Charles Schwab is in talks to buy USAA’s brokerage and wealth-management operations for $2 billion, The Wall Street Journal reported.
Schwab would add approximately $100 billion of assets from USAA and a deal could be reached this month.
Earlier this month, USAA completed the sale of its investment-management business to Victory Capital Holdings in a deal valued at $850 million. USAA oversaw a portfolio of 47 mutual funds, six exchange-traded funds and a college savings plan.
