Charles Schwab

What it is

Charles Schwab is one of the largest brokerage and financial services firms in the United States. The company was founded in 1971 by Charles R. Schwab as a discount brokerage, built on the idea that individual investors could trade for themselves at a lower cost than the full-service brokers of the era. It is a publicly traded company listed on the New York Stock Exchange under the ticker SCHW.

The firm is headquartered in Westlake, Texas, after relocating from San Francisco in 2021. In 2020, Schwab completed its acquisition of TD Ameritrade, combining two of the biggest names in US retail brokerage. Client accounts and assets were transitioned onto Schwab's platform through 2023 and 2024. The thinkorswim trading platform, originally developed at TD Ameritrade, came over with that deal and is now offered as part of Schwab's lineup.

Beyond brokerage, Schwab operates banking and wealth-management businesses, including Charles Schwab Bank. The company publishes market research and commentary and runs a large education operation covering investing basics, retirement planning, and portfolio construction.

Who it serves

Schwab's core audience is the self-directed individual investor: people who want to buy and sell stocks, bonds, mutual funds, and ETFs through their own accounts and make their own decisions. The firm's platforms, from its standard website and mobile app to the thinkorswim platform aimed at active traders, are designed to let these investors research, trade, and track portfolios on their own terms.

A second major client base is independent registered investment advisers. Through Schwab Advisor Services, the firm provides custody, trading, and technology support to thousands of independent advisory practices across the US. Advisers using the platform handle custody, trading, and reporting through Schwab while maintaining their own independent practices.

Schwab's research, articles, and educational content are written for investors at many experience levels, from beginners opening a first brokerage account to experienced traders using advanced platforms. The company's size also makes it a frequent source of data and commentary on retail investor behavior in the US market, with its strategists regularly quoted on portfolio trends and investor sentiment.

Accounts and platforms

Schwab offers individual and joint taxable brokerage accounts, along with retirement accounts including Traditional and Roth IRAs, SEP and SIMPLE IRAs for small businesses, and employer-sponsored plans. Custodial accounts for minors, education savings accounts, and trust accounts are also available. Banking services, including checking and savings products, are offered through Charles Schwab Bank and can be linked to brokerage accounts.

On the platform side, clients can trade and manage accounts through Schwab's website and mobile app. Thinkorswim, the professional-grade desktop and mobile platform inherited from TD Ameritrade, is aimed at active traders and offers advanced charting, screening, and options analysis tools. Schwab also provides market research from its own strategists as well as third-party research, plus screeners for stocks, ETFs, mutual funds, and bonds.

Account holders can hold a wide range of securities, including stocks, ETFs, mutual funds, bonds, and options. The firm's platforms support features commonly expected of a full-service retail brokerage, such as dividend reinvestment, recurring investments, and consolidated statements across accounts.

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