Charles Schwab and Co., Inc. is the world’s largest discount brokerage firm. It pioneered much of what is today referred to as discount brokering, although competitors have overtaken Schwab in low commissions. Schwab has meanwhile moved toward more traditional brokerage practices in certain ways, offering customers higher-value services for higher costs. In this regard Schwab has followed the path that Merrill Lynch blazed decades previously. It marketed itself as a brokerage firm for the common man, and then became more. As its clients have become older and wealthier, Schwab has become more of a traditional brokerage firm.
Schwab has over 7 million clients and more than 16,000 employees in 300 offices nationwide.
Charles Schwab reached a settlement with the SEC over charges that it allowed favored clients to trade after-hours.To Learn More