SCHWAB CHARLES CORP

Charles Schwab Corporation (NYSE: SCHW) operates as a savings and loan holding company providing comprehensive wealth management, securities brokerage, banking, asset management, custody, and financial advisory services through its subsidiaries. The company maintains a website at https://www.aboutschwab.com.

As of December 31, 2025, Schwab manages $11.90 trillion in client assets across 38.5 million active brokerage accounts, 5.7 million workplace plan participant accounts, and 2.2 million banking accounts. The company employs approximately 33,000 full-time equivalent employees and operates through two primary reportable segments: Investor Services and Advisor Services.

The Investor Services segment serves individual investors through its Retail Investor business unit, offering brokerage accounts, trading capabilities, advisory solutions, and educational resources. This segment also includes Workplace Services, which provides retirement plan services, stock plan administration, and designated brokerage services to employers and their employees. Additionally, Investor Services encompasses Mutual Fund Clearing Services and Off-Platform Sales of proprietary mutual funds and exchange-traded funds.

The Advisor Services segment supports independent registered investment advisors and retirement advisors by providing custodial, trading, banking, trust, and operational support services. Schwab serves as custodian for advisor client accounts without charging custody fees, instead generating revenue through net interest revenue and asset management fees on underlying client assets.

Schwab's revenue streams derive primarily from net interest revenue, asset management and administration fees, trading revenue, and bank deposit account fees. The company offers an extensive product suite including individual securities trading, mutual funds, exchange-traded funds, alternative investments, managed portfolios, cryptocurrency exchange-traded products, banking services including mortgages and home equity lines of credit, and trust services.

Founded nearly 55 years ago on the principle of providing Americans access to financial markets at competitive costs, Schwab has evolved into one of the largest investment services firms in the United States. The company's competitive advantages include its substantial scale, operating efficiency, diversified revenue streams across banking and wealth management, strong brand reputation, service-oriented culture, and willingness to challenge industry practices. In November 2025, Schwab announced plans to acquire Forge Global Holdings, a private market platform operator, expected to close in March 2026.