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Apr 20, 2011

Wells Fargo CFO says property market mixed

SAN FRANCISCO (Reuters) – Wells Fargo & Co expects the U.S. housing market to remain mixed as consumers digest conflicting news about the economy, Chief Financial Officer Tim Sloan said on Wednesday.

“You’ve got consumers getting good economic information one week and then another week it’s not as good. There’s a lot for the consumer to be concerned about, for certain,” Sloan said in an interview following release of the bank’s first-quarter results.

Apr 20, 2011

Wells Fargo profit up as credit quality improves

SAN FRANCISCO/NEW YORK (Reuters) – Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz), the fourth-largest U.S. bank, posted higher quarterly profit, but its results were shaped by the same trends as most of its rivals, which is unusual for a bank known for outsmarting competitors.

Earnings rose 50.5 percent, with gains were driven mainly by setting aside less money to cover bad loans. The bank’s loan book shrank as outstanding loans to consumers declined and loans to companies did not grow enough to make up for it.

Apr 18, 2011

TD Ameritrade beats estimates but stock slumps

SAN FRANCISCO (Reuters) – TD Ameritrade Holding Corp (AMTD.O: Quote, Profile, Research, Stock Buzz) reported strong quarterly results but its shares tumbled after Standard & Poor’s cut the credit outlook for the United States, potentially hurting the online broker’s clients.

TD Ameritrade shares were down 3.7 percent amid a slump in U.S. stocks as the S&P move added to worries about the global economy after China curbed liquidity.

Apr 18, 2011

TD Ameritrade results beat estimates; inflows up

SAN FRANCISCO, April 18 (Reuters) – TD Ameritrade Holding
Corp’s (AMTD.O: Quote, Profile, Research) quarterly profit and revenue jumped as trading
commissions increased amid rising stock markets, the online
brokerage said on Monday.

Net income increased to $171.7 million, or 30 cents per
share, in the second quarter ended on March 31 from $162.6
million, or 27 cents per share, a year earlier.

Apr 15, 2011

Schwab’s profit up on higher fees; shares rise

SAN FRANCISCO (Reuters) – Charles Schwab Corp (SCHW.N: Quote, Profile, Research, Stock Buzz), the largest U.S. discount brokerage, posted higher-than-forecast earnings as rising stock markets fueled increased trading and fees from clients, sending the stock up more than 2 percent.

Profit and revenue both came in above analysts’ estimates, driving the stock up 2.1 percent to $18.60 in early trade on the New York Stock Exchange.

Apr 4, 2011

Wealth adviser: Going independent sounds good but who has time?

SAN FRANCISCO (Reuters) – Independent brokers are increasingly eager to become registered investment advisers but are impeded by compliance concerns and time constraints, according to a new survey from Charles Schwab Corp.

Almost 86 percent of 157 brokers polled at independent broker dealers and insurance firms deemed the RIA route an attractive business model that reduces perceived conflicts of interest and opens income-increasing opportunities.

Apr 4, 2011

Going independent sounds good but who has time?

SAN FRANCISCO, April 4 (Reuters) – Independent brokers are
increasingly eager to become registered investment advisers but
are impeded by compliance concerns and time constraints,
according to a new survey from Charles Schwab Corp (SCHW.N: Quote, Profile, Research, Stock Buzz).

Almost 86 percent of 157 brokers polled at independent
broker dealers and insurance firms deemed the RIA route an
attractive business model that reduces perceived conflicts of
interest and opens income-increasing opportunities.