He-l Yes, it matters to Schwab or not, My wife, me and my parents and whoever from my friend I can convince will move everything to Fidelity. I bet all laid off employees will.
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Yep, I sold the bump. I'm sure the stock has more room to run, but I'd rather cash out now. Expecting weak earning in the first half of next year.
just to add to the conversation, SCHW is up 7% today, $70.95 as of now.
09:59 AM EST, 12/14/2023 (MT Newswires) -- Charles Schwab (SCHW) said Thursday its total client assets reached $8.181 trillion in November, up 12% from a year earlier. The financial services provider said core net new assets brought to the company by new and existing clients were $21.7 billion in November. Shares of the company rose 5.6% in recent Thursday trading. Price: 69.99, Change: +3.69, Percent Change: +5.57 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited. Copyright 2023, MT Newswires News Provided by Acquire Media Corporatio
@1vsf+1q3kQmOt I am also moving all assets to Fidelity.
My husband keeps asking when he can move his assets. Between the 2 of us there will be a sizable chunk of money being moved. I've started moving money out of my brokerage when high yielding CD's mature and once the severance is deposited, the 401K's and Rollover IRA's will be moved. Curious - where are people thinking of moving their assets? My husband can't wait to go back to Fidelity.
@1ecf+1q3kQmOt Yep, 100% this! All those factors show they don't know what they're doing and are willing to risk employees/clients for the sake of making more money and keeping the lights on.
As soon as I get another job I will be moving my assets out of Schwab. Lastly, I feel it's just a matter of time before they get slapped for compliance or something breaks now that a lot of Domain/Tribal knowledge has left the company.
Of course I’m moving my assets, I saw all of the inner workings of Operations, there’s no way I would keep my money with Schwab.
I have already started moving my accounts to another company.
Investors and laid off employees vote with their wallets. Why trust a company that has botched WFH, RTO as well as buying 20 year treasuries during interest rate hikes only to sell them at a loss for liquidity resulting in laying off 5% of the staff. I can see impacted employees moving their assets out of Schwab.
Some likely are.
If protest it is a rounding error and certainly not a significant message. But it may make them feel better.
I would if only to reduce risk. Having everything with one institution under the guise of compliance is uncomfortable. If something happened to our systems I might not be able to access funds for days. Worst case years. Moving some money out would just make sense.