TD Ameritrade Clients Continue to Flee Charles Schwab
Charles Schwab Corporation is experiencing a continued loss of retail customers following its merger with TD Ameritrade, with the company's stock falling almost 4% as a result. While specific details on the extent of client loss were not provided, the company's Chief Financial Officer expects the attrition to be in line with initial estimates. Despite the customer outflows, Charles Schwab has seen growth in total assets, but its stock is down nearly 25% this year due to a high interest rate environment and increased balance sheet scrutiny.