Are Schwab's Troubles Over Yet | 3rd Quarter 2023 Earnings Update (Schwab / TD Ameritrade Customers)
Вставка
- Опубліковано 20 жов 2023
- Schwab reported earnings for the third quarter of 2023 this week. Are Schwab’s troubles over yet & is there a silver lining? Plus, what are two very important things you should do if you’re with Schwab right now? Watch on & find out!
Join our growing number of super-supersaving members: / @diamondnestegg 👉 or learn more about membership benefits in this video: • Bond Investing Videos ...
#jenniferlammer #bonds #fixedincome
-------
WATCH NEXT (member videos)
⭐ Member Live: What To Do When Bond Markets Are Volatile: ua-cam.com/users/livexp89Y1kcXsM?...
⭐ Member Live: Buy Treasuries Now Or Wait: ua-cam.com/users/livetEg5TUFvoms?...
⭐ Bond Diversification Strategies: • Bond Diversification S...
REFERENCED IN VIDEO
⭐ Schwab Sept Update: • Is Schwab In Trouble? ...
⭐ SIPC: • Is Your Money Safe If ...
⭐ SCHD: • Is SCHD In Trouble If ...
⭐ FDIC: • FDIC Insurance Explain...
_________
SOURCES
pressroom.aboutschwab.com/pre...
content.schwab.com/web/retail...
_________
DISCLAIMER
EVERYONE'S FINANCIAL JOURNEY IS DIFFERENT. YOUR PERSONAL FINANCIAL SITUATION IS UNIQUE. NEITHER DIAMOND NESTEGG, LLC, OUR WEBSITE, OUR UA-cam CHANNEL, OUR OTHER SOCIAL MEDIA CHANNELS, NOR THIS CONTENT & INFORMATION (THE “SERVICE”) ARE INTENDED TO PROVIDE FINANCIAL, LEGAL, TAX OR OTHER ADVICE. NO FINANCIAL DECISIONS SHOULD BE MADE SOLELY BASED ON THE SERVICE. THE SERVICE IS PROVIDED FOR INFORMATIONAL & ENTERTAINMENT PURPOSES ONLY & IS NOT INTENDED TO BE A SUBSTITUTE FOR ADVICE FROM A PROFESSIONAL FINANCIAL ADVISER OR QUALIFIED EXPERT.
ALL OPINIONS & FORWARD-LOOKING STATEMENTS OF THE SERVICE EXPRESSED HEREIN ARE AS OF THE DATE OF PUBLICATION & SUBJECT TO CHANGE. IT IS YOUR RESPONSIBILITY TO VERIFY ALL INFORMATION YOURSELF.
ANY INFORMATION PRESENTED BY THE SERVICE IS NOT AN OFFER TO BUY OR SELL, NOR A SOLICITATION TO BUY OR SELL ANY SECURITIES OR PRODUCTS MENTIONED. DIFFERENT INVESTMENTS HAVE VARYING DEGREES OF RISK & THERE IS NO ASSURANCE THAT THEY WILL BE SUITABLE FOR YOUR PORTFOLIO. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ALWAYS CONSULT A QUALIFIED FINANCIAL, LEGAL, OR TAX PROFESSIONAL REGARDING YOUR SPECIFIC SITUATION.
DIAMOND NESTEGG, LLC IS A REGISTERED INVESTMENT ADVISER IN THE STATE OF NEW YORK AND OTHER STATES WHERE IT IS EXCLUDED OR EXEMPTED FROM REGISTRATION REQUIREMENTS. REGISTRATION AS AN INVESTMENT ADVISER DOES NOT CONSTITUTE AN ENDORSEMENT FROM SECURITIES REGULATORS.
DIAMOND NESTEGG, LLC RECEIVES COMPENSATION FROM UA-cam FOR THE PRESENCE OF ADVERTISING BEFORE, AFTER, AND DURING THIS VIDEO CONTENT AS WELL AS VIA UA-cam’S SUPER THANKS FEATURE. DIAMOND NESTEGG, LLC DOES NOT CONTROL THE CONTENT OR PRESENCE OF ANY ADVERTISEMENTS. THE PRESENCE OF ANY ADVERTISEMENT DOES NOT CONSTITUTE AN ENDORSEMENT OF THE AD, COMPANY, ENTITY, OR PRODUCT BY DIAMOND NESTEGG, LLC.
----------
CONTENT DISCLAIMER
THE VIEWS & OPINIONS EXPRESSED THROUGH THE SERVICE ARE SOLELY THOSE OF DIAMOND NESTEGG, UNLESS OTHERWISE SPECIFICALLY CITED. MATERIAL PRESENTED IS BELIEVED TO BE FROM RELIABLE SOURCES & NO REPRESENTATIONS ARE MADE BY DIAMOND NESTEGG AS TO OTHER PARTIES' INFORMATIONAL ACCURACY OR COMPLETENESS. ALL INFORMATION OR IDEAS PROVIDED SHOULD BE DISCUSSED IN DETAIL WITH A QUALIFIED ADVISER, TAX OR LEGAL PROFESSIONAL PRIOR TO IMPLEMENTATION.
OUR UA-cam CHANNEL MAY PROVIDE LINKS TO THIRD-PARTY WEBSITES FOR YOUR CONVENIENCE. WE HAVE NO CONTROL OVER THE ACCURACY OR CONTENT OF THESE LINKS.
THE COMMENTS ON THIS CHANNEL, AND OUR OTHER SOCIAL MEDIA CHANNELS, ARE THOSE OF THE CREATORS & DO NOT NECESSARILY REFLECT THE VIEWS & OPINIONS HELD BY DIAMOND NESTEGG, LLC.
COMMENTS, CHATS & CONVERSATIONS ARE A SPACE FOR CIVIL & RESPECTFUL DISCOURSE & CONSTRUCTIVE EXCHANGES OF INFORMATION, VIEWPOINTS & OPINIONS. WE WELCOME FREE EXPRESSION, REGARDLESS OF VIEWPOINT, BUT RESERVE THE RIGHT TO REMOVE ANY RESPONSE AND SUSPEND OR BAN INDIVIDUALS FOR ANY REASON. PLEASE NOTE THAT COMMENTS, CHATS & CONVERSATIONS MAY BE SUBJECT TO PREAPPROVAL.
DUE TO THE SOCIAL NATURE OF THE SERVICE, THESE VIDEOS MAY CONTAIN CONTENT COPYRIGHTED BY ANOTHER PERSON OR ENTITY. DIAMOND NESTEGG, LLC CLAIMS NO COPYRIGHT TO SAID CONTENT & CANNOT BE HELD ACCOUNTABLE FOR THE COPYRIGHTED CONTENT. DIAMOND NESTEGG SHARES & STRIVES TO VERIFY INFORMATION BUT CANNOT WARRANT THE ACCURACY OF COPYRIGHTS OR COMPLETENESS OF THE INFORMATION ON OUR SERVICE. ANY COPYRIGHTED MATERIAL SHARED ON THIS SERVICE IS INTENDED TO BE SHARED BY FAIR USE. IF YOU HAVE A COMPLAINT ABOUT THE USE OF COPYRIGHTED MATERIAL, PLEASE CONTACT DIAMOND NESTEGG PRIOR TO MAKING A COPYRIGHT CLAIM. ANY INFRINGEMENT IS UNINTENTIONAL & WILL BE RECTIFIED TO ALL PARTIES' SATISFACTION.
PLEASE REFER TO OUR TERMS OF SERVICE & PRIVACY POLICY LINKS FROM OUR WEBSITE FOR MORE INFORMATION.
Join our growing number of super-supersaving members: ua-cam.com/channels/nexoc6tvesvcCEzZhmI-Ag.htmljoin 👉 or learn more about membership benefits in this video: ua-cam.com/video/VOwgOAGukCA/v-deo.htmlsi=7Vw0dtBxcqIvQzq3
WATCH RECENT MEMBER VIDEOS:
⭐ What To Do When Bond Markets Are Volatile: ua-cam.com/users/livexp89Y1kcXsM?feature=share
⭐ Buy Treasuries Now Or Wait: ua-cam.com/users/livetEg5TUFvoms?feature=share
⭐ Jen's Muni Investing Strategy | Five Common Muni Pitfalls: ua-cam.com/video/cKDIdWD6IFY/v-deo.html
⭐ September Live Member Q&A: ua-cam.com/video/P1NUBwiYpQk/v-deo.html
⭐ Bond Diversification Strategies: ua-cam.com/video/aOpvUf5OYHo/v-deo.html
Thanks for visiting our personal finance channel! We hope this content will help fast-track your financial journey! Everyone's financial journey is different. Please note that: 1) there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances & 2) we will not ask you to call us or send us money in the comments on this channel or any of our other social media accounts, so if you see comment(s) along those lines, it is most likely spam - PLEASE DO NOT ENGAGE WITH SPAMMERS OR GIVE OUT YOUR PERSONAL INFORMATION FOR YOUR OWN SAFETY.
Yes, as a long time Schwab customer and retiree I would be interested in another Schwab update down the road. Thanks and appreciation for this one.
Please keep the Schwab updates coming. Thank you for a great job.
Schwab’s 24/7 customer service is an absolute winner for me. Very impressed.
Thank you, please keep providing updates on Charles Schwab. I've been with Schwab since 2020. I have my ROTH IRA and taxable brokerage account with them and the cash not invested is part of their bank sweep program.
Noted!
New customer here from early this year. Schwab is very best service anywhere. Absolutely love it.
Thank you for Schwab update!!! Please continue to give them❤
Cogent and succinct. I've been with Schwab since 1986. This video helped. Thanks.
I am a Schwab customer and am happy with them. Please analyze their balance sheet in a future video. They took on a lot of debt presumably with the TD Ameritrade acquisition. How will this affect them?
I’ve been with Schwab for over 35 years and m very satisfied with their service…I was under the impression that if your holdings are in treasury bonds then the 500k limit you mentioned is irrelevant…If anybody knows different I would appreciate a heads up
Schwab website reports ''..., in addition to SIPC, Schwab clients receive an extra level of coverage through "excess SIPC" insurance protection for securities and cash. This helps ensure claims will be covered in the event of a brokerage firm failure and funds covered by SIPC protections are exhausted. Schwab's Excess SIPC program has a $600 million aggregate (meaning the most the program will pay for the Excess SIPC portion of the losses). Commodity interests, futures contracts and cash in futures accounts are not protected by SIPC.'
This SIPC video may help clarify: ua-cam.com/video/kY5BswpUlf4/v-deo.html
To emphasize: Schwab is making a profit. The sky is not falling. Their bank (repeat: their bank) is under the same pressures experienced by the entire banking industry, and business in general, ie net interest margin and inflation/wages. It is a well-run company. (Admission: I do not own the stock.)
Plus we know of their issues due to them being a public company, other brokerages can be in the same or worse condition, but because they are private, we don't have any idea.
Are you serious? A well run company?? They typically give their customers the run around - especially when questioning a suspicious trade. Wait time is good because they usually go to a novice employee who knows nothing.
@@SpaceClick
I didn’t like being moved from TD to Schwab. I miss the TD app
I was a TD Ameritrade back when it was just Ameritrade. They had the BEST website/app. In protest, I moved all of my holdings out of Schwab. I wish they would have kept the TD Ameritrade clients on the TD Ameritrade platform. You don't buy out KFC, change the recipe, and then expect the long-time customers to return.
Same for me.
@@JoseFernandez-sl2ekfunny I didn’t like moving from Scottrade to TD and after getting to like TD we had to move to CS but I had a small account with CS so it was not too much of a change for me. They did bring over the think or swim platform from TD
Hi JL, long-time TD Ameritrade client here. Our TD Ameritrade accounts got transitioned to Schwab during Labor Day weekend 2023. it's because of you and your videos that I quickly put excess cash into Schwab's money market funds asap after the transition. Thank you!
Thanks for timely update. Exactly what I need now.
I currently have a joint brokerage account with my wife at Schwab. The balance is about $550,000 with almost 100% in SNSXX based on information from a previous video. Should I worry about being over the $500,000 SIPC limit?
I have been with Schwab for four years. They are excellent. They provide superior customer service. Always a lovely and insightful experience to speak with Schwab’s representatives.
Great video. Thorough & concise!
Please continue updating us on Schwab's financial status. Your efforts are much appreciated.
please have the updates coming. very well explained- clear, on point, love it!
Thanks for the update
Appreciate you clear and insightful 🏆❤️🏆
I am a very happy long-term customer of Schwabs. Please keep us up to date on Schwab. I bet a lot of your followers are Schwab customers, so very important. thanks.
Great information. Thanks ❤
As always your content is enlightening. As a long term Schwab customer I am jittery about their position. Please keep the Schwab updates coming. Thank you for what you do.
Please keep us all updated. THANK YOU!😢
I like Schwab. I like their customer service. The representatives are prompt, courteous and helpful. I have my money in Bank CDs (new issues) bought through Schwab, all compliant with FDIC criteria. I hope Schwab does well through these difficult times.
Hi. Do you mean CDs issued by Schwab or other banks? I have my account on td but was told I am not going to be able to buy cds on my Schwab account
Needed review. Thank you Jennifer!
Please continue your excellent reporting, especially on Schwabs.
Thanks!
Schwab has excellent customer service! I love their bank. I wish they could bring back their high yield interest checking account, but hopefully it will turn around in 2025.
Thank you again for your insightful
talk. Please do keep us up to date on Schwab’s finances. Thanks.
Thank you!
Can’t find more recent report from you?
30 years ago, when I was young and getting started Schwab closed my account due to "Low net worth of investable assets". I felt like I was doing ok growing my assets as I learned and worked.....
Schwab didn't care.
Now that I'm a multimillionaire, some of my assets were moved to Schwab via mergers Schwab completed over the last few years... I just returned the favor and closed my Schwab account....
Thanks for the overview of Schwab! Well done! 💎 I am with Fidelity and have always been curious to know what goes on under the hood so to speak. Unfortunately, we may never know because, as you said, Fidelity is a privately held organization with no plans to go public. I suppose our motto is “In Abigail Johnson We Trust” 😏
Another longtime Schwab customer that would appreciate more videos!
Thank you for your informative video and yes I would like to see more videos on the happenings with Schwab itself. I am with TDAmeritrade now and set to convert over in Jan.24 according to Schwab.
thanks for the update, can you give me some suggestiog do i need to sell SCHP its been drop alot thanks much!
I had been with TD America a few months when my account was switched during the Schwab acquisition. I am definitely interested in continued updates about the health of Schwab.
How much do they owe to the fed's BTFP program ???
This was detailed & informative. I would be interested to know how you think the CRE crisis & derivatives will effect any brokerage house moving forward. Thank you for this. Sorry if name icon comes up 2x. I think we're the only people in America w/this glitch.
Thank you for the insightful video. I hope you will provide more updates on Schwab during these very difficult times for the US economy, currency & debt.
Please continue with Schwab updates. Thanks! I love your channel.
Does 500K limit also include IRAs and Roth?
I an a TD Ameritrade transfer. I have much much more that 500K with their brokerage. But 90% is in treasuries. Are my treasuries at Rick if Schwab goes under?
Just another vote to continue the Schwab updates.
Schwab is fine. A lot of people have underestimated Schwab over the years, and in the end, Schwab always comes out on top.
Please continue updating any news on Schwab. I used to be TD Ameritrade customer. Thank you
Keep the updates on Schwab coming....
Your videos are loaded with terrific info. New to Schwab from TD. Very impressed with customer service. 24/7 CS is Impressive. Overall happy with Schwab. Just opened a checking account as well.
Am a schwab customer am I risk at loosing my money if I have auto roll on 4week treasury with schwab my interest and principal because that's all I do cd or treasury
I tune in just for yes Schwab news, U got me as a sub
9:05PDT, Assuming a Schwab bankruptcy, could Schwab (or any similar entity, like Fidelity) use investors' matured T-Bill $, sitting in cash sweep, to pay Schwab debts?
Yes, please do Schwab updates👍
I definitely would like you to continue Schwab coverage. I have a large Schwab account and soon my large TDAmeritade account will be swept into Schwab. I expected the sweep to happen sooner but since I do a lot of options trading and Thinkorswin wasn't on Schwab's platform until this week, that may be the reason for the delay. I will definitely need to watch my cash placement since much of my options dollars for backing trades is in cash.
I have my Treasury notes through Schwab. Can I move them?
I am new to Schwab with sizeable amounts moved into Treasury bills and Notes (over the SPICI insured amts). If Schwab fails or Bankrupts wouldnt the risk be low and back by the strength of the US Gov? We have nothing in Equities- could you explain the risk on Tbills related to this? And, if better to structure with Brokage Cds (various banks for FDIC coverage)? income products.
Noted Timothy
Great Content! Based on the general situation, is it safe to buy Treasury bills with Schwab right now instead of having Cash parked in a checking account? thank you!!!
Schwab's auto roll over is still broken. I just found out this week that my maturing TBill cash will sit idle for a week until the next auction buy date. Terrible service.
Yes, I have been rolling my T-bills myself but it’s a pain. You have to keep track and put in the auction order several days ahead of the maturity date. Planning to shift substantial funds over to Fidelity for this, and for the better cash sweep they offer.
@@Ann-yk3sl I have changed to: when a TBill matures, I take the proceeds and do a market order for a TBill 8 - 9 weeks out.
Great video, as always. Can you do a video on how you might use treasuries in a taxable account? For example, with an opportunity approaching in treasuries, would you consider buying in a taxable account if there's no space or not available in tax-advantaged accounts? Also, could you share your thoughts on investing in bond funds (e.g., BND) now. Thanks!!
Noted
Impt update, Jen. Any similar issues with Merrill Edge @ BoA?
BoA and Merrill Edge! Etc.! Absolutely the most flakey banking situation and worst customer service ever!
We haven't looked into Merrill Edge quite honestly, but will add it to our list of video requests.
Hi Jen!! What is a bank sweep program? Is that where your deposit goes before you pick your investments?
Yes, it's basically your cash balance at Schwab. It has by far the lowest yield of the big three of Fidelity/Vanguard/Schwab (by around an order of magnitude) so you shouldn't keep a large balance at Schwab.
@@Tamdrik Thank you!
Glad you got your ques
What if i want to move and i have my tbill ladder there?
You could open an account at another brokerage and as the tbills mature purchase the replacements in the new account.
Thank you for the information. I'm a person starting to save money and want to invest for retirement. I live in Canada and have a 1.5k excess to invest per month as I paid off my mortgage after 22 years. Unfortunately, what people enjoy in the US with fedility and other trades is far better than anything offered in Canada. Why is there such a discrepancy between borders? Should I try to invest in US and pay the non residents tax. I could move money 10k at a time per travel per month.
Considering moving my investments from WElls Fargo. Schwab or Fidelity? or mayb split it? Any recommendations?
Most of my T-bills were bought through Schwab. Should I worry? Should I buy T-bills at TD from now on? Before I watched this video, I thought there was no difference where I bought the T-bills. Thanks.
What is the difference between a brokerage platform (Schwab) and a trust fiduciary platform (Seacoast Bank)? Maybe you could do a video comparison with pros and cons?
thanks for update on Schwab! We do have more than the FDIC guaranteed amount in Schwab, but it is all in laddered T-bills. So, I am thinking that all of that money is protected by the US government. So I don't have to worry. Is my thinking correct?.
You're welcome Ann! If you are referring to Schwab brokerage, it is SIPC protection (FDIC is for bank deposits at a FDIC-insured bank). Here is the video on how SIPC works: ua-cam.com/video/kY5BswpUlf4/v-deo.html
Thx, great video. Pls continue to make update and others as well, Fidelity and Vanguard.
In this video, I saw a billion dollars of net income for the quarter. Not too shabby.
Customer service is awesome
i called them yesterday and inquired about if I have TBills are they 100% protected if Schwab goes down? They said no, you are limited to combined $500k. That's a big durprise because we hear that with US TBILLS you are 100% protected, so what happens to that good faith?,Also for the past year Schwab AP sucks and does not stream. It streams for few seconds and then stops. They keep saying they are aware of it!!! Also they removed CNBC from their AP.
Schwab is too big to fail. Worse comes to worse, JP Morgan or BoA would buy (bail them) out. While depositors will be safe, it's just one fewer company... and the mega financials keep growing (less competition).
Don't forget, they let Lehman Fail. They will also let either BoA OR Chase Fail!! and bailout one of those two along with the rest of the herd when shtf. Which one? In my estimation it will be BoA because Jaime Diamond is the king; and they won't kill their king.😂
Both JPM and BAC are G-SIB designated banks. JPM is tier 4 and BAC is tier 3.
@@paulstein916 That's just a superficial marketing tool the clown bankers use to mislead the public.
@@bonanzatime Lehman was an investment bank, and tiny compared to BoA or Chase. If you are scared money, go right ahead thinking that there wouldn't be a bailout... but don't make farcical claims.
I was ready to send half of my investments to First Republic just before I learned they were in trouble. What saved me was bad customer service, no return calls, no sorry! I told them by bank has never treated me this badly. So, Thank You for your poor customer service.
Please provide an update on Schwab for 2023 Q4 and 2024 Q1 - thank you.
Hi Laura - Our next member video will include a short update on Schwab. Best - Eva
I didn't like TD, they sucked compared to Waterhouse (which is why I was there to begin with). So far I kinda like Schwab.
@@Sylvan_dB Thank Goodness☺
❤ ❤❤❤❤ + more schwab please as you see appropriate +
Just want to say my experience with Vanguard CS is terrible, I don't know about Schwab.
The bugs from purchase of TD is still working it's self out.
"synergies" == happy-sounding corporate-speak for mass layoffs
It is terrible that Schwab is replacing SSE trading platform with Think or swim. T or S platform is absolutely useless
for stock traders, it may be good for options and futures but no good for regular stock traders
Schwab has a strong cash balance sheet
As shown in a prior video, Schwab is the best brokerage to buy/sell TIPS or regular treasuries in the secondary market.
Thanks for sharing your Schwab experience Oliver!
The mucking around with the ameritrade interface, without giving one a choice is dumb, and imo should be a reflection of the business leadership- in general. Incredibly foolish unforced error.
I closed out my Schwab account. I never made any money with their intelligent portfolio, nor their other crummy in house funds. Great way to lose money.
Schwab should be paying 👉YOU👈. You answer more questions than their flakey customer service and rabbit-hole website could ever do on their best days.😂 Bless You