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Schwab might help independent adviser firms merge

Published on .

San Francisco--Charles Schwab & Co. Co-CEO David Pottruck told attendees at Schwab's Impact 1999 adviser conference that the company may begin acting as a facilitator in helping independent adviser firms merge. Mr. Pottruck's comments come as many industry consultants have been questioning whether small adviser firms can continue to compete with goliaths such as Merrill Lynch & Co., which have been steamrolling into the adviser business. Schwab serves 77% of all independent adviser firms.
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