Charles (“Chuck”) Schwab started the Charles Schwab Corporation in 1971 as a traditional brokerage company and in 1974 became a pioneer in the discount brokerage business. In 1975, after a Securities and Exchange Commission mandate deregulated trading commissions, Chuck established a series of radically different policies, including cutting the charges to his customers in half compared to his competitors. He was known for offering a combination of low prices with fast, efficient order executions and soon became the nation’s largest discount broker. Today, Charles Schwab Corporation is the nation’s largest publicly traded investment services firm with around $2.83 trillion in client assets.
Schwab lowers the cost of investing
Bernie Clark, EVP and Head of Charles Schwab Advisor Services, announced that in an effort to put advisors and their clients first, Schwab is now lowering the cost of investing. Schwab made this change to not only help advisors better serve their clients but so advisors can be the best fiduciary possible.
Beginning on February 3, 2017, Schwab is reducing the standard online commission pricing for equities and exchange-traded funds (ETFs) to $6.951 per trade. The rate for households with under $1 million with Schwab and not using e-delivery will be lowered to $12.95 per trade. Schwab is also lowering the costs of some of their mutual funds and eliminating some investment minimums.
The combination of lower costs, enhancements in technology, seamless customer service, and true open architecture are just some of the reasons why we chose Charles Schwab as our Broker Dealer/Custodian.
Independent Investment Advisors are not owned by, affiliated with, or supervised by Schwab.
Schwab Advisor Services serves independent investment advisors and includes the custody, trading, and support services of Schwab.