anyone has accounts with Charles Schwab ? heard they are having a tough time financially with people pulling out money due to rising interest rates ! I have a Trading & IRA a/c with them(<250k) , wondering if that amount can be at risk in any circumstances. #personalfinance #investments #charlesschwab
Dinosaur systems. Old mindset
My TDAmeritrade account is migrating to Schwab this week 🥹
No, there's no risk obviously
Hearing they are not as viable as they seem. Major growth has been from M&As the past few decades. No true disruption or new thought from them.
Better than Wells Fargo
I have my workplace retirement account with them. But most of our money is with Fidelity.
why prefer fidelity over Charles Schwab ?
My wife and her retirement accounts there so it's easy to have everything in one place. So we have two other brokerages: Merrill - to get Bank of America Platinum Preferred Schwab - for my work retirement account Between me and my wife we have 12 accounts with Fidelity. Those accounts used to be with TD Ameritrade so I guess they would have been force migrated to Schwab if we didn't move them earlier. Before that, I used to use Scottrade if anyone here on Blind remembers them. I liked their lower flat trading fees (only some people remember when all trades had fees).
I have accounts in ETrade, Fidelity, Webull, and Schwab. Leaving Webull aside which I barely use because I keep OPM there, out of the other 3 my main brokerage is fidelity, which is ok, but they don’t have a trading API which sucks. I opened Schwab thinking I’d use them more but I keep a small portion of my portfolio there. The options system is meh, and overall I think they tend to be on the old school side. That being said, I don’t have a problem with old school. I despise E*Trade, they basically scammed people just like robinhood with the whole GameStop issue. I am not concerned about them being at risk.
They are doing layoffs next week