Deals
Schwab in Talks to Buy USAA Units to Diversify, WSJ Reports
- Deal would be a further move into advice business for Schwab
- Schwab shares are down this year as asset managers gained
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Charles Schwab Corp. appears to be making a play to grab more advisory clients as fees fall for asset management and trading.
The San Francisco-based brokerage firm is in talks to buy USAA’s brokerage and wealth-management operations for roughly $2 billion, the Wall Street Journal reported Monday. The deal may be reached this month, the newspaper said, citing people familiar with the matter.