Recently a family member sent me a video from a YouTuber (yes, I know..) about Schwab potentially moving out of banking. Here is the link if you're interested: https://www.youtube.com/watch?v=-OwBA79uIt0. I've read some actual financial articles online about the changes to their banking system in order to shore up profits but its unclear how/if this will impact customers. Seems like its not unreasonable to think that Schwab may eliminate staff/branches/banking altogether which is a concern as someone recently retired with most of my assets with Schwab.
I've been considering consolidating at FIdelity just for the one stop shop aspect anyways but this news might be the push to actually do it. I looked through the forums and didnt see this discussed but was curious if any other Schwab customers are worried/care? I dont use my checking account with them a ton but have recently needed it as proof for a new lease so having the account has been useful.
Thoughts?
I've been considering consolidating at FIdelity just for the one stop shop aspect anyways but this news might be the push to actually do it. I looked through the forums and didnt see this discussed but was curious if any other Schwab customers are worried/care? I dont use my checking account with them a ton but have recently needed it as proof for a new lease so having the account has been useful.
Thoughts?
Statistics: Posted by jjunk — Sat Oct 05, 2024 6:20 pm — Replies 3 — Views 366