FYI: Charles Schwab, founder of the giant discount brokerage, said he has always hated charging commissions and he’s glad to be “out of the business.”
“I hated commissions,” Schwab, 82, said Tuesday at the Impact 2019 conference in San Diego. “I hated them then. I hate ’em now. I took ’em away.”
Charles Schwab Corp. roiled the brokerage industry when it eliminated fees for U.S. stocks, exchange traded funds and options. The move escalated a long-simmering price war spurred by investors who have moved to the cheapest investment products.
Regards,
Ted
https://www.fa-mag.com/news/-i-hated-commissions---says-charles-schwab-after-ending-them-52587.html?print
