforcement office into “brokerage execution quality.”
UBS Shuffles Bank Bosses in Bid to Better Compete With Wall Street
UBS announced an overhaul of its investment banking division, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse.
St. Louis-Based Financial Services Giant Sees More Leadership Churn
Wells Fargo Advisors, the St. Louis-based brokerage unit of Wells Fargo & Co., continues to make leadership changes.
Tesla Cars Only Reach Half the Range Advertised, Drivers Claim
Musk’s Tesla is facing legal battle with drivers over claims company falsely advertised how many miles its electric cars can travel on full battery.
