Charles Schwab Corp. announced Wednesday it completed its acquisition of Windward Investment Management, Inc. for $150 million in cash and stock.

The deal was originally announced in August. Windward had $4.24 billion in client assets under management as of Sept. 30.

The Windward business is now named Windhaven Investment Management, Inc. Windward portfolios will now be called Windhaven portfolios and will be available as part of Schwab’s Managed Account Access service for investment advisors immediately and to Schwab retail clients in the coming months.

“We are pleased to be able to provide our investment advisor and retail clients with convenient and cost effective access to Windward’s portfolio management expertise,” Walt Bettinger, Schwab’s president and chief executive officer, said in a press release. “Their long-term track record of portfolio construction which has balanced risk management with market outperformance through global diversification is a tangible testament to the power of their approach and will be a great addition to Schwab’s investment management solutions.”

Windward manages three investment portfolios. As of Sept. 30, all three have outpaced their respective benchmarkts. The Windward Diversified Conservative portfolio increased 71.9% in the first nine months of this year, compared to 64.7% for the Barclays Capital Aggregate Bond Index. The Windward Diversified Growth portfolio gained 94.4%, compared to 38.8% for a blended index combining the S&P 500 and the Barclays Capital U.S. Aggregate Bond indices. The Windward Diversified Aggressive portfolio gained 120.3% for Windward's, compared to 17.9% for the S&P 500 Total Return Index.

Schwab had $1.47 trillion in client assets under management as of Sept. 30 .