Charles Schwab Corp
schwab.comWhat Do They Do?
Provides brokerage, investment advice, and banking services to individual investors, businesses, and independent investment advisors.
10-K for FY2025, filed Feb 25, 2026Schwab provides financial services to individuals and institutional clients through two segments – Investor Services and Advisor Services.…View ↗
Brokerage – an array of full-feature brokerage accounts with equity and fixed income trading, margin lending, options trading, futures and…View ↗
More than thirty years ago, Schwab supported a small group of entrepreneurial advisors who challenged the industry by creating independent…View ↗
How Do They Make Money?
Investor Services and Advisor Services earn interest on client cash and loans, fees tied to funds and managed portfolios, trading commissions and payments from trading venues, and fees for swept cash. Asset-based and swept-cash fees are collected monthly or quarterly, while commissions arrive when trades settle.
10-K for FY2025, filed Feb 25, 2026These investing products and services are made available through two business segments – Investor Services and Advisor Services. Schwab’s…View ↗
Schwab’s largest sources of net revenues are net interest revenue, asset management and administration fees, trading revenue, and bank…View ↗
Net interest revenue is not within the scope of Accounting Standards Codification (ASC) 606 Revenue From Contracts With Customers (ASC…View ↗
The majority of asset management and administration fees are generated through our proprietary and third-party mutual fund and ETF…View ↗
Trading revenue is primarily generated through commissions earned for executing trades for clients in individual equities, options, fixed…View ↗
Bank deposit account fees consist of revenues resulting from sweep programs offered to certain clients whereby uninvested client cash is…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$23.9B
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10-K for FY2025, filed Feb 25, 2026
$23.9B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Investor Services
|
79%
FY2022: 76%
|
Investor Services, FY2025
$19B Sources
|
|
Advisor Services
|
21%
FY2022: 24%
|
Advisor Services, FY2025
$4.9B Sources
|
Who Are Their Customers?
Individual investors use Schwab's online, mobile, telephone, and branch channels. Employers and retirement plan sponsors use workplace services, often alongside independent plan providers; independent investment advisors and retirement recordkeepers use custody, trading, banking, and support services.
10-K for FY2025, filed Feb 25, 2026Schwab provides financial services to individuals and institutional clients through two segments – Investor Services and Advisor Services.…View ↗
Through the Retail Investor business unit, Schwab serves a broad spectrum of individual investors, ranging from those just beginning their…View ↗
Workplace Services includes Retirement Plan Services, Retirement Business Services, Stock Plan Services, and Designated Brokerage Services.…View ↗
Retirement Business Services provides trust, custody, and software services to independent retirement plan advisors and independent…View ↗
More than thirty years ago, Schwab supported a small group of entrepreneurial advisors who challenged the industry by creating independent…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 37 cents of every revenue dollar as net income in FY2025 and turned 37 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Mar 2, 2026
Completed acquisition of Forge Global
Forge provides eligible investors direct and indirect access to pre-IPO company shares; Schwab plans to introduce its products to more individual investors and independent advisors.
Sources
8-K, filed Mar 2, 2026
WESTLAKE, Texas, March 2, 2026 – The Charles Schwab Corporation (Schwab) today announced that it has completed its acquisition of Forge…View ↗
Growing. Revenue grew 29% in 4 years, from $18.5B in FY2021 to $23.9B in FY2025, about 7% a year.
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