Welcome back to Morning Trade Live. It's time now for the big picture. Let's welcome in Cooper Howlet, director of fixed income research and strategy, Schwab Center for Financial Research.Busy morning here, Coupe. Obviously, we had some data and we'd be talking about this if we didn't have the Middle East headlines. So, how are you tying it all together this morning because it feels like the macro element is being largely overshadowed by, you know, the the headlines coming through from the Middle East today ...

Core Insights - Feathery has launched the first one-click Schwab account opening solution via API, allowing advisory firms to create Schwab accounts directly from their workflows without manual data entry or system switching [1] Group 1: Product Launch - The new solution addresses the time-consuming nature of account opening in wealth management, where advisors often enter the same client information multiple times [1] - By utilizing Schwab's Digital Account Onboarding APIs, Feathery enables firms to validate client data, generate onboarding envelopes, and submit account opening requests within a single workflow [1] - This integration aims to streamline the onboarding process, allowing advisors to focus more on client service rather than administrative tasks [1] Group 2: Benefits of Integration - The expanded integration allows firms to streamline mergers and acquisitions (M&A) and transitions for Schwab accounts [1] - It facilitates embedding custodian onboarding into broader client workflows, accelerating the time to account opening and funding [1] - The solution eliminates duplicate data entry, pre-validates client and account information to reduce Not-In-Good-Order (NIGO) errors, and enables direct account opening from Feathery workflows [1] Group 3: Operational Efficiency - Feathery's platform orchestrates workflows across various systems, enabling firms to collect client information once and track onboarding status throughout the process [1] - The Schwab API integration represents a significant step towards fully automated client onboarding, reducing operational friction and improving data quality [1]

WESTLAKE, Texas--(BUSINESS WIRE)--The Schwab Trading Activity Indexâ"¢ (STAX) increased to 57.32 in February, up from its score of 49.96 in January. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab's millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. "February's score represented the biggest month-over-month per. ...

Charles Schwab didn’t just build a brokerage firm — he helped reinvent investing.See where he lands on the #Forbes250 America's Greatest Innovators list: https://t.co/CFs11UNXUH (Photo: Martin Schoeller) https://t.co/NdQllM0eoL ...

Core Insights - The Charles Schwab Corp. (NYSE:SCHW) is recognized as one of the top 15 stocks to invest in according to billionaires [1] - The company reported total client assets of $12.2 trillion for January 2026, reflecting an 18% year-over-year increase [1] - Core net new assets reached $27.8 billion, and new brokerage accounts grew by 10% to 476,000 [1] - Daily average trades increased to 9.5 million, indicating higher equity engagement, while margin loan balances rose by 4% to $116.3 billion [1] Financial Performance - Despite a seasonal decline of $20.4 billion in transactional sweep cash to $433.3 billion, the report highlights strong investor momentum and increased client participation [2] - UBS raised the price target for The Charles Schwab Corp. to $125 from $123, maintaining an Overweight rating on the stock [3] - Following a mixed quarterly report, investor focus is shifting towards 2026 guidance, with a constructive outlook noted by UBS [3] Company Overview - The Charles Schwab Corp. is a savings and loan holding company providing financial services globally, including wealth management, brokerage, banking, asset management, and advisory services [3]

Core Insights - Charles Schwab (SCHW) has completed the acquisition of Forge Global Holdings, Inc. for $660 million in cash, enhancing its private market access and offerings for investors [1][9] Deal Details - Schwab paid $45 per share in cash for Forge, with plans to offer Forge's products to ultra-high-net-worth clients and introduce '40 Act funds to broaden private-market access [2] - The acquisition is expected to extend access to over 1 million retail clients and registered investment advisers (RIAs) in the near term [3] Strategic Rationale - The acquisition aligns with Schwab's strategy to provide private market capabilities to retail and advisor clients, addressing complex investor needs [5] - By adding direct access to private securities through Forge, Schwab aims to capitalize on rising investor demand for early exposure to fast-growing startups [6] Revenue Diversification - The deal is expected to drive a surge in revenues for Schwab as transactional activity improves in the private market, complementing its existing equity management solutions for private companies [7] Market Performance - SCHW shares have increased by 3.5% over the past six months, compared to the industry's growth of 4.8% [8]

Core Viewpoint - The Charles Schwab Corporation has announced the scheduling of its Institutional Investor Day on May 14th, indicating a focus on engaging with institutional investors and potentially discussing strategic initiatives and financial performance [1] Group 1 - The event is set to take place in Westlake, Texas, highlighting the company's commitment to transparency and communication with its investors [1]

Core Viewpoint - The Schwab U.S. Dividend Equity ETF has performed exceptionally well this year, driven by significant contributions from the defense and energy sectors [1]. Group 1: Fund Performance - The ETF's top four holdings are Lockheed Martin, ConocoPhillips, Verizon, and Chevron, indicating a strong focus on defense and energy industries [1]. - Investors in the Schwab U.S. Dividend Equity ETF are experiencing unexpected high returns this year, contrary to typical expectations for such funds [1].

Core Viewpoint - The Charles Schwab Corporation is currently considered one of the best spring stocks to buy, with a price target increase from Truist Securities reflecting positive expectations for net interest income growth despite higher projected expenses [1][3]. Financial Projections - Truist Securities has raised its price target for Charles Schwab to $122 from $120 while maintaining a Buy rating [1]. - For 2026, Truist projects a year-over-year expense growth of 5.9%, aligning with Charles Schwab's own estimate range of 5.5–6.5% [3]. - The adjusted pretax margin estimate for 2026 is set at 52%, which is consistent with the company's projected "low 50s range" [3]. - Truist anticipates $8.25 billion in share buybacks for the year, representing approximately 4.6% of the company's market capitalization [3]. Company Overview - The Charles Schwab Corporation operates as a savings and loan holding company, providing services in securities brokerage, wealth management, custody, asset management, and financial advisory [4].

Core Viewpoint - A New York-based broker, Dean Dellas, has pleaded guilty to defrauding clients out of approximately $686,000 through a scheme involving wire fraud and aggravated identity theft [2][7]. Group 1: Background and Professional History - Dean Dellas was a broker and investment advisor at Merrill Lynch's Syracuse office from 2008 until September 2013, and later worked as a dually-registered advisor with Pinnacle Investments until February 2021 [2][3]. - After leaving Pinnacle, Dellas formed DSD Capital Management and continued to advise clients without being registered as an advisor or broker [3]. Group 2: Fraudulent Activities - Dellas misled clients about his advisor fees, claiming a 10% fee while actually taking much higher amounts through unauthorized withdrawals from their accounts [4][5]. - He misrepresented his relationship with clients, falsely stating that he did not receive compensation for his advice, and set up monthly withdrawals to his personal bank account without clients' knowledge [5]. - To conceal his fraudulent activities, Dellas withheld account statements from clients and impersonated them to brokerage firms [6]. Group 3: Legal Proceedings and Consequences - Dellas faces a sentencing date set for June 22, with potential prison time ranging from 2 to 22 years and a maximum fine of $250,000 [7]. - As part of his plea deal, Dellas has agreed to pay restitution to the affected clients [7].