Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Schwab's ETF Strategy: Everyone (on its Client Roster) Trades Free Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 02, 2009

Schwab's ETF Strategy: Everyone (on its Client Roster) Trades Free

Reported by Armie Margaret Lee

On Monday, Schwab executives led by president and CEO Walt Bettinger -- who spoke via satellite -- discussed Schwab's ETF strategy with more than 50 journalists in New York City. Company officials revealed that Schwab's ETFs can be bought and sold through Schwab.com commission-free.

San Francisco-based Schwab is launching four ETFs tomorrow (executives are scheduled to ring the opening bell on the New York Stock Exchange) and another four next month. Expense ratios range from 8 bps to 35 bps.

To promote the new products, Schwab will kick off a "broad-based, multi-channel marketing campaign" tomorrow, said Peter Crawford, senior vice president of investment management solutions.

Euro RSCG created the ads for Schwab. Ads will appear on CNBC, CNN, MSNBC and the Sunday morning CBS show Face the Nation, as well as in print publications such as The New York Times, The Wall Street Journal and Barron's. On the Web, ads will run on Yahoo, Google, MSN and Kiplinger.com.

"When you're a Schwab client, ETF stands for Everyone Trades Free," read one of the ads.

Crawford declined to say how much Schwab is spending on the campaign.

Around 53 reporters attended the press briefing at the Hilton Hotel in midtown Manhattan. Public relations firm SunStar helped put together the event, which was also attended by advisors and representatives from index providers Dow Jones and FTSE.

The four ETFs launching tomorrow are the Schwab U.S. Broad Stock Market Index ETF, Schwab U.S. Large Cap ETF, Schwab U.S. Small Cap ETF and Schwab International Equity ETF.

The other four set to launch next month are the Schwab U.S. Large Cap Growth ETF, Schwab U.S. Large Cap Value ETF, Schwab International Small-Cap Equity ETF and Schwab Emerging Market Equity ETF.

Commission-free online trading of the ETFs will be available to individual investors at Schwab, to the more than 6,000 independent advisor firms using Schwab's custodial services through Schwab Advisor services and through Schwab retirement accounts that allow ETF trading.

Schwab hired Eric Pollackov from NYSE Euronext to serve as capital markets liaison. Pollackov started at Schwab last week.

Another recent addition to Schwab, as reported by The MFWire in September, is Dustin Lewellyn, who was previously ETF head at Northern Trust. At Schwab, Lewellyn serves as managing director of ETF portfolio management.

In his comments made via satellite, Bettinger noted that Schwab is already a major player in the ETF space. "Twenty to 30 percent of retail ETF volume trades at Schwab," he said.

Bettinger, who succeeded Chuck Schwab as CEO a year ago, added that Monday's announcement is similar to the launch of the OneSource mutual fund platform in 1992.

The ETF launch is "a major priority for Walt and for Chuck," Crawford told reporters. "The entire company is behind this."

Other executives in attendance include Jeff Mortimer, Schwab Investment Management chief investment officer; Schwab Advisor Services senior vice president Bernie Clark and Jon de St Paer, vice president of investment management services. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use