The acquisition adds approximately $80 billion to Schwab’s $3.8 trillion in total client assets.
The Charles Schwab Corporation announced this Wednesday that it has completed the Acquisition of the assets of USAA’s Investment Management Company, adding around $80 billion to Schwab’s $3.8 trillion in total client assets.
Under the acquisition, the underlying brokerage and managed portfolio accounts have been transferred to the financial services company. Furthermore, Schwab has entered into a long-term referral agreement with USAA, which makes the former the exclusive provider of wealth management and investment brokerage services for USAA members.
400 former USAA employees transition to Charles Schwab
In order to support the more than one million accounts that have been transferred to Charles Schwab, almost 400 former USAA employees have joined the financial firm. Their aim will be to ensure transitioning members feel confident with the move.
Commenting on the acquisition, Walt Bettinger, President and CEO of Schwab, said in the statement: “We are incredibly honored that USAA entrusted Schwab with the vital task of building the financial futures of its members. We understand that with this transaction comes a great responsibility to USAA members and their talented employees, and we are committed to making the integration as seamless and efficient as possible."
“We are so proud to serve the men and women who have served our country and their families, and we’ll commit ourselves to working each day to continue delivering the highest level of service to them. As an employer of choice of veterans, Schwab has long supported the military community and we look forward to strengthening that relationship.”
For the USAA members whose accounts were transferred to Schwab, the company has provided them access to a new Hub on Schwab.com. According to the company, this hub will guide them through the features and services with their Schwab account.
“USAA and Schwab share an unwavering commitment to the financial security of our members and clients. Schwab approaches every decision ‘through clients’ eyes’ and offers a wide selection of investment products and services for some of the lowest costs in the industry,” added Wayne Peacock, president and CEO of USAA, in the statement.
“Our members now will receive expanded solutions from Schwab, who shares our client-centric approach and is committed to serving and employing military members.”
The Charles Schwab Corporation announced this Wednesday that it has completed the Acquisition of the assets of USAA’s Investment Management Company, adding around $80 billion to Schwab’s $3.8 trillion in total client assets.
Under the acquisition, the underlying brokerage and managed portfolio accounts have been transferred to the financial services company. Furthermore, Schwab has entered into a long-term referral agreement with USAA, which makes the former the exclusive provider of wealth management and investment brokerage services for USAA members.
400 former USAA employees transition to Charles Schwab
In order to support the more than one million accounts that have been transferred to Charles Schwab, almost 400 former USAA employees have joined the financial firm. Their aim will be to ensure transitioning members feel confident with the move.
Commenting on the acquisition, Walt Bettinger, President and CEO of Schwab, said in the statement: “We are incredibly honored that USAA entrusted Schwab with the vital task of building the financial futures of its members. We understand that with this transaction comes a great responsibility to USAA members and their talented employees, and we are committed to making the integration as seamless and efficient as possible."
“We are so proud to serve the men and women who have served our country and their families, and we’ll commit ourselves to working each day to continue delivering the highest level of service to them. As an employer of choice of veterans, Schwab has long supported the military community and we look forward to strengthening that relationship.”
For the USAA members whose accounts were transferred to Schwab, the company has provided them access to a new Hub on Schwab.com. According to the company, this hub will guide them through the features and services with their Schwab account.
“USAA and Schwab share an unwavering commitment to the financial security of our members and clients. Schwab approaches every decision ‘through clients’ eyes’ and offers a wide selection of investment products and services for some of the lowest costs in the industry,” added Wayne Peacock, president and CEO of USAA, in the statement.
“Our members now will receive expanded solutions from Schwab, who shares our client-centric approach and is committed to serving and employing military members.”
FCA License Holders: Your 12-Month Countdown to New Market Rules Begins
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24