After The Wall Street Journal reported that Charles Schwab is in talks to acquire the brokerage and wealth-management operations of USAA for roughly $2B, Wells Fargo analyst Christopher Harris noted that the deal is said to involve $100B of client assets, or approximately a bit under 3% of Schwab's total client assets. Given this size, he said the theoretical deal "would clearly not qualify as a transformative deal although is not insignificant." The analyst, who pointed out that the economics of this potential transaction are unknown, believes the shares are trading higher due to the potential for deal-related EPS accretion. Harris has a Market Perform rating on Charles Schwab shares.