Charles Schwab 3rd-Quarter Profit Soars
Business Law
Brokerage firm Charles Schwab Corp. said Monday its third-quarter earnings soared, mainly due to a big gain on the sale of its U.S. Trust wealth management business.
Schwab reported earnings of $1.53 billion, or $1.28 per share, for the quarter ended Sept. 30 compared with $266 million, or 21 cents per share, a year ago.
The latest earnings include a $1.2 billion after-tax gain from the sale of U.S. Trust, which was sold July 1 to Bank of America Corp. for $3.3 billion.
Excluding the gain, Schwab's earnings from continuing operations were $323 million, or 27 cents per share.
Schwab reported third-quarter revenue of $1.29 billion versus $1.07 billion in the year-ago period.
Analysts polled by Thomson Financial, on average, forecast earnings of 25 cents per share on revenue of $1.26 billion for the quarter. Analysts do not typically include one-time items in their forecasts.
Operating earnings were boosted by $37.3 billion in net new assets brought by clients to Schwab during the third quarter, a 66 percent increase from the same quarter last year.
The new assets helped Schwab reach a record $1.441 trillion in total client assets as of Sept. 30.
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Is Now the Time to Really Call a Special Education Lawyer?
IDEA, FAPE, CHILD FIND and IEPs: The Individuals with Disabilities Education Act (IDEA) guarantees all children with disabilities to a free appropriate public education (FAPE). FAPE starts with a school’s responsibility to identify that a child has a disability (Child Find) and create an Individualized Education Program (IEP) to suit the needs of the child.
Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.