According to InvestmentNews.com Charles Schwab is offering loans to stockbrokers who want to become independent financial advisers. Schwab intends to offer loans of up to $100,000 to finance office furniture, technology purchases and working capital, to advisors who have at least $75 million in assets under management.
Deals for office space and support services by broker-dealers to Advisors have been in existence for years. A loan to pay for such services is new. Is it a reaction to the Massachusetts probe of UBS's deals with hedge fund advisors that was widely reported earlier this year?
