Co-chief executive of
Schwab now receives 45,000 calls a day at its call centers and needs a way to cover the cost of servicing those calls, David Pottruck told the
Pottruck said he understood higher fees would create pressures on mutual funds in a slow economy. But "we have laid off all the people we can," he said. "We can do no more layoffs."
Meanwhile, Pottruck expects the institutional trading business will bring in $150 million in revenue this year.
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An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.
Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
