Stephen NakrosisCharles Schwab Corp. said it would acquire assets of USAA’s investment management company, including brokerage and managed-portfolio accounts, for $1.8 billion.
Schwab said Thursday the deal would add more than one million accounts with about $90 billion in assets. The companies agreed to a long-term referral agreement under which Schwab would become the exclusive wealth management and brokerage provider for members of USAA.
What does that mean for current usaa account holders?
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