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Charles Schwab is continuing to feel the pain of the TD Ameritrade integration, reporting substantial declines in net new assets. The company reported it brought in net new assets of $11.3 billion in October, down from $27.1 billion in September and well off last October’s $42 billion. Schwab attributed the declines to attrition from losing TD Ameritrade clients as well as delayed tax disbursements in states such as California.
In other most-read wealth management articles this week:
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