Schwab moves from transaction to fee-based programs

07/28/2013 | InvestmentNews (free registration)

Charles Schwab CEO Walt Bettinger reaffirmed the company's plan to focus on fee-based accounts in a meeting with analysts, saying the goal is to move away from transaction accounts and make fee-based managed assets and interest revenue "the vast majority of revenue" for the company. Fee-based accounts are 17% of the firm's assets, and valued at $138 billion, Schwab officials say.

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