The Charles Schwab Corporation (CSC) is a savings and loan holding company that operates through its subsidiaries to provide a wide range of financial services, including wealth management, securities brokerage, banking, asset management, custody, and financial advisory services . Schwab's business is divided into two main segments: Investor Services and Advisor Services, offering products such as brokerage accounts, mutual funds, exchange-traded funds (ETFs), advice solutions, alternative investments, banking products, and trust services . The company's largest sources of net revenues are net interest revenue, asset management and administration fees, trading revenue, and bank deposit account fees .
- Net Interest Revenue - Generated from interest-earning assets such as high-quality fixed income securities, margin loans, and bank loans, funded by uninvested client cash balances.
- Asset Management and Administration Fees - Collected from managing and administering client assets, including mutual funds and ETFs.
- Trading Revenue - Earned from facilitating securities transactions for clients.
- Bank Deposit Account Fees - Charged for maintaining client bank deposit accounts.
- Investor Services - Offers retail brokerage, investment advisory, banking, and trust services to individual investors, as well as retirement plan services and corporate brokerage services to businesses and their employees.
- Advisor Services - Provides custodial, trading, banking, trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers.
- Brokerage Accounts - Offers platforms for clients to buy and sell securities.
- Mutual Funds and ETFs - Provides a range of investment funds for clients to diversify their portfolios.
- Advice Solutions - Delivers personalized investment advice and planning services.
- Alternative Investments - Offers investment options outside of traditional stocks and bonds.
- Banking Products - Includes a variety of banking services such as loans and deposit accounts.
- Trust Services - Provides trust administration and management services for clients.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Walter W. Bettinger II ExecutiveBoard | Co-Chairman of the Board, CEO | Trustee of Schwab-affiliated investment funds | CEO since 2008, retiring Dec. 31, 2024. Oversaw growth from $1.14T to $9.74T in client assets. Will remain as Executive Co-Chairman starting Jan. 1, 2025. | View Report → |
Jonathan M. Craig Executive | Managing Director, Head of Investor Services and Marketing | None | Joined Schwab in 2000. Leads Investor Services and Marketing. Previously Chief Marketing Officer. | |
Michael Verdeschi Executive | Managing Director, CFO | None | Appointed CFO effective Oct. 1, 2024. Previously Deputy CFO and Treasurer at Citigroup. | |
Nigel J. Murtagh Executive | Managing Director, Chief Risk Officer | None | Chief Risk Officer since 2012. Oversees risk management strategies. Joined Schwab in 2000. | |
Peter B. Crawford Executive | Managing Director, CFO | Director of Charles Schwab Investment Management, Inc. | CFO since 2017. Played a critical role in financial operations and strategic planning. Announced intent to retire, but no effective date yet. | |
Richard A. Wurster Executive | President | None | President since 2021. Appointed as CEO effective Jan. 1, 2025. Joined Schwab in 2016, previously CEO of Schwab Investment Management and other subsidiaries. | |
Arun Sarin Board | Director | Director at Accenture, Chairman at Cerence Inc., Director at Ola Electric Mobility | Director since 2009. Former CEO of Vodafone Group. Brings expertise in IT, cybersecurity, and strategic planning. | |
Carrie Schwab-Pomerantz Board | Director | Chair Emeritus of Boys & Girls Clubs of America; Board Member at Haas School of Business | Joined Schwab in 1983. Former President of Charles Schwab Foundation. Advisor to two U.S. presidential administrations on financial literacy. | |
Charles R. Schwab Board | Co-Chairman of the Board | None | Founder of Charles Schwab & Co., Inc. (1971) and director since 1986. Former CEO and Chairman. Instrumental in shaping the company into a leader in wealth management and brokerage. | |
Marianne C. Brown Board | Director | Director at Northrop Grumman, Akamai Technologies, and IBM | Joined SCHW board in 2020. Former COO at Fidelity National Information Services and SunGard Financial Systems. Extensive financial technology expertise. | |
Paula A. Sneed Board | Director | Chairman and CEO of Phelps Prescott Group | Director since 2002. Former EVP at Kraft Foods. Brings marketing and governance expertise. |
Research analysts covering SCHWAB CHARLES.
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TD Ameritrade | 2020 | **Completed acquisition by Charles Schwab on October 6, 2020. ** The deal was structured as a stock exchange where TD Ameritrade shareholders received 1.0837 shares of Schwab common stock, with approximately 586 million shares issued (509 million common and 77 million nonvoting). The provisional purchase price was about $21.758 billion, and the acquisition brought in around 29 million brokerage accounts with $6 trillion in client assets, requiring regulatory approvals and an integration expected to last 18 to 36 months. |
Recent press releases and 8-K filings for SCHW.
- 3Q25 net revenues of $6.1 billion, up 27% year-over-year
- GAAP EPS of $1.26 (+77%) and adjusted EPS of $1.31 (+70%) versus 3Q24
- Core net new assets of $137.5 billion, up 44% YoY; total client assets reached $11.59 trillion, up 17% YoY
- $2.7 billion in common stock repurchases and a $12.9 billion reduction in bank supplemental funding
- Achieved adjusted EPS of $1.31 and revenue of $6.14 billion, both above Wall Street estimates.
- Total client assets rose 17% to $11.59 trillion, driven by $137.5 billion in core net new assets.
- Trading revenue increased 25% to $995 million on strong market activity and derivative demand.
- Returned $2.7 billion to shareholders via repurchasing nearly 29 million shares.
- Client sweep cash grew by $13.5 billion, enabling a $12.9 billion reduction in higher-cost funding.
- Record revenue of $6.1 billion (27% yoy) and adjusted EPS of $1.31 (70% yoy) in 3Q 2025
- 1.1 million net new brokerage accounts and $138 billion in core net new assets in Q3 (YTD $356 billion)
- Supplemental borrowings reduced to $14.8 billion (85% below May 2023 peak) and $2.7 billion returned via share repurchases in Q3; capital ratios held above target range
- On track to launch spot crypto (Bitcoin & Ethereum) in 2026; market-implied three 25 bp rate cuts in 2025 could drive ~2% uplift in 4Q EPS vs July scenario
- Forward curve as of July 17, 2025 shows Fed Funds rate ending 2025 at 4.00%
- S&P 500 projected to appreciate ~9% from year-end 2024 levels
- FY25 Daily Average Trades (DATs) expected at ~7.2 million, reflecting a pullback from 1H25 activity
- STAX score rose to 46.12 in September from 43.69 in August, ranking “moderate low” versus historic averages
- Clients were net buyers of equities, expanding beyond the Magnificent Seven into higher-volatility, AI-adjacent stocks
- Top net purchases included NVIDIA, Amazon, Oracle, Palantir and Opendoor; top net sales were Tesla, Apple, Alibaba, Micron and Super Micro
- Inflation and labor market details matter as much as headlines; PPI maps to the Fed’s preferred PCE measure and, barring continued equity melt-up, may ease its upward pressure, though service-sector PPI could still feed into CPI.
- Tariffs are an ongoing price driver, not a one-time reset; many firms plan to pass higher input costs—and even non-tariffed costs—onto customers rather than absorb them in margins.
- Equity gains are narrow: mega caps inflate the S&P 500’s record highs, while only about 50% of tech stocks trade above their 50-day moving average and roughly 33% of S&P 500 constituents have outperformed over the past 1–3 months.
- Small-cap strength tied to Fed cut expectations, yet nearly 40% of Russell 2000 firms are unprofitable or “zombies” lacking cash flow to cover debt interest, posing fundamental risks.
- Opportunities lie outside the Magnificent 7: the S&P 500’s and Nasdaq’s top performers are small/mid caps; managers should favour higher-quality names to cushion volatility.
- OpenAI plans to release its next AI model, GPT-5, as early as next month, according to CEO Sam Altman.
- Starlink suffered one of its largest international outages for about two hours due to a software failure.
- The board of Charles Schwab approved a new $20 billion stock buyback, replacing the previous plan.
- Centene shares plunged after reporting a surprise loss of $0.16 per share versus an expected profit of $0.86.
- An HR executive at Astronomer left the firm following a publicized personal misconduct incident at a concert.
- U.S. economic growth remains resilient despite tariff uncertainty and slowing real rates, supporting the view of a steeper yield curve and a weaker dollar this year.
- Inflation and inflation expectations are trending lower, putting additional downward pressure on the short end of the curve.
- Equity markets have enjoyed a strong rebound, but heightened volatility is expected as fiscal stimulus and trade policies play out.
- Portfolio strategy favors high-quality equities (strong profitability, high free cash flow yields, dividends) and intermediate investment-grade bonds over high-yield credit.
- Net revenues rose 25% year-over-year to $5.851 billion in 2Q25.
- GAAP net income was $2.126 billion (EPS $1.08), and adjusted EPS was $1.14.
- Core net new assets totaled $80.3 billion (up 31% YoY) with over 1 million new brokerage accounts opened.
- Total client assets reached a record $10.76 trillion, up 14% YoY.
- Returned $2.8 billion of excess capital via preferred equity redemption and common share repurchases, and reduced bank supplemental funding by $10.4 billion.
- Momentum and growth factors are driving stocks toward near-record highs, with a focus on sustained and prospective earnings growth.
- Market moves reflect relative outcomes and inflection points, such as April’s tariff developments and calmer-than-feared Middle East tensions, which sparked rallies when news beat expectations.
- Retail traders, especially meme-stock and buy-the-dip participants, have left a clear imprint on the rally, prompting significant institutional short covering.
- Institutional positioning remains cautious, suggesting room for further upside if retail enthusiasm endures, but also heightening vulnerability to negative catalysts.