Schwab's 'No Trade-Off' Proposition for Clients Hasn't Traded Off Profitability for the Firm
Wide-moat Charles Schwab's record 45.5% pretax operating margin in the second quarter demonstrates the profitability of net interest income and that the company can maintain high profitability while effectively competing with peers. The company reported net income of $813 million, or $0.60 per diluted share, on $2.5 billion of net revenue. Net revenue grew 16.7%, driven by net interest income that contributed $354 million of the $356 million increase. We don't anticipate making a material change...Charles Schwab is a savings and loan holding company. The company is engaged, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company provides financial services to individuals and institutional clients in two segments: Investor Services, which provides retail brokerage and banking services to individual investors and retirement plan services, as well as other corporate brokerage services, to businesses and their employees; and Advisor Services, which provides custodial, trading, banking and support services, as well as retirement business services to independent registered investment advisors and recordkeepers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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