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How much does Schwab's cash sweep really cost clients? investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.
Report: Schwab's Cash Strategy Costs Investors—And Itself—Millions wealthmanagement.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wealthmanagement.com Daily Mail and Mail on Sunday newspapers.
Schwab’s $200 million charge points toward conflicts with cash spreads Cash spreads are certainly nothing new, but with almost $64 billion in assets, Schwab is likely the largest robo-adviser to hold significant chunks of client assets in cash. July 21, 2021 4 MINS They say there’s no such thing as a free lunch, but Charles Schwab & Co. could have customers believing otherwise. The discount brokerage’s Intelligent Portfolios platform has long advertised itself as having no advisory fees or commissions, but a $200 million charge announced this month relating to an investigation by the Securities and Exchange Commission highlights the subtle ways free investment platforms charge for services. While the robo-adviser doesn’t technically have an advisory fee, it does earn revenue through charging for its underlying exchange-traded funds and on interest collected on holding clients’ assets in cash. ....
Charles Schwab's Fine Signals SEC Scrutiny of Robo-Advisors businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
Schwab's $200 million charge puts focus on robo-advisers investmentnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentnews.com Daily Mail and Mail on Sunday newspapers.