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Schwab to launch its own 'tax-aware' long-short strategy, a segment that has attracted over $170 billion from wealthy investors
Schwab CEO Rick Wurster announced on the company's earnings call that the broker plans to launch its own version of the tax-aware long-short strategy. This type of strategy has seen booming demand from wealthy investors looking to shield capital gains, with total assets in such strategies surging to over $170 billion this year from $2 billion in 2022.
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