Schwab Cutting Commissions, Unveils New ETFs

Charles Schwab Corp. (SCHW) is reducing its trading commissions and unveiled new portfolios of exchange-trade funds available through a fee-based advisory program.

The move comes as investors have been fleeing stock-based funds for bond funds and other investments, and as trading volume overall has been declining in recent months. As such, Schwab last month projected fourth-quarter earnings below Wall Street expectations as the company said an acceleration in money-fund fee waivers and a slowdown in trading volume will weigh on results.

The company estimates that the pricing changes could reduce first-quarter revenue by $15 million to $20 million, or up to 2% of typical quarterly revenue.

Read Full Article from Wall Street Journal

- Posted: 2010-01-07 11:17:25

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