JPMorgan (NYSE:JPM) and Charles Schwab (NYSE:PSCHW) have a new deal where Schwab clients have access to all of its fixed-income product line, as investors continue to look for sounder and safer places to put their money.
Included with the deal will be all the research JPMorgan has, and access to corporate debt securities, municipal bonds and nonconvertible preferred securities Morgan has underwritten.
Matt Zames, co-head of global fixed income at JPMorgan in New York, was extremely happy with the deal, saying the bank has been seeking ways to expand its product offerings to individual investors for a long time.
Other products from JPMorgan could be offered to Charles Schwab clients in the future.
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