Why is USAA transferring to Schwab?

Why is USAA transferring to Schwab?

USAA has also signed a long-term referral agreement for Schwab to be the exclusive provider of wealth management and investment brokerage services for USAA members. “USAA and Schwab share the same unwavering commitment to facilitate the financial security of our members and clients.

See also  Is Iffco Tokio government or private?