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Schwab Introduces Free Digital Financial Planning for Clients Seeking to Manage Their Retirement Goals


Launch of Schwab PlanTM Gives All Schwab Clients a Modern Way to Access a Personalized Financial Plan Regardless of Asset Level

SAN FRANCISCO--(BUSINESS WIRE)-- As part of its ongoing commitment to democratize access to investing and financial planning, Charles Schwab today announced the launch of Schwab Plan, a free digital financial plan designed to help investors establish and stay on track toward their personalized retirement goals. Schwab Plan is available to all Schwab clients with no minimum asset requirement, significantly expanding access to retirement planning to the millions of retail investors that Charles Schwab serves. With this move, Schwab is now the only large retail brokerage to offer complimentary financial planning to all clients, combined with no account minimums for individual investors1, zero commission online equity, option and ETF trades2, and a Satisfaction Guarantee3.

“Saving and investing for retirement continues to be the most vital goal for investors of all ages, and a plan provides a path that helps people retire the way they want,” says Stephanie King, vice president of Charles Schwab’s planning and portfolio group. “Planning gives investors more confidence about reaching their goals, and it also helps them remain focused on things like saving, portfolio diversification, and staying the course – something that is especially important given this period of uncertainty we’re all in right now.”

Schwab Plan Combines Sophisticated Planning with an Easy, Accessible Client Experience

Schwab Plan is a digital self-guided financial plan available through that helps investors build a personalized plan that includes a range of factors such as desired retirement age, retirement goals, social security expectations, portfolio risk profile and asset allocation, and various income sources.

To begin the process, clients complete a short questionnaire, and in as little as 15 minutes they are able to generate a retirement plan that shows retirement goals and probability of funding those goals, a comparison of an individual’s current asset allocation to a recommended allocation based on plan inputs, and suggested next steps to get and stay on track. Schwab Plan can also aggregate and factor in accounts held outside of Schwab. While Schwab Plan is available to clients at no cost, any investments they ultimately make may incur costs such as fund operating expenses and advisory fees.

Key additional features of Schwab Plan include:

  • Interactive planning dashboard and tools – Schwab Plan has an interactive dashboard that allows clients to model how near-term changes in their lives, such as changes to income or retirement age, can impact long-term outcomes. The planning dashboard can also be used by Schwab clients who already have a financial plan through one of the firm’s other planning services but want to model different scenarios in their financial lives.
  • Sophisticated analytics – Schwab Plan combines an easy and straightforward experience with sophisticated financial planning analytics such as probability of reaching goals calculations and Monte Carlo simulations.
  • Dynamic plan updates – Every time a client visits or makes updates to their plan, they receive an updated probability of reaching their goals to see how they are tracking against their retirement goal.
  • Access to financial professionals – All Schwab clients have access to financial professionals 24/7 via phone, email, or chat if they need help with service or general questions.

“We believe everyone, regardless of how much money they have, should have access to tools that help them take control of their financial future,” says Cynthia Loh, Charles Schwab vice president of digital advice. “But we know that not enough people have access to financial planning, whether it’s because minimums and fees are out of reach or because the planning experience is just too complicated or overwhelming. Our goal with Schwab Plan is to provide investors with a modern planning tool that is similar to what professionals use, but streamlined to make the experience easier and more accessible for people who want to get started planning on their own.”

In conjunction with the launch of Schwab Plan, Schwab has also created an online Financial Planning Hub that features an array of goals-based calculators, tools, and educational planning content to help investors get quick answers on topics such as retirement, saving for college, and buying a home. Investors can find out if they are saving enough for retirement, determine how much they can afford to withdraw in retirement, get an estimated monthly college savings goal, and plan for a home purchase using a mortgage calculator. While Schwab Plan is only for Schwab clients, the Financial Planning Hub is available to both Schwab clients and non-clients.

Schwab Plan Adds to Schwab’s Existing Suite of Digital and Face-to-Face Financial Planning Services

Schwab Plan is the latest addition to a range of financial planning services available to Schwab clients. In March 2019, Schwab, in its capacity as a registered investment advisor, introduced Schwab Intelligent Portfolios Premium, a digital subscription-based financial planning and automated investing service which provides unlimited access to a CERTIFIED FINANCIAL PLANNER™ professional, interactive planning tools, and a personalized roadmap for reaching financial goals. Schwab Intelligent Portfolios Premium charges an initial one-time $300 fee for planning and a $30 monthly subscription after that ($90 billed quarterly), which does not change at higher asset levels.

Investors who prefer a more in-depth or one-on-one planning experience can work with a Financial Consultant in a local Schwab branch. Financial Consultants can help clients determine the right planning and advisory service for their needs, including Schwab Private Client and Schwab Advisor Network, the firm’s referral program that connects investors with local independent investment advisors.

More information about Schwab Plan is available here.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 14.2 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.5 million banking accounts, and $4.3 trillion in client assets as of July 31, 2020. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at Follow us on Twitter, Facebook, YouTube and LinkedIn.


IMPORTANT: The projections or other information generated by Schwab Plan™ regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. Investing involves risk, including loss of principal.

1 Schwab has no account minimums except for Schwab One Organization and International Accounts

2 The standard online $0 commission does not apply to trades placed through a broker ($25) or by automated phone ($5). See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules. Availability may be limited, plans are subject to change, and other exclusions or conditions may apply.

3 If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc. (“Schwab”), Charles Schwab Bank (“Schwab Bank”), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern within the required time frames. Schwab reserves the right to change or terminate the guarantee at any time. Go to to learn what’s included and how it works.

Please read the Schwab Intelligent Portfolios Solutions™ disclosure brochures for important information, pricing, and disclosures related to the Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium programs. Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ are made available through Charles Schwab & Co. Inc. (“Schwab”), a dually registered investment advisor and broker dealer. Portfolio management services are provided by Charles Schwab Investment Advisory, Inc. ("CSIA"). Schwab and CSIA are subsidiaries of The Charles Schwab Corporation.

Schwab Private Client Investment Advisory, Inc. is a Registered Investment Advisor and affiliate of Charles Schwab & Co., Inc.

Schwab Advisor Network member advisors are independent and are not employees or agents of Charles Schwab & Co., Inc.

©2020 Charles Schwab & Co., Inc. (Member SIPC). All Rights Reserved.


Marianne Ahlmann
Charles Schwab

Source: The Charles Schwab Corporation

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