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June 24, 2020updated 28 Jun 2020 8:10pm

Charles Schwab finalises purchase of Motif technology and intellectual property

Discount broker Charles Schwab has wrapped up the acquisition of the technology and intellectual property of California-based broker-dealer Motif.

The transaction was announced last month. The deal value was not revealed.

The deal covers Motif’s algorithms, patents as well as source code.

Most of Motif’s development and investment staff have moved to Charles Schwab as part of the deal.

Motif focuses on thematic investing and also supports real-time fractional share trading.

Acquisitions by Charles Schwab before Motif

This February, Charles Schwab announced the acquisition of Wasmer, Schroeder & Company, a Florida-based fixed income manager focusing on separately managed accounts.

The deal adds $10.5bn in assets to Charles Schwab’s books.

In November last year, Charles Schwab agreed to buy smaller rival TD Ameritrade in a deal worth around $26bn. The combined group will be a brokerage giant with more than $5trn in assets.

In July 2019, Charles Schwab agreed to buy certain assets of USAA Investment Management Company for $1.8bn.

Charles Schwab offers wealth management, securities brokerage, banking, asset management, custody, as well as financial advisory services through its operating subsidiaries.

At the end of May, the firm had over 360 offices and $4trn in client assets.

It had 14 million active brokerage accounts, 1.7 million corporate retirement plan participants, and 1.4 million banking accounts at the end of the same period.

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