A general view of Pfizer Manufacturing Belgium in Puurs, Belgium, Monday, Nov. 9, 2020. Pfizer said Monday that early results from its coronavirus vaccine suggest the shots may be a surprisingly robust 90% effective at preventing COVID-19. (AP Photo/Virginia Mayo)
A general view of Pfizer Manufacturing Belgium in Puurs, Belgium, Monday, Nov. 9, 2020. Pfizer said Monday that early results from its coronavirus vaccine suggest the shots may be a surprisingly robust 90% effective at preventing COVID-19. (AP Photo/Virginia Mayo)Charles Schwab, TD Ameritrade and Merrill Lynch brokerage clients reported service outages on Monday as news of coronavirus vaccine developments sent stocks soaring to all-time highs.

Charles Schwab offices in Midtown Manhattan. (Photo by Brendan Church on Unsplash)
Charles Schwab offices in Midtown Manhattan. (Photo by Brendan Church on Unsplash)After completing its nearly year-long acquisition of TD Ameritrade Holding three weeks ago, Charles Schwab said Monday that it will shed about 1,000 jobs, or 3% of the companies’ combined workforce.

In this file photo, a man walks past a Fidelity Investments office in the Financial District of downtown Boston. (AP Photo/Charles Krupa)
In this file photo, a man walks past a Fidelity Investments office in the Financial District of downtown Boston. (AP Photo/Charles Krupa)U.S. asset manager Fidelity made its second large U.K. acquisition this month by acquiring the personal investment business of Legal & General, the London-based insurance and financial firm said on Friday.

Charles Schwab reported Thursday that client trading and asset growth were strong during the third quarter, even as the investment firm’s profit fell by more than 25% year over year as lower interest rates and axed commissions hurt its revenue.

Eight senior-level TD Ameritrade employees including an interim president and CEO left the company following its recent merger with Charles Schwab, as the combined firm reconfigures its leadership.

U.S. fund managers have slogged through a third quarter of sluggish revenue growth amid market dynamics some analysts say could squeeze fee income and profitability until the middle of next year.

Charles Schwab completed the nearly year-long acquisition process of TD Ameritrade on Tuesday, creating a colossal financial services company that rivals its closest competitor, Fidelity Investments, with approximately $6 trillion in client assets and 28 million brokerage accounts.

Mysterious technical issues flared up for several banks and fund managers Monday, with Robinhood and TD Ameritrade Holding users seeing wildly inaccurate balances and Vanguard Asset Management, Charles Schwab and E*TRADE Financial having other problems.

Toronto Dominion stowed away an additional CAD 2.2 billion ($1.7 billion) for bad loans in the most recent quarter, reflecting a pessimistic outlook for the future even as the Canadian bank exceeded earnings expectations.

ConsenSys, a New York-based software developer, has made a deal to buy a blockchain platform from JPMorgan Chase and deepen ties with the bank, following speculation that the companies would merge products.

Charles Schwab said Thursday that it has become the first large retail broker to offer free financial planning to all its U.S. clients with the launch of a self-guided digital product for personalized retirement planning.

U.S. retirement fund investors took a slightly more optimistic view in the second quarter of 2020, shifting more of their money into surging tech stocks and other equities, according to Charles Schwab.

Some desktop users of TD Ameritrade’s thinkorswim trading platform were unable to log in for the second straight day as the S&P 500 closed at its highest level ever on Tuesday.

Robinhood said on Monday that it reeled in $200 million in new funding, its third major investment this year, lifting the online trading platform’s valuation to $11.2 billion.

Alchemy, a blockchain platform backed by Charles Schwab, debuted for public use after two years of being available only through private applications and will offer its software to developers looking to build apps with Ethereum.

Three out of four Australian wealth managers have either reduced fees or plan to do so in order to remain competitive with a growing proliferation of lower-cost robo-advisors, showing a particularly strong shift, Global Data said.

The U.S. Virgin Islands is asking six U.S. financial institutions about any accounts they handled for Jeffrey Epstein or related entities as the territory continues to seek more information about the late sex offender’s finances as part of a civil lawsuit.

The rebound of the stock market in the last quarter pushed TD Ameritrade Holding to record levels, with record daily average revenue trades and the top 15 volume days in firm history, the Nebraska-based investment firm said Tuesday.

Charles Schwab reported on Thursday that average daily trading volume more than doubled during the second quarter as equity markets began to rebound from pandemic-induced lows, though the broker’s earnings and revenue came in below estimates.

Charles Schwab Corp. said Wednesday it has completed its acquisition of investment management company Wasmer, Schroeder & Co., growing the California-based company’s $90 billion fixed income separately managed account business.