Charles Schwab Corp. named Rick Wurster president, conferring the title on one of Chief Executive Walt Bettinger’s top deputies.
Wurster will take on the role starting Oct. 15, the company said in a statement Tuesday. Bettinger currently holds the title.
A nearly six-year veteran of the company, Wurster runs Schwab Asset Management, the arm of the business that oversees Schwab funds and exchange-traded funds.
Wurster previously worked at Wellington Management for a decade, where he was a portfolio manager, and at McKinsey & Co., where he led the asset management practice.
“Rick is an exceptional executive and leader and I am thrilled to continue working with him in his expanded role,” Bettinger said in the statement.
Schwab oversaw about $7.8 trillion in overall client assets as of Aug. 31.
The approval of the pay proposal, which handsomely compensates its CEO and president, bolsters claims that big payouts are a must in the war to retain leadership.
Integrated Partners is adding a husband-wife tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
