What Charles Schwab does

Charles Schwab is a publicly traded brokerage and wealth management firm (NYSE: SCHW), founded in 1971 and headquartered in Westlake, Texas, serving approximately 47 million client accounts holding $12.6 trillion in client assets. The firm operates across retail self-directed brokerage, registered investment advisor (RIA) custody, banking, lending, and retirement services, with a customer base spanning individual investors, mass-affluent households, and independent advisors. Post-TD Ameritrade, Schwab runs the largest U.S. RIA custody platform and is a primary destination for advisor-sourced client assets.

Schwab's product platform has expanded materially in 2026 to include spot cryptocurrency trading (May 2026), 24/7 crypto futures (June 2026), prediction market access via Cboe (June 2026), and AI Portfolio Insights (May 2026), alongside the Forge Global acquisition (~$660M, March 2026) extending distribution into private market securities. The underlying platform integrates trading, custody, banking, lending, and advisor workstation tooling, with operational scale creating unit-cost advantages in clearing and cash sweep.

The business model is asset-driven. Revenue is generated primarily through net interest income on client cash balances and margin lending, plus asset-based management and administrative fees on client AUM. Q1 2026 revenue was $6.5 billion, full-year 2025 revenue was $23.9 billion, and management is guiding 14–15% revenue growth for 2026. Leadership comprises CEO Rick Wurster, CFO Mike Verdeschi, and Co-Chairman Charles R. Schwab; the firm trades at a forward P/E near 14.2x.

Name

Charles Schwab

Legal name

The Charles Schwab Corporation

Website

https://schwab.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Charles Schwab is a publicly traded U.S. brokerage and wealth management firm serving roughly 47 million client accounts with $12.6 trillion in client assets through self-directed trading, RIA custody, banking, lending, and advisory services.

Ownership category

akta.pro rank

Product category

Retail Brokerage and Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Depository Credit Intermediation (5221)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industry

Wealth Lending & Margin / Securities-Backed Lines (Retail) (FSAAAAAN)

Keywords

• Retail brokerage services
• Wealth management solutions
• Retirement planning accounts
• Investment advisory services
• Online trading platforms

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Net Interest Income: Interest earned on client cash balances held in brokerage accounts, money market funds, and bank deposits. Historically the largest revenue driver, though declining as clients shift from low-yield sweep accounts. Also includes interest earned on margin lending and bank loans.
2. Asset Management and Administration Fees: Revenue from advisory fees on managed accounts, administration fees on mutual funds and ETFs, and asset-based revenues from third-party fund distributions. Includes Schwab Intelligent Portfolios, Managed Portfolios, and advisory services.
3. Trading Revenue: Commissions from equity, options, futures, and forex trades. Options trades at $0.65/contract, futures at $2.25/contract. Declining due to zero-commission equity/ETF trading trend.
4. Cryptocurrency Trading: Fee revenue from spot Bitcoin and Ethereum trading at 0.75% per trade, launched May 2026 for retail clients through Schwab Crypto platform.
5. Prediction Markets: Revenue from binary options contracts on S&P 500 index through Cboe partnership, expected to launch in coming months.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels10 records

Core offering

Charles Schwab operates a comprehensive financial services platform offering brokerage, banking, retirement, and wealth management to approximately 47 million client accounts. The company provides $0 online equity trades, robo-advisory through Schwab Intelligent Portfolios, professional trading via the thinkorswim platform suite, cryptocurrency trading through Schwab Crypto, integrated banking products, and RIA custody services for 16,000+ advisory firms managing $10 trillion in assets.

Product overview

Charles Schwab operates as a comprehensive financial services platform offering a multi-product architecture centered on its Schwab One® Brokerage Account as the core offering. The platform encompasses trading services through Schwab Trading Powered by Ameritrade™ and the thinkorswim® platform suite (desktop, mobile, web), automated investing via Schwab Intelligent Portfolios®, and cryptocurrency trading through Schwab Crypto™. Retirement solutions include Traditional IRA, Roth IRA, Rollover IRA, and Personal Choice Retirement Account (PCRA). Education savings is served through the 529 College Savings Plan. Banking products include Schwab Bank Investor Checking™ and Savings. Investment products include Schwab ETFs™, Schwab Funds®, and Alternative Investments. Direct indexing is available through Schwab Personalized Indexing™. Advisory services are offered via Schwab Wealth Advisory™. The platform also includes charitable giving (DAFgiving360™), small business solutions, and new prediction markets products. All services are accessible through Schwab.com, Schwab Mobile app, and thinkorswim platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Schwab Funds: Mutual funds distributed by Charles Schwab & Co., Inc., managed by Charles Schwab Investment Management
• Schwab ETFs
• Schwab Intelligent Portfolios
• Schwab Teen Investor
• Schwab One
• Schwab Network
• Schwab Advisor Services
• Schwab Crypto

Products and services

• Schwab One® Brokerage Account Core brokerage account offering $0 online equity trades and access to stocks, fractional shares, mutual funds, ETFs, index funds, bonds and more. Designed for individual self-directed investors.
• thinkorswim® Trading Platforms Award-winning professional-grade trading platform suite (desktop, mobile, web) with advanced charting, technical analysis tools, paper trading, and access to stocks, ETFs, options, futures, and forex markets. Targeted at active traders and experienced investors.
• Schwab Trading Powered by Ameritrade™ Unified trading platform combining Schwab and TD Ameritrade capabilities, offering award-winning trading platforms, tailored education, and specialized trading support. Targeted at active traders.
• Schwab Intelligent Portfolios® Automated robo-advisor service that builds and manages diversified portfolios with automatic rebalancing, with no advisory fee for the standard tier. Targeted at individual investors seeking hands-off portfolio management.
• Schwab Crypto™ Spot Bitcoin and Ethereum trading service with 0.75% fee per trade, plus 24/7 cryptocurrency futures trading on thinkorswim covering Bitcoin, Ether, Solana, and Ripple. Available to eligible customers in most U.S. states excluding New York and Louisiana.
• Individual Retirement Accounts (IRAs) Retirement accounts including Traditional IRA, Roth IRA, Rollover IRA, Inherited IRA, and Custodial IRA with tax advantages and a range of investment options. Targeted at individual savers planning for retirement.
• 529 College Savings Plan Tax-advantaged education savings plan with high contribution limits for college and beyond. Targeted at parents, guardians, and family members saving for education expenses.
• Schwab Bank Investor Checking™ FDIC-insured checking account linked to Schwab One brokerage account, featuring unlimited ATM fee rebates, no monthly fees, and no minimums. Targeted at investors needing integrated banking.
• Schwab ETFs™ Over 30 low-cost exchange-traded funds providing broad market exposure across various asset classes and investment strategies, managed by Charles Schwab Investment Management.
• Schwab Funds® Index mutual funds and other fund products managed by Schwab Asset Management with no load and no transaction fees. Distributed by Charles Schwab & Co., Inc.
• Schwab Wealth Advisory™ Wealth management advisory service with dedicated advisors providing personalized guidance for clients meeting eligibility requirements.
• Schwab Personalized Indexing™ Direct indexing service allowing personalized tax-loss harvesting and customization at scale, enabling tailored index-based portfolio construction.
• Futures and Forex Trading Futures trading for over 100 contract types nearly 24/5, and forex trading available through thinkorswim platform. Operated through Charles Schwab Futures and Forex LLC.
• DAFgiving360™ Donor-advised fund providing a simple, tax-efficient solution for charitable giving. Operated by Donor Advised Charitable Giving Inc., a Charles Schwab subsidiary.
• Prediction Markets Binary options contracts on S&P 500 performance through partnership with Cboe Global Markets, allowing yes-or-no bets on index movements with fixed cash settlement or nothing. Targeted at retail investors.
• Small Business Solutions Small business retirement plans including SEP IRAs and 401(k)s, organization accounts, and cash management solutions for entrepreneurs and small business owners.
• Schwab Teen Investor™ Brokerage account for parents opening accounts with their teen, enabling early investing education with parental oversight.
• Schwab Advisor Services Custody and platform services for 16,000+ independent registered investment advisors managing approximately $10 trillion in client assets, including real-time ACH payment processing for fee collections, distributions, and onboarding.
• Cboe Predicts Plus Zone Cboe Predicts binary options contracts featuring a 'Plus Zone' option for partial payouts when directionally correct predictions are made on S&P 500 index movements.

Quantifiable outcome

• $756 million in price improvement delivered to clients on exchange-listed equity orders in Q1 2026
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered minor, core and strategic.

• BlackstoneminorChannel Partner/ Reseller/ Distributor · 26 June 2026Alternative asset manager Blackstone provides private equity, real estate, and infrastructure funds distributed through Altruist's digital platform and wealth management platforms including Charles Schwab.
• KKRminorChannel Partner/ Reseller/ Distributor · 26 June 2026KKR provides alternative investment products distributed through wealth management platforms as competition intensifies for private market investment access.
• JPMorgan Asset ManagementminorChannel Partner/ Reseller/ Distributor · 26 June 2026JPMorgan Asset Management provides alternative investment fund access distributed through wealth management platforms competing to become private market 'operating system'.
• Apollo Global ManagementminorChannel Partner/ Reseller/ Distributor · 26 June 2026Apollo Global Management expanding partnerships with wealth platforms to reach retail wealth channel investors.
• Hamilton LaneminorChannel Partner/ Reseller/ Distributor · 26 June 2026Hamilton Lane expanding partnerships with wealth platforms for retail distribution of alternative investment products.
• BlackRockminorChannel Partner/ Reseller/ Distributor · 26 June 2026BlackRock expanding partnerships with wealth platforms for alternative asset distribution into retail wealth channel.
• Cboe Global MarketscoreTechnology or Integration · 19 June 2026Charles Schwab partnered with Cboe Global Markets to offer binary options contracts allowing customers to place yes-or-no bets on S&P 500 performance. The contracts pay fixed cash settlement or nothing depending on index closing price relative to target level. Schwab also plans to offer Cboe's 'Plus Zone' feature enabling partial payouts for directionally correct predictions. The rollout is expected in coming months.
• SpaceXstrategicChannel Partner/ Reseller/ Distributor · 12 June 2026Charles Schwab was one of five brokerage platforms selected by SpaceX to distribute IPO shares to retail investors. SpaceX's June 2026 IPO valued the company at $1.77 trillion, with approximately 30% of shares ($22.5 billion) allocated to retail investors through platforms including Schwab.
• PaxoscoreTechnology or Integration · 13 May 2026Paxos handles execution and sub-custody for Charles Schwab's spot Bitcoin and Ethereum trading services. Schwab Premier Bank serves as primary custodian. The partnership enables Schwab to offer cryptocurrency trading with 0.75% fee per trade.
• Forge GlobalstrategicStrategic or Co-development Partner · 11 March 2026Charles Schwab's $660 million acquisition of Forge Global expands the company's presence in private markets, enabling Schwab to offer private equity, real estate, and infrastructure fund access to wealth management clients and advisors.

Scale indicators15 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Vanguard: Vanguard is the dominant low-cost mutual fund and ETF provider that pioneered zero-commission and ultra-low fee index investing. Directly competes with Schwab on retail brokerage, ETFs, mutual funds, and retirement accounts with similar fee-sensitive customer base.
• Fidelity Investments: Fidelity is the largest privately-held competitor to Charles Schwab, offering retail brokerage, mutual funds, ETFs, retirement accounts, and wealth management with comparable scale and product breadth. Direct competitor across virtually all of Schwab's segments including workplace retirement plans.
• Robinhood Markets: Robinhood pioneered zero-commission retail trading and expanded aggressively into crypto, options, and retirement accounts. Directly competes with Schwab on retail self-directed trading, particularly among younger and first-time investors.
• LPL Financial: LPL Financial is the largest independent broker-dealer in the US, providing custody, clearing, and platform services to RIAs and financial advisors. Directly competes with Schwab Advisor Services in RIA custody.
• Interactive Brokers: Interactive Brokers is a leading professional-grade online broker with global multi-asset capabilities and active trader focus. Directly competes with thinkorswim and Schwab Trading on advanced trading, options, futures, and international market access.
• Morgan Stanley (E*TRADE): Morgan Stanley acquired E*TRADE in 2020 and operates a major retail brokerage franchise plus wealth management arm. Directly competes with Schwab in retail trading, advisor services, and wealth management.
• Raymond James Financial: Raymond James provides full-service brokerage, wealth management, and advisor services with a large branch network. Competes directly with Schwab in retail brokerage, advisor services, and wealth management.

Broad incumbents

• JPMorgan Chase: JPMorgan operates a global investment bank and wealth management franchise with significant retail brokerage, asset management, and private banking capabilities. Broad incumbent that overlaps with Schwab in wealth management, investing, and alternative investments.
• Bank of America (Merrill Lynch): Bank of America operates Merrill Lynch wealth management alongside its retail bank. A broad incumbent with overlapping capabilities in brokerage, wealth management, banking, and retirement — but a much larger portfolio beyond retail brokerage.

Emerging players

• Coinbase: Coinbase is the largest US cryptocurrency exchange with retail and institutional trading, custody, and staking services. Emerging player in retail crypto trading that directly competes with Schwab Crypto for crypto-native retail investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/CharlesSchwab
• YouTubeyoutube.com/channel/UCToe3dspZyw2L_JY-JmP3Mw
• Facebookfacebook.com/CharlesSchwab
• LinkedInlinkedin.com/company/charles-schwab

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Charles Schwab