Annuities and the Charles Schwab Deal
December 3, 2019 by Kerry Pechter
Caught between tectonic forces—Wall Street’s demand for higher profitability and Main Street’s demand for lower fees—what’s a publicly held brokerage giant to do? For Charles Schwab, the answer was to scale up by acquiring rival TD Ameritrade this week in all-stock deal worth $26 billion.
But what, if anything, will the ensuing consolidation of discount brokerage platforms mean for companies that issue or distribute annuities–especially those who want to sell more annuities to Registered Investment Advisors (RIAs)?
Click HERE to read the full story via RIJ.