Schwab (CHARLES) Corp. (The) Stock Price, News & Analysis

Schwab Advisor Services recently hosted a two-day virtual Technology Forum for over 150 independent advisor technology professionals, focusing on the integration of Schwab and TD Ameritrade's custody platforms ahead of a planned conversion in 2023. Key updates included advancements in third-party technology integrations, with Schwab currently partnering with over 180 technology products. The forum highlighted the importance of these integrations for financial planning and compliance as API usage by advisors grew over 30% since 2020. Schwab emphasizes its commitment to supporting technology partners during the transition.

The Charles Schwab Corporation's Board of Directors has declared a quarterly cash dividend of $0.18 per common share, payable on November 26, 2021.

Stockholders of record as of November 12, 2021 will receive this dividend. Additionally, dividends were declared for several series of preferred stock, with payment scheduled for December 1, 2021. The company manages approximately $7.61 trillion in client assets and maintains a strong financial position with 32.7 million active brokerage accounts.

Schwab Advisor Services has launched a redesigned user interface and functional enhancements for iRebal®, enhancing the portfolio management experience for independent advisors.

The new features include a dashboard view for quicker access to portfolio information, a grid interface for better data flexibility, improved navigation for editing and reporting, and a Model Market Center widget for alerts on portfolio changes. These updates aim to increase operational efficiency at no additional charge to users, with access currently available to TD Ameritrade Institutional advisors and planned for Schwab Advisor Services clients in early 2023.

The Charles Schwab Corporation reported record net income of $1.5 billion for Q3 2021, a 119% increase from $698 million in Q3 2020. Total client assets reached $7.61 trillion, up 14% year-to-date. Core net new assets rose 28% sequentially to $139 billion. The firm opened over a million new brokerage accounts, bringing the total to 6 million in 2021. Adjusted diluted earnings per share rose 65% to $0.84. Despite an 8% decline in overall trading activity, daily average trades remained strong at 5.5 million.

The Board of Directors of The Charles Schwab Corporation has appointed Rick Wurster as President, effective October 15, 2021. Wurster, previously Managing Director and head of Schwab Asset Management, has been with the company since 2016. He will oversee multiple divisions, including Investor Services and Schwab Asset Management. CEO Walt Bettinger praised Wurster's client-focused approach. As of August 31, 2021, Schwab reported 32.5 million active brokerage accounts and $7.8 trillion in client assets.

Schwab Advisor Services is hosting the IMPACT conference on October 19-20, offering two days of keynotes and educational sessions at no cost to its 13,000 independent advisory firms. The event features notable speakers including Malcolm Gladwell and Ben Bernanke, focusing on topics like market trends and firm culture. The innovative virtual networking platform allows personalized interactions among attendees. Additionally, IMPACT 2021 welcomes over 130 students from diverse universities, emphasizing Schwab's commitment to nurturing the next generation of advisors.

Schwab Asset Management's BeFi Barometer 2021 reveals increased behavioral biases among investors, primarily driven by COVID-19 and social media influence. Significant behavioral biases include recency bias (58%), confirmation bias (50%), and framing (44%). 60% of clients invested in cryptocurrency; 33% in SPACs. Advisors indicate behavioral finance techniques improve client relationships and retention, particularly during market volatility. Key strategies include taking a long-term view (76%) and integrating goals-based planning (75%). These insights are crucial for advisors aiming to secure client trust and enhance investment performance.