Charles Schwab Completes Acquisition of Motif’s Technology Capabilities
SAN FRANCISCO–(BUSINESS WIRE)–The Charles Schwab Corporation (“Schwab”) today announced that it has completed the asset acquisition of Motif’s technology and intellectual property. Motif is a fintech pioneer that has combined breakthrough technology and data science to deliver customized thematic portfolios to investors. In addition to thematic investing, Motif’s technology platform offers the flexibility to personalize investments, supports real-time fractional share trading and can help enable sophisticated tax optimization strategies within investment portfolios.
The asset acquisition includes all of Motif’s technology and intellectual property, including algorithms, patents and source code. In addition, Schwab has hired a majority of Motif’s development and investment talent.
Financial terms of the transaction are not being disclosed.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 14.0 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.4 million banking accounts, and $4.0 trillion in client assets as of May 31, 2020. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.