The Charles Schwab Corp

What The Charles Schwab Corp does

The Charles Schwab Corporation is a publicly traded bank holding company (NYSE: SCHW), headquartered in Westlake, Texas, that provides a full spectrum of retail brokerage, banking, and wealth advisory services through its operating subsidiaries, primarily Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB. The company serves three primary segments: individual investors via schwab.com, mobile apps, and 400+ U.S. branches; more than 16,000 independent Registered Investment Advisors (RIAs) through Schwab Advisor Services; and employers sponsoring 401(k) and retirement plans serving 5.8 million workplace plan participants. Its core platform integrates self-directed brokerage, automated advisory (Schwab Intelligent Portfolios), direct indexing (Schwab Personalized Indexing), proprietary ETFs and mutual funds, and donor-advised fund (DAFgiving360) services, with the thinkorswim platform acquired from TD Ameritrade providing professional-grade trading tools.

Schwab's technology stack spans Schwab.com, the Schwab Mobile App (ranked #1 by Corporate Insight in 2025), thinkorswim, and the Schwab Advisor Center, supported by 33,500 employees as of March 31, 2026 and digital accelerator hubs in San Francisco and Austin. The platform supports 24/7 trading on S&P 500, Nasdaq-100, and hundreds of ETFs, plus recently added cryptocurrency futures, and a 2026 AI-powered Portfolio Insights capability that synthesizes portfolio performance, market news, and proprietary Schwab Center for Financial Research commentary. Post-TD Ameritrade integration (completed 2024) and the March 2026 Forge Global acquisition (~$660M) have expanded the platform into private markets and pre-IPO shares.

Schwab monetizes through four revenue streams: Net Interest Income on client cash balances, margin lending, and investment of client assets (NIM expanded to 2.90% in Q4 2025); Asset Management and Advisory Fees on proprietary mutual funds, ETFs, and advisory services; Trading Revenue from commissions and related fees following the 2019 elimination of $0 U.S. equity and ETF commissions; and Other Revenue from banking, FX, and adjacent services. As of May 31, 2026, the company managed $13.14 trillion in client assets across 39.5 million active brokerage accounts, with $1.48 trillion in proprietary funds and ETFs, and delivered FY2025 net revenue of $23.9 billion (up 22% YoY) and GAAP net income of $8.9 billion (up 51% YoY).

Name

The Charles Schwab Corp

Legal name

The Charles Schwab Corporation

Website

https://aboutschwab.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Charles Schwab Corporation is a publicly traded bank holding company (NYSE: SCHW) that provides retail brokerage, banking, and wealth advisory services to 39.5 million active brokerage accounts, 16,000+ independent RIAs, and 5.8 million workplace plan participants, managing $13.14 trillion in client assets through schwab.com, mobile apps, thinkorswim, and 400+ U.S. branches.

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), Open-End Investment Funds (525910)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Savings Institutions, Not Federally Chartered (6036), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industries

Advisory Portfolio Management (Non-Discretionary) (FSAAABAD), Affluent / Mass-Affluent Private Banking (FSABADAC), Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Retail brokerage services
• Wealth management
• Investment advisory
• Retirement planning
• Banking services

Headquarters

HQ city

El Paso

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest earned on client cash balances held in Schwab's banking subsidiary, margin lending, and investment of client assets. Expanded Net Interest Margin to 2.90% in Q4 2025 due to normalized interest rate environment
2. Asset Management and Advisory Fees: Fees from proprietary mutual funds, ETFs, and advisory services including Schwab Intelligent Portfolios and managed account solutions
3. Trading Revenue: Commissions and transaction fees from equity, option, and other securities trading. While Schwab eliminated $0 commissions, other fees and services generate trading-related revenue
4. Other Revenue: Includes bank deposit account fees, foreign exchange revenue, and other financial service-related income streams

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Schwab operates as a retail brokerage, banking, and financial advisory firm offering self-directed and assisted investing through digital platforms (schwab.com, mobile apps, thinkorswim), 400+ physical branches, automated advisory services, ETF and mutual fund products, and workplace retirement plan administration. The firm serves 39.5 million active brokerage accounts and holds $13.14 trillion in client assets, generating revenue from net interest income, asset management and advisory fees, and trading-related revenue.

Product overview

Charles Schwab offers a unified multi-channel wealth management platform serving individual investors, independent registered investment advisors (RIAs), and employers. The core offering centers on Schwab.com (web platform) and the Schwab Mobile App (#1 mobile app), complemented by the thinkorswim trading platform for active traders. Advisory services include Schwab Intelligent Portfolios (robo-advisory) and Schwab Advisor Center for RIAs (serving 16,000+ advisors). Banking products are provided through Charles Schwab Bank, while investment products include Schwab ETFs (available commission-free via Schwab ETF OneSource) and direct indexing through Schwab Personalized Indexing. The 2026 product portfolio now includes the acquired Forge Global private markets platform and the new Schwab Teen Investor account for Gen Alpha investors. All services are supported by 24/7 trading capabilities, AI-powered portfolio insights, and DAFgiving360 donor-advised funds.

Differentiator

Problem solved

Functional benefit

Brands

• Schwab Advisor Services: Services for independent Registered Investment Advisors (RIAs) including custodial, trading, and business consulting services
• Schwab Asset Management
• Schwab Center for Financial Research
• thinkorswim
• DAFgiving360

Products and services

• Schwab.com Brokerage Platform Primary web-based brokerage and investing platform offering self-directed trading, account management, research tools, and educational resources for individual investors.
• Schwab Mobile App Mobile application enabling investors to manage accounts, trade, deposit checks, and access research on-the-go; ranks #1 in retail investor mobile experience per Corporate Insight 2025.
• thinkorswim Trading Platform Advanced professional-grade trading platform featuring charting, technical analysis, options trading, and 24/7 cryptocurrency futures trading for active traders.
• Schwab Intelligent Portfolios
• Schwab Advisor Center
• Charles Schwab Bank, SSB
• Schwab ETFs
• DAFgiving360
• Schwab Personalized Indexing
• Schwab Teen Investor Account Joint brokerage platform for teens aged 13-17 offering fractional shares and educational content with parental oversight.
• StreetSmart Pro/Edge
• Forge Global Private Markets Private marketplace platform integrated through acquisition, providing access to private securities, pre-IPO shares, and private market investments for individual investors and advisors.

Quantifiable outcome

• Total client assets reached $13.14 trillion as of May 31, 2026, up 27% year-over-year
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability4 records

Feature5 records

Partnerships

One partnership is on record.

• Forge Global Holdings Inc.coreStrategic or Co-development Partner · 2 March 2026Schwab completed acquisition of Forge Global Holdings at $45 per share (approximately $660 million). The transaction combines a leader in public markets with a leading private marketplace platform, enabling Schwab to offer both public and private market investments to individual investors and Registered Investment Advisors. Forge will continue operating independently while integration work is underway, with Schwab planning to gradually introduce Forge's products to its broader client base of 39 million active brokerage accounts.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Fidelity Investments: Fidelity is the most direct peer to Schwab, competing across retail brokerage, IRAs, ETFs, RIA custody, workplace retirement plans, and integrated banking. It operates a comparable hybrid digital-and-physical platform with proprietary mutual funds and serves as the principal alternative for self-directed investors and advisors.
• Raymond James Financial: Raymond James offers retail brokerage, RIA custody, investment banking, and wealth management through both employee advisors and independent contractor channels. Competes directly for retail brokerage clients, advisor custody relationships, and workplace retirement plan business.
• LPL Financial: LPL is the largest independent broker-dealer and RIA custodian in the U.S., competing directly with Schwab Advisor Services for custody and compliance services to independent advisors. Significant overlap in technology platforms, advisory solutions, and retirement plan services.
• Interactive Brokers: Interactive Brokers is a direct competitor for active traders, RIAs, and global investors who value advanced trading infrastructure. thinkorswim, StreetSmart Pro/Edge, and Schwab Trader compete head-to-head with IBKR's Trader Workstation on pricing, product range, and professional tooling.
• Ameriprise Financial: Ameriprise offers full-service brokerage, wealth management, asset management, and retirement solutions through its advisor channel. Competes with Schwab's wealth advisory services for mass-affluent and HNW clients, with overlapping product suites.
• Morgan Stanley Wealth Management: Morgan Stanley acquired E*TRADE and operates a major brokerage, RIA custody, and workplace retirement platform that competes for the same retail and advisor segments as Schwab. Strong overlap in self-directed trading, advisor custody, and bank-brokerage integration, particularly after the E*TRADE acquisition.
• Vanguard: Vanguard competes most directly with Schwab on low-cost retail brokerage, proprietary ETFs/mutual funds, retirement accounts, and direct indexing-style offerings. Both are mutual structure competitors in the mass-affluent wealth management space and share the low-cost investor value proposition.
• Merrill Lynch (Bank of America): Merrill is a core competitor in mass-affluent and retail wealth management, integrated with Bank of America's deposit and lending capabilities. The integrated bank-brokerage model and dedicated advisor channel overlap directly with Schwab's wealth advisory and Bank SSB offering.

Emerging players

• Robinhood Markets: Robinhood pioneered zero-commission retail trading and competes aggressively for younger, self-directed investors. While its product suite and customer base are narrower than Schwab, it pressures fees in retail brokerage and targets the Gen Z/Millennial segments Schwab is now attempting to capture via the Teen Investor Account.

Broad incumbents

• JPMorgan Chase (J.P. Morgan Wealth Management): J.P. Morgan Chase's wealth management division competes with Schwab across retail brokerage, advisor services, private banking, and workplace retirement. As a broader incumbent with deeper advisory and capital markets capabilities, it competes for the upper-mass-affluent and HNW segments where Schwab is pushing via Schwab Wealth Advisory and Family Wealth Alliance.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CharlesSchwab
• YouTubeyoutube.com/@CharlesSchwab
• Facebookfacebook.com/CharlesSchwab
• LinkedInlinkedin.com/company/charles-schwab
• Instagraminstagram.com/charlesschwab

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments2 records

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

Frequently asked questions about The Charles Schwab Corp