Charles Schwab Completes Asset Acquisition of Wasmer Schroeder

The Charles Schwab Corporation has announced earlier today in San Francisco that it has completed the asset acquisition of Wasmer, Schroeder & Company, LLC for an undisclosed amount.

Wasmer Schroeder is an independent investment manager of fixed income separately managed accounts. The company has $10.7 billion in assets under management as of the 31st of May 2020.

Following the acquisition, Charles Schwab, an American bank and stock brokerage firm, will now be able to offer Wasmer Schroeder’s suite of tax-exempt and taxable strategies, complementing its existing fixed income capabilities.

“The acquisition enables the growth of Schwab’s fixed income separately managed account business, and will help Schwab meet increasing client demand for income in retirement,” the stock brokerage said in its statement today.

In addition to acquiring assets of Wasmer Schroeder, Schwab has hired nearly all of of the investment manager’s team. The deal will allow Charles Schwab to grow its fixed income separately managed account business, by providing the opportunity for increased asset flows.

Charles Schwab continues acquisition spree

As Finance Magnates reported, the all-cash transaction was first announced in February of this year. Today’s announcement follows on from a string of acquisitions by Schwab.

In particular, the financial firm recently completed the asset acquisition of Motif, a Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company, which included all of the company’s technology and intellectual property. This includes algorithms, patents and source code.

Motif customised thematic portfolios to investors by Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term technology and data science. Similar to Wasmer Schroeder, Motif’s technology platform also supports real-time fractional share trading and tax optimisation strategies within investment portfolios, among other features.

Schwab is also trying to close a major acquisition of TD Ameritrade in an all-stock transaction valued at approximately $26 billion. In a victory for Schwab, in June the Antitrust Division of the United States Department of Justice (DOJ) closed its investigation on the proposed acquisition of TD Ameritrade Holding Corporation.