This month, Charles Schwab & Co., the brokerage firm where our financial advisory clients custody and safeguard their valuable financial assets, announced it was once again dramatically reducing transaction fees. Schwab reduced the standard online commission pricing for equities and exchange-traded funds (ETFs) to $4.95 per trade from $8.95 (nearly 45% less) and to $12.95 (a 35% reduction) for those receiving paper confirmations. In addition, through the Schwab ETF OneSource platform you continue to have access to over 200 commission-free ETFs from 16 leading providers – further helping to reduce your transaction costs.
The recent fee reductions are great news for you! Every dollar you save is a dollar you get to keep and realize compounded returns on. As your fee-only financial advisor, we strive to keep your transaction costs low and do not receive any compensation from commissions. Our interests are aligned with yours, this means we look out for your best interests, at all times, above all else.
Our financial advisory firm’s relationship with Charles Schwab goes back many years to 1987. Schwab is the primary custodian for our investment assets as result of their financial strength, providing high quality service to investors and their pioneering discounted transaction costs. With more than 300 office locations across the U.S., including one near our own office in Walnut Creek, Schwab makes it very convenient to serve your needs.
The recent fee reductions reaffirms our confidence in Charles Schwab. In additional to competitive pricing, they continue to be at the forefront of technology solutions and client service. As a fee-only financial advisor, we are completely independent of Charles Schwab, but proud to partner with them for the high quality service they offer at a significantly lower cost than major wall street brokerage firms.
Disclaimer: Pring Turner is a Financial Advisor headquartered in Walnut Creek, Ca and is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. The views represented herein are Pring Turner’s own and all information is obtained from sources believed to be accurate and reliable. This information should not be considered a solicitation or offer to provide any service in any jurisdiction where it would be unlawful to do so. Past performance does not guarantee future results.