Financial Services Industry
Industry: Email Alert RSS FeedAt the Bell; Schwab reduces online trading fee.(Late News)
Investment News, February, 2005
Charles Schwab & Co. Inc. of San Francisco on Friday said it will cut online stock-trading commissions by 35% for investors with household assets of between $50,000 and $1 million. The discount broker will charge $12.95 for trades up to 1,000 shares as of Feb. 8, reduced from $19.95. The new pricing also applies to clients who trade nine to 29 times a quarter.
The news follows Boston-based Fidelity Investments' announcement Tuesday that it is cutting its fees charged to the average investor for online stock trades by about 25%. Schwab said that Schwab Institutional will roll out a comparable pricing model in the second quarter for its adviser clients who enroll in electronic delivery of client reports. Morningstar files IPO amendment ...
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