Adam Nash riffs on what can lead a great company (Charles Schwab) so far astray from its founding values.
Charles Schwab Has Become Merrill Lynch- For a young investor, Schwab’s greed is expensive. Too expensive. And it doesn’t have to be this way. Vanguard doesn’t play the game of marketing kickbacks, hidden fees and misleading pricing. Vanguard has grown to over $3 trillion in client assets without playing these tricks. That’s the kind of company we at Wealthfront aspire to be. Charles Schwab documents over 14 pages of fees on its website. And as a sweet farewell, if you actually decide to move your account to another brokerage firm, it will take another $50 on the way out. Young investors are tired of this “gotcha”-based pricing.