Schwab enters Canada

December 21, 1998, 1:00 a.m. EST 1 Min Read

Charles Schwab has gained a foothold in the Canadian market. Schwab announced Dec. 14 it has acquired privately-owned Priority Brokerage and Porthmeor Securities, both of Toronto. Paul Bates, president and ceo of the two widely held firms, will stay on as president and ceo of the combined firm, to be renamed Charles Schwab Canada. David Pottruck, president and ceo of the San Francisco based parent, said Canada is an established market that represents immediate and long term opportunities for Schwab. The acquisition, for an undisclosed price, is subject to regulatory approval.

For reprint and licensing requests for this article, click here.

Money Management Executive

MORE FROM FINANCIAL PLANNING

Industry News

Advisor360° taps retired MassMutual exec as new CEO

Advisor360° names former MassMutual exec Mike Fanning as its new CEO

By Rachel Witkowski

April 23
Regulation and compliance

Ex-Army advisor to bereaved families faces decades in prison after fraud plea

Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.

By Dan Shaw

April 23
Industry News

Ameriprise closing in on $1T in client assets

The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.

By Tobias Salinger

April 23
Regulation and compliance

DOL issues final retirement advice rule, setting up potential court fight

Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.

By Tobias Salinger

April 23
Practice and client management

Few Americans put their pets in their wills. Here's why they should

Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.

By Nathan Place

April 23
Industry News

Fidelity launches new hub to help lead advisors to organic growth

Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.

By Rachel Witkowski

April 23