Charles Schwab

Charles Schwab Paying More Than $186 Million in Settlement Over Robo-Adviser Business

Charles Schwab Paying More Than $186 Million in Settlement Over Robo-Adviser Business

WASHINGTON— Charles Schwab SCHW 1.44% & Co. Inc. will pay more than $186 million to settle a regulatory investigation that found it didn’t adequately disclose how keeping a big share of clients’ assets in cash could hurt investment returns. The Securities and Exchange Commission said Schwab’s robo-adviser portfolios kept between 6% and 29.4% of assets …

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