Schwab assets could grow 8-10 pct per year-Barron's
NEW YORK, July 12 (Reuters) - Charles Schwab Corp's(SCHW.O) assets could grow between 8 percent and 10 percent annually, the online brokerage's top executives said in the latest issue of Barron's.
The firm's recent performance and strategy of offering financial products at good prices will aid this growth, founder Charles Schwab and Chief Executive Walt Bettinger said in the July 13 issue of the weekly magazine.
Schwab, the No.1 U.S. discount brokerage, had $1.2 trillion in client assets as of end-May.
The San Francisco-based company, which also provides banking and financial advisory services, will soon launch its own exchange-traded funds. These funds are made up of stocks, bonds and other assets, and trade on exchanges like stocks.
"We are seeing ETFs as a major beginning for us," Schwab told Barron's.
Shares of Schwab closed Friday down 14 cents at $16.47 on the Nasdaq.
(Reporting by Anupreeta Das; Editing by Diane Craft)
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