Charles Schwab Closes Wasmer Schroeder Deal, Strengthens Fixed Income Portfolio

Charles Schwab has officially finalized its takeover of Wasmer Schroeder & Company, LLC, marking a significant expansion in its fixed income investment services. The target company brings $10.7 billion in assets under management to the table, with a well-established track record in separate account management across both tax-exempt and taxable income strategies.

Why This Matters for Schwab

The move signals Charles Schwab’s strategic push to capture growing demand among retirement-focused investors seeking steady income streams. By integrating Wasmer Schroeder’s extensive portfolio strategies, Schwab aims to differentiate its wealth management offerings in an increasingly competitive market. The acquisition also demonstrates confidence in the fixed income management space despite broader market uncertainties.

Integration and Team

Nearly all members of the Wasmer Schroeder team have been retained and integrated into Charles Schwab’s operations. This staffing decision suggests a seamless transition and preservation of institutional expertise—a critical factor in asset management deals where client relationships and investment philosophy matter significantly.

Portfolio management responsibilities will fall under Charles Schwab Investment Management, Inc. (CSIM), the company’s registered investment adviser subsidiary, ensuring consistent oversight and regulatory compliance throughout the integration process.

About Charles Schwab

Charles Schwab operates as a comprehensive financial services provider with substantial market presence: 360+ physical locations, 14 million active brokerage accounts, 1.7 million corporate retirement participants, and $4 trillion in total client assets (as of mid-2020). The firm delivers wealth management, brokerage services, banking, asset management, and advisory solutions through its network of subsidiaries and affiliated advisors.