The Traderszone Network

Published in TZ Latest News 3 October, 2014 by The TZ Newswire Staff

Exclusive: Schwab ready to unveil free ‘robo-broker’ service

Charles Schwab Corp. (SCHW.N) is weeks away from introducing an automated investing service aimed at winning business from novice investors it does not currently serve, company officials told Reuters. It would position Schwab as the first conventional brokerage with its own robo-broker offering. Executives at some large broker-dealers, which typically charge 1 to 3 percent of client assets in managed account programs, have said they do not feel threatened by robo-brokers because they make money offering more sophisticated wealth-planning and investment services to wealthy clients.

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