Charles Schwab Corporation Is An American Multinational Financial Services Company. It Provides Banking, Commercial Banking, Investment, And Related Services, Including Advisory And Wealth Management Advisory Services, To Retail And Institutional Clients. It Has More Than 380 Branches, Primarily Located In Financial Centers In The United States And The United Kingdom. It Is On The List Of The Largest Banks In The United States By Assets. As Of December 31, 2023, It Had $8.50 Trillion In Client Assets, 34.80 Million Active Brokerage Accounts, 5.20 Million Corporate Retirement Plan Participants, And 1.80 Million Bank Accounts. It Also Provides A Donor Advice Fund For Clients Seeking To Donate Securities. It Was Founded In San Francisco, California, And Is Headquartered In Westlake, Texas.

Founded By Charles R. Schwab In 1971 As First Commander Corporation, It Was Only A Publisher Of Local Brokers And Investment Newsletters. In 1973, It Was Changed To Its Current Name ("Schwab" Is The Official Chinese Name Of The Company). The Company Started Its Discount Brokerage Business On May 1, 1975 And Later Became One Of The Largest Discount Brokers In The World.

Schwab Is Currently The Largest Online Brokerage In The United States, With Assets Under Management Of $6 Trillion, A Company Market Capitalization Of $54.70 Billion, And Approximately 28 Million Active Brokerage Accounts.

Beginning October 7, 2019, Charles Schwab Will Eliminate Trading Commissions On U.S. And Canadian-listed Stocks, ETFs, And Options.

On July 1, 2020, Charles Schwab Acquired Wasmer, Schroeder & Company, A Fixed Income Independent Investment Manager With Independently Managed Accounts, Managing $10.70 Billion In Assets.

On May 26, 2020, Charles Schwab Acquired USAA's Investment Management Accounts For $1.80 Billion In Cash.

On November 26, 2019, Charles Schwab Acquired TD Ameritrade Securities (TD Ameritrade) In A Full-share Exchange. Each TD Ameritrade Security Can Be Exchanged For 1.0837 Charles Schwab Shares, Equivalent To $52.23 Per Share, And The Amount Involved Is $26 Billion. After The Acquisition Is Completed, The New Company Will Have 28 Million Customers And The Total Value Of Customer Assets Under Management Will Reach $6 Trillion. The Original Shareholders Of Charles Schwab Hold 69% Of The Shares Of The New Company, And De Ameritrade Holds 31%. Toronto Dominion Bank, Which Currently Owns 42.7% Of TD Ameritrade's Shares, Will Hold 13% Of The New Company.

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