All articles tagged with #retail clients
Jamie Dimon, CEO of JPMorgan Chase, warned of potential problems in the private credit market, especially as retail clients gain access to these less liquid assets. He emphasized the risks involved and noted that the private-credit industry has not yet been tested by bad markets. Dimon's comments come amid signs of trouble, including Moody's recent downgrade of direct lending funds tied to major fund managers.
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.