Charles Schwab, a provider of financial services, completed the acquisition of Wasmer Schroeder, an independent investment manager of fixed income separately managed accounts with $10.5bn in assets under management, in an all-cash purchase. Financial terms were not disclosed. “Wasmer Schroeder’s professionally managed portfolios and investment capabilities will help Schwab deliver on a wide-range of fixed income investment needs and preferences, and complements the total wealth management offering we make available to our retail and RIA clients,” Rick Wurster, Schwab Asset Management Solutions Executive Vice President.