The Charles Schwab Corporation is a major American multinational financial services firm headquartered in Westlake, Texas.
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Founded in 1971 by Charles R. Schwab, the company offers a comprehensive range of services, including commercial and personal banking, securities brokerage, wealth management, investment advisory, and financial planning, catering to both retail and institutional clients.
Who is Charles Schwab?
Charles R. Schwab and two other partners launched Investment Indicator, an investment advisory newsletter. They incorporated in 1971 and soon became a leader in discount brokerage services after the deregulation of brokerage commissions in 1975.
Schwab was the first to introduce various investor-centric services, such as 24/7 trading, mutual fund marketplaces, and online brokerage tools. By the 1980s, Schwab was recognized as “America’s Largest Discount Broker” and became a member of the New York Stock Exchange.
Between 2008 and 2019, Schwab focused on client-driven innovation during the financial crisis, launching commission-free ETFs and mobile solutions. Schwab introduced services such as Schwab Intelligent Portfolios and StreetSmart Edge for active traders.
By the end of this period, client assets had grown to $2 trillion. Schwab made a significant move by acquiring TD Ameritrade, expanding its market reach and product offerings.
From 2020 to the present, Charles Schwab has continued its growth through acquisitions, new services, and digital transformation. It introduced products like Schwab Stock Slices and Schwab Personalized Indexing. Schwab expanded its ESG and thematic investing options, launching ETFs like the Schwab Crypto Thematic ETF.
What does Charles Schwab do?
Schwab serves three primary client groups: individual investors, independent registered investment advisors (RIAs), and employers offering workplace financial benefits. The company supports over 15,000 RIAs, 5.4 million workplace plan participants, and millions of individual investors.
As of late 2024, Schwab manages $10.31 trillion in total client assets, with 36.2 million brokerage accounts, 2 million banking accounts, and 6.62 million daily average trades. The firm holds $1.17 trillion in proprietary mutual funds and ETFs.
Charles Schwab Products and Services
- Accounts: Includes brokerage, retirement (IRAs), custodial, and small business accounts tailored to various financial goals.
- Trading: Offers advanced trading platforms like Schwab Trading Powered by Ameritrade and thinkorswim, covering stocks, options, ETFs, futures, and more.
- Investment Products: Wide range of products including mutual funds, ETFs, stocks, bonds, CDs, money market funds, annuities, and crypto-related options.
- Banking & Borrowing: Offers checking, savings accounts, home loans, credit cards, and borrowing solutions.
- Featured Offerings: Innovative products like Schwab Stock Slices (fractional shares), Schwab Starter Kit (beginner investing), Schwab Personalized Indexing, and tax-efficient retirement solutions.
Charles Schwab Leadership
- Charles R. Schwab – Co-Chairman, Director
Founder of Charles Schwab & Co., Mr. Schwab served as Chairman from 1986 to 2022 and Co-Chairman since 2022. He was CEO during two key periods (1986–1997 and 2004–2008) and helped establish the company as a leading investment firm. His long-standing vision continues to drive Schwab’s growth. - Walter W. Bettinger II – Co-Chairman, Director
Served as CEO from 2008 to 2024, leading Schwab to become one of the largest publicly traded investment services firms in the U.S. under his tenure. The firm experienced remarkable growth in client assets, accounts, stock value, and employee count. Bettinger became Co-Chairman in 2022. - Rick Wurster – President and CEO
Appointed President and CEO in January 2025, Wurster oversees Schwab’s client enterprises, banking, trust services, technology, and global operations. With $10.31 trillion in client assets and millions of accounts, Schwab remains a leading global financial firm under his leadership. He previously led Schwab Asset Management Solutions. - Omar Aguilar – CEO and CIO, Schwab Asset Management
Responsible for leading Schwab Asset Management’s investment strategies, Aguilar also oversees the Schwab Center for Financial Research. With over 25 years of experience in equity markets and asset management, Aguilar drives the firm’s research and financial guidance initiatives.
Charles Schwab Contact Information Summary
- General Inquiry: 877-519-1403
- Brokerage Services: 800-435-4000
- TTY Services for Hearing Impaired: 800-345-2550
Banking & Mortgage
- Schwab Client Banking Services: 888-403-9000
- Mortgage Customers: Contact Rocket Mortgage at 877-535-4023.
Schwab Intelligent Portfolios
- Customer Support: 855-694-5208
Trading Services
- Customer Support: 888-245-6864
Retirement Services
- IRA and Small Business Retirement: 800-435-4000
- Workplace Retirement Plans: 800-724-7526
Multilingual or International Services
- Mandarin/Cantonese and Spanish Support: 415-667-8400
- International Client Services: 877-686-1937
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