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Schwab acquires Windward Investment Management


Charles Schwab has completed its acquisition of Windward Investment Management for USD150m in cash and stock.

The acquisition agreement was originally announced on 30 August.

As of 30 September, Windward managed USD4.24bn in client assets.

"We are pleased to be able to provide our investment advisor and retail clients with convenient and cost effective access to Windward’s portfolio management expertise," says Walt Bettinger, Schwab president and chief executive. "Their long-term track record of portfolio construction which has balanced risk management with market outperformance through global diversification is a tangible testament to the power of their approach and will be a great addition to Schwab’s investment management solutions."

Effective with the close, the Windward business is now named Windhaven Investment Management. Windward portfolios will now be called Windhaven portfolios and will be available as part of Schwab’s Managed Account Access service for investment advisers immediately and to Schwab retail clients in the coming months.

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