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Topics covered in this podcast include: Schwab and Goldman merger, stock challenges, new sponsor Rocket Money, decline in existing home sales, Nvidia's impact on the market, exploring Elon Musk's power and ambitions, the issue of shrink in the retail industry, analyzing a mystery chart for stock accumulation and volspike price spike, banter and podcast updates.
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- Schwab's acquisition of TD Ameritrade positions them as a multi-trillion dollar behemoth in various financial sectors.
- Goldman Sachs selling United Capital marks a significant development in the wealth management industry, with an uncertain future for the company.
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Charles Schwab to lower headcount after merger with TD Ameritrade
Charles Schwab has announced plans to reduce its headcount after completing its acquisition of TD Ameritrade. The merger between the two brokerage firms was announced in 2019 and comes as Schwab transitions its business model to focus more on asset management and banking. Schwab will benefit from the merger by becoming a multi-trillion dollar behemoth in custody, trading, asset management, retail brokerage, and institutional brokerage.
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