Charles Schwab (SCHW) is a financial services company that operates through various subsidiaries to provide asset management, 澳洲幸运5官方开奖结果体彩网:discount brokerage, banking, and advisory services.

Its closest competitors in the discount brokerage sector include Fidelity and Interactive Brokers. Schwab's 澳洲幸运5官方开奖结果体彩网:asset management and advisory services pit it against firms such as Goldm𝐆an Sachs. Its mutual fund offerings are increasingly competitive on cost versus well-known players like Vanguard.

Charles Schwab: An Overview

In its early days, Charles Schwab gained prominence as one of the world's first and leading 澳洲幸运5官方开奖结果体彩网:discount broker services, and this segment remains a large part of the company's business. The company continues to offer a full array of brokerage services through its 澳洲幸运5官方开奖结果体彩网:subsidiary, Charles Schwab & Co. It also operates Schwab Bank, a federal savings bank in Reno, Nevada, established in 2003.

Schwab also manages a line of mutual funds and 澳洲幸运5官方开奖结果体彩网:exchange-traded funds (ETFs). These funds can be purchased through any accounts Schwab offers, including brokerage accounts, 澳洲幸运5官方开奖结﷽果体彩网:individual retirement accounts (IRAs), or 澳洲幸运5官方开奖结果体彩网:529 college savings accounts. Schwab serves customers over the phone, online, or in branch offices.

The financial institution expanded aggressively into asset management and investment advisory services. In 2020, Charles Schwab acquired TD Ameritrade, adding approximately 12 million client accounts, $1.3 trillion in client assets, and $5 billion in annual revenue. As of Agugust 2024, Schwab held $9.57 trillion in 澳洲幸运5官方开奖结果体彩网:assets under management (AUM). Some of its other notable figures include:

• 35.7 million active brokerage accounts
• 5.4 million corporate retirement plan participants
• 1.9 million banking accounts

The company reported annual net revenue of $18.8 billion and net income of $5 billion for 澳洲幸运5官方开奖结果体彩网:fiscal year 2023.

Charles Schwab: Assets Under Management

Schwab leads its 🧸competitors in total client AUM. The company holds $7.3ꦜ8 trillion in assets compared to its competitors:

• Fidelity, which manages $10.3 trillion
• 澳洲幸运5官方开奖结果体彩网:Interactive Brokers, which has $11.6 billion in equity capital
• 澳洲幸运5官方开奖结果体彩网:Goldman Sachs reports assets under supervision, which includes AUM. As of the end of 2022, the financial services company reported more than $2 trillion in AUS, significantly less than Charles Schwab. While Goldman doesn't offer discount brokerage services, it does compete with Schwab in banking and advisory services.

Charles Schwab: Mutual Funds and ETFs

Schwab offers clients over 3,000 ETFs, and thousands of OneSource mutual funds, which carry no loads and transaction fees.

By contrast:

• Fidelity offers clients more than 400 ETFs (Fidelity and iShares) and over 10,000 mutual funds
• Interactive Brokers provides access to more than 43,000 mutual funds

Charles Schwab: Research

Through Schwab, customers gain access to free stock reports from experts and third parties, including 澳洲幸运5官方开奖结果体彩网:Morningstar and Argus. Fidelity also offers a suite of research tools with high-quality research. TD Ameritrade offers the largest selection of independent, third-party investment research from several firms, such as Morningstar and 澳洲幸运5官方开奖结果体彩网:Standard & Poor's (S&P). Clients of Interactive Brokers can also acces💦s free and p🎃aid research services.

The Bottom Line

Charles Schwab is one of the world's largest 澳洲幸运5官方开奖结果体彩网:discount brokerage firms. It provides a range of proꦏducts and services to its clients and remains one of the most competitive in the market.ꦜ Its move to cut commissions from certain trades for products like stocks and ETFs led others to follow suit. Charles Schwab continues to lead the industry, with more than $7.38 trillion in assets under management.

Correction—May 1, 2023: The article was amended to remove TD Ameritrade as a direct competitor of Charles Schwab following the acquisition of TD Ameritrade by Charles Schwab in 2020.