Schwab Charitable Fund
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| Public company | |
| Traded as | : SCHW S&P 500 Component |
| Industry | Financial services |
| Founded | April 1971 (as First Commander Corporation) |
| Founder | Charles Schwab |
| Headquarters | San Francisco, California, U.S. |
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Number of locations
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335 branches |
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Key people
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Charles Schwab (Chairman) Walt Bettinger (President and CEO) |
| Services | Brokerage firm |
| Revenue |
 US$7.478 billion (2016) |
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US$1.889 billion (2016) |
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| Total assets |
US$223.383 billion (2016) |
| Total equity |
US$16.421 billion (2016) |
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Number of employees
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16,200 |
| Website | www |
The Charles Schwab Corporation is a bank and brokerage firm, based in San Francisco, California. It was founded in 1971 by Charles R. Schwab. It is on the list of largest banks in the United States and is one of the largest brokerage firms in the United States. The company provides services for individuals and institutions that are investing online. The company offers an electronic trading platform for the purchase and sale of financial securities including , , futures contracts, exchange-traded funds, options, mutual funds, and fixed income investments. It also provides margin lending, and cash management services. The company also provides services through registered investment advisers.
Schwab operates in four main divisions: investing, wealth management, banking, and trading. As of December 31, 2016, the company had 10.155 million active client brokerage accounts, with $2.779 trillion in assets. The company operated 335 branches in 46 states, as well as a branch in each of Puerto Rico and London.
In 1963, Charles R. Schwab and two other partners launched Investment Indicator, an investment newsletter. At its height, the newsletter had 3,000 subscribers, each paying $84 a year to subscribe. In April 1971, the firm was incorporated in California as First Commander Corporation, a wholly owned subsidiary of Commander Industries, Inc., for traditional brokerage services and to publish the Schwab investment newsletter. In November of that year, Mr. Schwab and four others purchased all the stock from Commander Industries, Inc., and in 1972, Mr. Schwab bought all the stock from what was once Commander Industries. In 1973, the company name changed to Charles Schwab & Co., Inc.
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