Press Releases

5/26/20 1:15 pm PDT
The Charles Schwab Corporation announced today that it has completed its acquisition of the assets of USAA’s Investment Management Company and has transitioned the underlying brokerage and managed portfolio accounts to Schwab. As announced in July 2019, the companies have also entered into a long-term referral agreement that makes Schwab the exclusive provider of wealth management and investment brokerage services for USAA members. Schwab’s commitment to putting clients first, serving their more...
5/21/20 3:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services™ announced Schwab Advisor Portfolio Connect, Schwab’s simplified, scalable portfolio management tool, has surpassed 1,000 independent advisor firm users, solidifying its position as a top portfolio management solution for independent advisors. Since Portfolio Connect became broadly available in early 2019, independent investment advisors have rapidly adopted the solution into their firms. Adoption to date has been by smaller to mid-size more...
5/14/20 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of April 2020 include: Core net new assets brought to the company by new and existing clients totaled $15.3 billion. Net new assets excluding mutual fund clearing totaled $14.4 billion. These flows reflect the extension of the federal income tax filing due date from April 15 to July 15. Total client assets were $3.78 trillion as of month-end April, up more...
5/12/20 2:54 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a semi-annual dividend on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A in the amount of $35 per share. The dividend is payable August 3, 2020 to stockholders of record at the close of business on July 17, 2020. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices more...
5/7/20 1:15 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation (“Schwab”) today announced that it has entered into an asset purchase agreement to acquire the technology and intellectual property of Motif in an all cash transaction. Motif is a fintech pioneer that has combined breakthrough technology and data science to deliver customized thematic portfolios to investors. The acquisition will include all of Motif’s technology and intellectual property, including algorithms, patents and source more...
5/5/20 5:30 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--In its latest move to simplify and democratize investing, Charles Schwab today announced plans to introduce Schwab Stock Slices™, a new service that enables investors to own any of America’s leading companies from the S&P 500 for as little as $5 each, even if their shares cost more. Using the new service, which will launch to clients on June 9, investors can purchase a single stock slice or up to 10 different Stock Slices™ at once, commission-free – just more...
5/1/20 2:00 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, Inc. (CSIM), an asset management arm of The Charles Schwab Corporation, recently announced forthcoming changes to the Schwab U.S. REIT ETF (SCHH). Beginning on or about June 22, 2020, the index that SCHH seeks to track will migrate from the Dow Jones U.S. Select REIT Index to the Dow Jones Equity All REIT Capped Index. As a result, the investment strategy for the ETF will be modified to reflect its intent to track the more...
4/22/20 1:58 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.18 per common share. The dividend is payable May 22, 2020 to stockholders of record as of the close of business on May 8, 2020. In addition, the Board of Directors also declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, in the amount of $15.00 per share or $0.375 per more...
4/16/20 6:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Today Charles Schwab announced agreements with Intuit (maker of QuickBooks, TurboTax and Mint), eMoney Advisor (a financial planning software provider), and Envestnet | Yodlee (a leading financial data aggregation and analytics platform), to use Schwab’s “API” (application programming interface) connections. The use of APIs are a best practice in the industry and take a token-based approach which enables clients to authorize third parties to download requested more...
4/15/20 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that its net income for the first quarter of 2020 was $795 million, down 7% from $852 million for the prior quarter, and down 18% from $964 million for the first quarter of 2019. The company’s financial results for the first quarter include acquisition-related expenses described below, as well as expenses totaling approximately $27 million, or $.02 per share, relating to certain actions taken in response to the more...
4/9/20 4:30 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab has again received the highest ranking among DIY investors in overall satisfaction nationwide in the J.D. Power 2020 U.S. Self-Directed Investor Satisfaction Study. With an index score of 817 on a 1,000-point scale, Schwab scored 31 points above the overall satisfaction industry average, and received the highest scores in the areas of firm interaction, account information, commissions and fees, product offerings and information resources. The firm more...
4/7/20 1:00 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that it has scheduled a Spring Business Update for institutional investors on Tuesday, April 21st. This Update, which will be held via webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from 8:00 a.m. - 9:00 a.m. PT, 11:00 a.m. - 12:00 p.m. ET. Participants will include Walt Bettinger, more...
3/13/20 5:45 am PDT
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of February 2020 include: Core net new assets brought to the company by new and existing clients totaled $24.4 billion. Net new assets excluding mutual fund clearing totaled $24.0 billion. Total client assets were $3.86 trillion as of month-end February, up 9% from February 2019 and down 5% compared to January 2020. Client cash as a percentage of assets was 12.0% as of month-end more...
3/6/20 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, Inc. (CSIM) announced today that its Schwab Fundamental US Large Company Index Fund (SFLNX) has won a 2020 US Refinitiv Lipper Fund Award for outstanding fund performance. The annual Refinitiv Lipper Fund Awards recognize funds and fund management companies that excel in delivering consistently strong, risk-adjusted performance relative to their peers. SFLNX was named best-in-class among 87 large-cap value funds for the more...
3/5/20 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services announced today the launch of Virtual Practice Management (VPM), on-demand content and programs designed to help independent investment advisors who custody with Schwab reach toward their strategic goals. VPM programs deliver guidance at the convenience of the advisor and are supplemented with opportunities to work with Schwab consultants and connect with other advisors. “We are committed to ensuring firms of all sizes continue to more...
3/4/20 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--According to Charles Schwab’s SDBA Indicators Report, an industry-leading benchmark on retirement plan participant investment activity within self-directed brokerage accounts (SDBAs), the average account balance across all participant accounts finished 2019 at $294,105, a 19% increase year-over-year and a 6% increase from Q3 2019. SDBAs are brokerage accounts within retirement plans, including 401(k)s and other types of retirement plans, which participants can more...
2/27/20 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab announced today its role in the $375 million conversion of Private College 529 Plan, a unique college savings program collectively owned by nearly 300 private colleges and universities nationwide. As of February 10, approximately 65% of the plan’s portfolio – or $240 million – has been invested in low-cost cap-weighted index funds managed by Charles Schwab Investment Management (CSIM). In addition, Charles Schwab Trust Bank has been named as more...
2/24/20 1:15 pm PST
SAN FRANCISCO & NAPLES, Fla.--(BUSINESS WIRE)--The Charles Schwab Corporation (“Schwab”) today announced that it has entered into a definitive agreement to acquire Wasmer, Schroeder & Company, LLC (“Wasmer Schroeder”) in an all cash purchase. Wasmer Schroeder is a leading independent investment manager of fixed income separately managed accounts with $10.5 billion in assets under management1. Wasmer Schroeder offers a comprehensive lineup of tax exempt and taxable strategies with more...
2/14/20 5:45 am PST
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of January 2020 include: Core net new assets brought to the company by new and existing clients totaled $20.9 billion. Net new assets excluding mutual fund clearing totaled $19.4 billion. Total client assets were $4.05 trillion as of month-end January, up 18% from January 2019 and flat compared to December 2019. New brokerage accounts were 167,000 in January, up 27% from January more...
2/10/20 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab released new research today that provides insights into people at a unique point in their financial lives: those who are within five years of retirement. The findings show that these pre-retirees are nearly as anxious about what the future looks like as the present, with 65% feeling overwhelmed by saving enough now for retirement and 52% feeling overwhelmed by how they will ultimately manage their different income sources once they take the leap more...
2/7/20 3:31 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--On the heels of the company’s annual Winter Business Update on February 4, 2020, Schwab Advisor ServicesTM today announced reaffirmation of its decades-long commitment to providing world-class custodial services to independent advisors. A leading custodian to advisor firms of every size, Schwab also asserted its dedication to serving firms on the smaller end of the continuum. Charles Schwab CEO Walt Bettinger emphasized the company’s commitment to the RIA more...
2/5/20 3:00 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Foundation and Boys & Girls Clubs of San Francisco today announced Kionna F., from the Sunnydale Clubhouse, as the 2020 Citywide Youth of the Year. As the San Francisco Citywide Youth of the Year, Kionna will receive a $10,000 college scholarship and continue on to compete in Boys & Girls Clubs of America’s California Youth of the Year competition. “I’d like to congratulate Kionna as this year’s San Francisco Citywide Youth of the Year more...
1/29/20 2:47 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation at its meeting today declared a 1 cent, or 6%, increase in the quarterly cash dividend to $0.18 per common share. The dividend is payable February 28, 2020 to stockholders of record at the close of business on February 14, 2020. Chairman Charles Schwab commented, “This dividend increase reflects the Board’s confidence in our ability to continue to deliver consistent earnings and cash flow as we pursue more...
1/22/20 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Schwab CharitableTM, one of the largest national providers of donor-advised funds and other philanthropic services, reported a new granting record in 2019 with donors recommending over $2.7 billion in grants to charity. This is a 26% increase in dollars granted compared to 2018 and nearly double the amount granted to charities in 2016. Donors supported 89,400 charities in 2019 with more than 600,000 grants. This marks a 24% increase in the number of grants from more...
1/21/20 2:01 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation has been named as one of Fortune magazine’s top 50 World's Most Admired Companies for the third consecutive year, finishing in the 37th spot. In the annual survey, which ranks some of the world’s largest companies based on a number of attributes related to corporate reputation and financial performance, Schwab also earned the top spot in the innovation, use of corporate assets and quality of management categories in the Securities more...
1/21/20 1:00 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The company has scheduled a Business Update for institutional investors on Tuesday, February 4, 2020. The Update is scheduled to run from approximately 8:30 a.m. - 1:00 p.m. PT, 11:30 a.m. - 4:00 p.m. ET and is part of an ongoing series designed to help the investment community keep abreast of recent developments and management’s strategic focus. Participants will include members of the company’s executive management. A simultaneous webcast of this Update will more...
1/16/20 5:45 am PST
The Charles Schwab Corporation announced today that its net income for the fourth quarter of 2019 was $852 million, down 9% from $935 million for the fourth quarter of 2018. Net income for the twelve months ended December 31, 2019 was a record $3.7 billion, up 6% year-over-year. The company’s financial results for the fourth quarter and full-year 2019 include acquisition-related expenses and severance charges described below.     Three Months Ended December 31 more...
1/9/20 5:30 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab today announced the availability of Schwab Intelligent Income, an income solution designed for people who want a simple, modern way to pay themselves from their investment portfolios. Schwab Intelligent Income helps answer critical and often complex income-related questions about how much to withdraw, how to invest based on individual goals and time horizon, and how to withdraw from a combination of taxable, non-taxable, and Roth accounts in a tax more...
12/19/19 5:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management (CSIM), an asset management arm of The Charles Schwab Corporation, announced today there will be no capital gains distributions for the 2019 tax year by any of the 25 exchange-traded funds (ETFs) in the Schwab ETF family. Since the inception of the very first Schwab ETFs 10 years ago, CSIM has paid zero capital gains on its entire ETF lineup. Schwab is the only ETF provider among the current top 10 to have never paid any ETF more...
12/18/19 5:30 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab today announced the upcoming launch of Schwab Intelligent Income, an income solution designed for people who want a simple, modern way to pay themselves in retirement, or any other time, from their investment portfolios. Schwab Intelligent Income will help answer critical and often complex income-related questions about how much to withdraw, how to invest based on individual goals and time horizon, and how to withdraw from a combination of taxable more...
12/13/19 5:45 am PST
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of November 2019 include: Core net new assets brought to the company by new and existing clients totaled $12.0 billion. Net new assets excluding mutual fund clearing totaled $14.5 billion. Total client assets were $3.94 trillion as of month-end November, up 15% from November 2018 and up 2% compared to October 2019. Average interest-earning assets on the company’s balance sheet more...
12/11/19 1:30 pm PST
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation has declared a semi-annual dividend on the outstanding Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A in the amount of $35 per share. The dividend is payable February 3, 2020 to stockholders of record at the close of business on January 17, 2020. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 365 more...
12/6/19 5:45 am PST
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab today announced that Tom Bradley, who formerly served as president of TD Ameritrade’s Retail and Institutional businesses, will join its Advisor Services business as Senior Vice President, effective January 13, 2020. In this role, Bradley, who left TD Ameritrade in September 2017, will oversee the Core segment of Schwab’s advisor business, which provides custodial support services customized to independent Registered Investment Advisors with up to more...
12/4/19 6:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--According to Charles Schwab’s SDBA Indicators ReportTM , an industry-leading benchmark on retirement plan participant investment activity within self-directed brokerage accounts (SDBAs), Millennials allocated a larger percentage of their portfolios to ETFs and cash than did other generations during the third quarter of 2019, while mutual funds remained the largest holding in the accounts of all generations and Apple the top overall equity holding. SDBAs are more...
11/25/19 3:00 am PST
SAN FRANCISCO & OMAHA, Neb.--(BUSINESS WIRE)--The Charles Schwab Corporation (“Schwab”) and TD Ameritrade Holding Corporation (“TD Ameritrade”) today announced that they have entered into a definitive agreement for Schwab to acquire TD Ameritrade in an all-stock transaction valued at approximately $26 billion. Under the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share, which represents a 17% premium over the 30-day volume weighted average more...
11/14/19 5:45 am PST
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2019 include: Core net new assets brought to the company by new and existing clients totaled $24.1 billion. Net new assets excluding mutual fund clearing totaled $22.6 billion. Total client assets were a record $3.85 trillion as of month-end October, up 14% from October 2018 and up 2% compared to September 2019. New brokerage accounts were 142,000 in October, up 7% from more...
11/13/19 7:00 am PST
SAN FRANCISCO--(BUSINESS WIRE)--According to new research from Schwab Stock Plan Services, the average vested value of U.S. workers’ equity compensation is $97,711 and the average total value of their equity compensation is $149,835. The study, which examines the attitudes and behaviors of 1,000 equity compensation plan participants who currently receive incentive stock options or restricted stock awards and/or participate in employee stock purchase plans (ESPPs), finds that 41% of more...
11/5/19 9:30 am PST
SAN DIEGO--(BUSINESS WIRE)--This morning from the mainstage at Schwab’s annual IMPACT® conference, Bernie Clark, executive vice president and head of Schwab Advisor Services, pointed to the $5 trillion independent advice industry and applauded the more than 2,200 advisor clients in attendance, saying, “you being all in on independence has made this industry what it is.” He celebrated the remarkable growth of the independent model and echoed the “All In” theme of this year’s event. Clark more...
11/4/19 4:30 pm PST
SAN DIEGO--(BUSINESS WIRE)--Schwab Advisor Services™ announced the recipients of the 14th annual IMPACT Awards® for independent investment advisor firms. Four firms are being recognized today at Schwab IMPACT®, the largest and longest-running annual gathering of independent advisors in the nation. The winning firms for 2019 are: Sequoia Financial Group, LLC; AdvicePeriod, LLC; Moisand Fitzgerald Tamayo, LLC; and PCS Retirement, LLC. The IMPACT Awards are given each year to firms that have more...
10/24/19 5:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services today introduced the Schwab Alternative Investment Marketplace™ platform, which gives Schwab’s independent advisor clients access to third-party platform sponsors that offer menus of private funds. The new platform delivers a number of benefits for independent advisors, including removal of custodial fees, streamlined capital call processing, and access to third-party alternative investment funds. “We continually listen to what advisors more...
10/23/19 1:55 pm PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.17 per common share. The dividend is payable November 22, 2019 to stockholders of record as of the close of business on November 8, 2019. In addition, the Board of Directors also declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series C, in the amount of $15.00 per share or $ more...
10/22/19 5:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services™ today announced keynote speakers and new features coming to IMPACT® 2019, the largest and longest-running annual gathering of independent advisors in the nation. More than 2,200 independent advisors from across the country, along with hundreds of industry professionals, will gather at the San Diego Convention Center from November 4-7. Keynote speakers will include former U.S. Under Secretary of State for Political Affairs Nicholas more...
10/15/19 5:45 am PDT
The Charles Schwab Corporation announced today that its net income for the third quarter of 2019 was $951 million, up 3% from $923 million for the third quarter of 2018. Net income for the nine months ended September 30, 2019 was $2.9 billion, up 11% from the year-earlier period. The company’s financial results for the third quarter and first nine months of 2019 include severance charges described below.     Three Months Ended September 30,   %   Nine Months Ended more...
10/4/19 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation announced today that it has scheduled a Fall Business Update for institutional investors on Friday, October 18th. This Update, which will be held via webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from 8:00 a.m. - 9:00 a.m. PT, 11:00 a.m. - 12:00 p.m. ET. Participants will include Walt Bettinger, more...
10/3/19 5:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, Inc. (CSIM), an asset management arm of The Charles Schwab Corporation, is launching three new fixed income exchange-traded funds (ETFs). The new fixed income ETFs, whose 0.06% operating expense ratios (OERs) are among the lowest in their respective projected Morningstar categories, will begin trading on October 10, 2019. The three funds are: Ticker Fund Name Benchmark Index OER   SCHJ Schwab more...
10/2/19 5:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor ServicesTM announced it is redoubling its effort to raise awareness among investors of the merits of the independent advisory model through its ongoing “Independent Difference” national advertising and educational campaign. The multi-format campaign showcases independent investment advisors from around the country and targets high-net-worth investors with a message about how the RIA model is closely aligned with the needs of high-net-worth more...
10/1/19 5:45 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Almost forty five years ago, Chuck Schwab made investing more accessible to all Americans with the concept of low commissions to buy and sell stocks. On October 7, 2019, in conjunction with the release of Mr. Schwab’s latest book, “Invested,” Charles Schwab & Co., Inc. is removing the final barrier to making investing accessible to everyone by eliminating commissions for stocks, ETFs and options listed on U.S. or Canadian exchanges, across all mobile and web more...
9/23/19 5:00 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Advisors say being easily influenced by recent news, playing it overly safe and seeking information that reinforces established perceptions are the most common behavioral biases that impact their clients’ investing decisions. These are findings from the BeFi Barometer 2019 survey, new research sponsored by Charles Schwab Investment Management, Inc. (CSIM) in collaboration with the Investments & Wealth Institute and Cerulli Associates. “Recognizing more...
9/16/19 5:45 am PDT
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of August 2019 include: Core net new assets brought to the company by new and existing clients totaled $19.9 billion. Net new assets excluding mutual fund clearing totaled $17.7 billion. Total client assets were $3.72 trillion as of month-end August, up 5% from August 2018 and down 1% compared to July 2019. Average interest-earning assets on the company’s balance sheet were $265.0 more...
9/10/19 8:30 am PDT
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services today announced enhancements to Institutional Intelligent Portfolios®, including an account conversion feature allowing independent investment advisors easier ways to transfer investor clients’ existing Charles Schwab brokerage accounts to advisor-branded automated investment accounts. The entirely paperless process makes it simpler than ever for advisors to incorporate automated investing into their practices while freeing more time to more...

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