Schwab Develops Long-Short Offering to Extend Direct-Indexing Capability

Charles Schwab is developing a proprietary long-short offering that would extend its direct-indexing capability, CEO Rick Wurster said during an Oct. 15 webcast, taking Schwab’s individual-stock approach into long-short accounts. Schwab’s existing Personalized Indexing service is a separately managed account that holds individual stocks and can harvest losses at the individual-holding level. Investors’ actual tax benefits are not guaranteed. Wurster said Schwab had slowed growth in its current long-short program to ensure it had the operational capacity to support the activity. He described the planned offering as a way to extend direct indexing into long-short strategies on a sustainable basis.

Source: TokenPost