Schwab has big plans to expand in trust services
Back in 2000 when Charles Schwab bought U.S. Trust, the deal seemed to gush potential. Schwab fully expected the company to give it a solid start in an important market. It really hasn't panned out that way. Now, Schwab seems to be bent on taking market share via other means. With Fidelity and others making strides, Schwab is trying to put together a better trust platform that its advisors can really market. Smaller firms, as always, are certainly keeping their eyes on Schwab.
For more on Schwab's plans:
- Here's an Investment News article
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