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

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

Rating:What to Do with U.S. Trust? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 04, 2005

What to Do with U.S. Trust?

Reported by Theresa Sim

It looks like Schwab is putting its money where its mouth is. Last year, executives steadfastly denied that the company's U.S. Trust business was for sale, after a leaked management memo (declaring "nothing was sacred" at the company) sparked rumors that it was looking to shed the business. Schwab announced Tuesday that it has released another type of managed account tied to U.S. Trust's portfolio managers.

Schwab Institutional is offering advisors access to U.S. Trust-managed portfolios via its new Managed Account Affiliates program, the company announced on Tuesday.

Advisors must sign accounts with at least $100,000; Schwab is charging 100bps for the product, said spokeswoman Lindsay Tiles.

Schwab said that advisors had "enthusiastic responses" to a December webcast featuring two U.S. Trust portfolio managers, and that it was planning more educational sessions for advisors.

Schwab purchased U.S. Trust in May of 2000 for $3 billion. 

Correction: A previous version of the article referred to the Charles Schwab unit as "Charles Schwab Institutional Trust" instead of "Schwab Institutional."

The statement that Schwab purchased New England-based U.S. Trust from State Street in 2003 for approximately $365 million was incorrect. Schwab purchased U.S. Trust in May of 2000 for $3 billion.


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
2019: Q4Q3Q2Q1
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. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use