Charles Schwab Faces Attrition Challenges Amid TD Ameritrade Integration

Charles Schwab Corp is experiencing a temporary decrease in net flows of client money as it integrates TD Ameritrade into its business, resulting in attrition of some retail and advisory clients' assets. The company has also scaled back certain custodial relationships that Ameritrade had offered to institutional clients. Schwab expects the client attrition to subside in the first half of next year and anticipates client deposits to start growing again later this year.