Bloomberg Businessweek Bloomberg Businessweek Weekend: November 7th, 2025
14 snips
Nov 8, 2025 Rick Wurster, President and CEO of Charles Schwab, discusses the $660M acquisition of Forge Global, aiming to democratize access to private markets. Lizanne Saunders dives into market breadth, emphasizing AI-related valuation concerns and the uneven participation in gains. Fred Kanor sheds light on donor-advised funds, explaining their structure, investment options, and the flexibility they offer for charitable giving. Together, they offer valuable insights on investing strategies in a changing market landscape.
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Private Markets Democratized
- Schwab sees private markets as a massive opportunity to democratize access for all investors.
- The Forge acquisition creates three entry paths: alternatives menu, an indexed private-company fund, and an accredited-investor marketplace.
Build Tiered Access For Alternatives
- Launch tiered offerings so investors at any wealth level can participate in alternatives.
- Offer indexed funds for broad access and marketplaces for accredited investors to buy individual private shares.
Prioritize Long-Term Ownership
- Advise clients to avoid market timing and focus on long-term ownership to capture gains.
- Help clients diversify concentrated positions and consider tax-aware strategies when reducing exposure.