NEW YORK (Reuters) - Charles Schwab Corp, the discount brokerage pioneer that is expanding into fee-based advisory accounts, said on Thursday that third-quarter profit jumped 17 percent on higher trading commissions and interest revenue. A Charles Schwab sign is pictured in the Manhattan borough of New York, October 10, 2015. REUTERS/Eduardo Munoz The San Francisco-based company’s net income totaled $376 million, or 28 cents a share, a penny higher than the average analyst estimate in a poll...

NEW YORK (Reuters) - Credit Suisse Group AG has awarded Wells Fargo & Co the exclusive right to recruit the Swiss bank’s brokers who work in the United States, the companies said on Tuesday. Although Credit Suisse’s brokerage business has become profitable in the last two years, it is too small “to sustainably compete without significant investment or acquisition,” the bank told brokers in an internal memo About 275 brokers work in Credit Suisse’s 13 U.S. offices. Wells Fargo operates the...

Naureen Hassan, the executive most symbolic of Charles Schwab & Co.’s highly publicized robo-advisor, has resigned to take a position at Morgan Stanley. Hassan, an alumna of consulting firm McKinsey & Co., joined Schwab’s strategy group in 2003 and is leaving with a bang. Less than a year after the discount brokerage pioneer launched its Intelligent Portfolios automated investment management tool for the general public and for its own registered investment adviser clients, the service has...

Charles Schwab Corp has set an ambitious goal of overseeing $3 trillion of client assets within two years, a company executive said this week. In a call to employees of its Investor Services division, which deals with retail investors through call centers and more than 300 branches, division head Terri Kallsen said they must amp up their services and skills to win the loyalty of wealthy clients and prospects. Schwab ended 2015 with $2.51 trillion of client assets – including $1.36 trillion in...

Despite its large business of servicing independent advisors who adhere to a fiduciary standard of care, Charles Schwab Corp. does not see itself as being much better off than other broker-dealers grappling with the Department of Labor’s impending fiduciary rule. “I have great doubts about major market (share) shifts coming out of this,” Chief Executive Walt Bettinger said In a presentation to analysts on Friday, adding that brokerage firms will tweak fees and products to retain customers...