Charles Schwab Surpasses $4tn in Assets

Charles Schwab’s decision to cut trading fees to zero on October 1st is paying off with the wealth manager surpassing $4tn in client assets; the company also saw 433,000 new accounts in Q4 which was the highest quarter for 2019 overall; “During 2019 our commitment to seeing ‘through clients’ eyes’ prompted us to take a number of bold steps that further enhance our offer to clients and help position Schwab to build value for our stakeholders – clients, employees, and stockholders – over the long-term,” CEO Walter Bettinger said in the company’s earnings report according to Business Insider; the company also believes their acquisition of TD Ameritrade will help them stay ahead of innovation as the market continues to shift. Business Insider

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