In line with its decision to sell
But the firm isn’t walking away from trust services; Schwab is about to launch a personal trust business, to be followed by corporate trust. Many advisers are glad that Schwab is divesting itself of U.S. Trust, for they feared that it would poach their customers. “We appreciate that Schwab is setting up a friendly trustee that will not compete with us for asset management,” said Michael Kossman, COO of
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.