Charles Schwab

Discount stock broker and financial services firm.

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211 Main Street
San Francisco, CA 94105
Employees: 14,600
CEO: Walter Bettinger
Stock Symbol: SCHW


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The Charles Schwab Corporation is one of the nation's largest financial services firms.

Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank, provides banking and lending services and products.

The company has 9.4 million client brokerage accounts, 1.4 million corporate retirement plan participants, 985,000 banking accounts, and $2.46 trillion in client assets. Clients include domestic and international individual investors, independent investment advisors and corporate retirement and investing plan sponsors.

Charles Schwab is a leading provider of discount brokerage services both online and at retail offices. Schwab offers online trades at $8.95 per trade.

Schwab has over 325 branch offices across the U.S., one branch in Puerto Rico and one branch in London. Hong Kong clients are served through a subsidiary.

In 2014, Schwab reported revenues of $6.05 billion, up 11% from the previous year, and net income of $1.3 billion, up 23%.

The company reported annualized net revenue per full-time employee of $428,000 at the end of the fourth quarter of 2014.


In 1963, Charles Schwab and two other partners launch Investment Indicator, an investment advisory newsletter. At its height, the newsletter had 3,000 subscribers, each paying $84 a year to subscribe.

Schwab opened his first brokerage in 1975 offering discounts on commissions. The company opened its first office outside of California in Seattle in 1977. The Bank of America acquired Schwab for $57 million in 1983.

In 1987, management leads a buyback from Bank of America for $280 million and Charles Schwab would go public in September, 1987.

The company launched its website in 1995 and began offering online trading in 1996.

On July 1, 2007, the company completed the sale of all of the outstanding stock of U.S. Trust Corporation. On March 31, 2007, the company completed its acquisition of The 401(k) Company, which offers retirement plan services.

In 2011, Schwab acquired OptionsXpress Holdings and Compliance 11.

In 2013, Schwab ETF OneSource platform launches with commission-free trades on ETF funds.


- Medical
- Dental
- Vision
- Disability
- Life and Accidental Death & Dismemberment Insurance

- 401(k) Basic Match and Discretionary Profit Contribution
- Employee Brokerage Accounts and Trade Discounts
- Discounts on some Schwab Bank products
- Employee Discount Program

- Schwab Learning & Development
- Tuition Reimbursement
- Series 7 and 63 training

Updated January 21, 2015