In an effort to ramp up its ETF offerings, Charles Schwab announced today that it has acquired an ETF-focused money management company with nearly $4 billion in assets. Schwab paid $150 million in cash and stock for the company.
Wirehouse firms continue to upgrade their advisor workstation technology following the recent consolidation among firms.
Merrill Lynch and Morgan Stanley Smith Barney are in a battle for the crown of retail brokerage.
Advisors seem more optimistic about the economy than their own clients, according to a Charles Schwab survey of 1,200 RIAs who manage a combined $234 billion in client assets.
