According to reports, brokersXpress will have a call with its 300 financial advisors and announce that it is shutting down operations.
The Charles Schwab Corp. last year bought optionsXpress Holdings Inc., the parent company of brokersXpress. It is unclear why brokersXpress would be shutting its doors now.
brokersXpress has attracted independent financial advisors by offering (according to its website) (1) high payouts, low ticket charges and no hidden fees, (2) expert support, (3) trading convenience, and (4) true independence.
If the news about brokersXpress’ closing is true, the reps with brokersXpress will be looking for a new platform for their business.
The foregoing information has been provided by The White Law Group. The White Law Group is a national securities fraud, securities arbitration, securities regulation and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on the firm, visit http://www.whitesecuritieslaw.com.