Charles Schwab is owned by its own shareholders as a publicly traded company on the New York Stock Exchange under the ticker SCHW, and no single person or firm controls it.
The Charles Schwab Corporation is a financial services holding company that provides brokerage, banking, wealth management and retirement services to tens of millions of clients across the United States.
Schwab began as a small discount brokerage founded in San Francisco in 1971 and grew through decades of expansion, including the 2020 purchase of TD Ameritrade, into one of the largest wealth management firms in the country, now based in Westlake, Texas.
So how does a company started by one man in a single office end up managing more than 13 trillion dollars for tens of millions of investors, and who actually controls it today?
This article looks at Schwab ownership structure, its largest shareholders, its leadership, its history of acquisitions, how much the company is worth, its retirement and investment services, and how to reach Schwab customer support.
So let us get started.
Table of Contents
Who Owns Charles Schwab
Charles Schwab is a publicly traded company, meaning its ownership is spread across institutional investors, individual shareholders and company insiders rather than held by any single owner.
Visit the official Charles Schwab website to see the full range of accounts and services the company offers.
Founder Charles R Schwab remains one of the largest individual shareholders and serves as Co Chairman of the board, giving him lasting influence even though he does not hold majority control.
The rest of the company is owned by large asset managers such as Vanguard and BlackRock, along with tens of thousands of individual retail investors who buy SCHW shares on the open market.
| Company Overview | Details |
| Company name | The Charles Schwab Corporation |
| Ownership | Publicly traded, no controlling shareholder |
| Parent company | None, independent public company |
| Founded | 1971 |
| Founder | Charles R Schwab |
| CEO | Rick Wurster |
| Headquarters | Westlake, Texas |
| Ownership type | Public |
| Stock ticker | NYSE: SCHW |
Is Charles Schwab Publicly Traded or Privately Owned
Charles Schwab is publicly traded on the New York Stock Exchange under the ticker symbol SCHW.
The company has traded as a public corporation since 1987, and its shares are bought and sold every trading day by institutions and individual investors.
As of August 2026 the company carried a market capitalization of roughly 190 billion dollars, based on a share price near 108 dollars and about 1.77 billion shares outstanding.
Institutional investors collectively own the majority of Schwab stock, but no bank, holding company or private equity firm controls the business.
Who Are the Largest Shareholders of Charles Schwab
The Vanguard Group is the largest shareholder of Charles Schwab, holding roughly 8.5 percent of outstanding shares as of the 2026 proxy filing.
Founder Charles R Schwab is the largest individual holder, controlling close to 6 percent of the company through personal, trust and family limited partnership holdings.
BlackRock, Dodge and Cox, and State Street round out the next largest institutional positions, together holding roughly 13 percent of shares.
A defining shift in the shareholder register came in 2025, when Toronto Dominion Bank fully exited the roughly 10 percent stake it had held since the TD Ameritrade merger, a move Schwab supported with a 1.5 billion dollar share buyback.
Other major asset managers such as Fidelity also compete for the same retail investor dollars, and readers curious about a similar privately owned rival can read our guide on who owns Fidelity Investments.
Who Is the CEO of Charles Schwab
Rick Wurster is the current President and Chief Executive Officer of Charles Schwab, having taken the role on January 1, 2025.
Wurster joined Schwab in 2016 and previously led the investor services and asset management businesses before being named president in 2021.
Founder Charles R Schwab did not disappear from leadership when Wurster took over, he continues to serve as Co Chairman of the board alongside Walt Bettinger, the outgoing chief executive who transitioned to executive chairman duties.
Wurster does not personally control the company, his role is to run daily operations and long term strategy on behalf of the shareholders who actually own Schwab stock.
Who Founded Charles Schwab
Charles R Schwab founded the company in 1971 in San Francisco, originally as a small brokerage focused on giving ordinary investors lower cost access to the stock market.
He built the firm around discount commissions after the Securities and Exchange Commission deregulated brokerage fees in 1975, a shift that let Schwab undercut the full service brokers that dominated Wall Street at the time.
According to Wikipedia, the company incorporated in 1986 and has operated as a public corporation for most of its history since.
Schwab served as chief executive twice, first from 1986 to 1997 and again from 2004 to 2008, before eventually stepping back into a chairman role while keeping a large ownership stake.
How Has Charles Schwab Ownership Changed Over Time
Schwab grew mainly through organic expansion and a series of major acquisitions rather than through outside ownership changes.
Early growth included the purchase of US Trust in 2000 to build out private banking, followed later by TD Waterhouse in 2006 and optionsXpress in 2011 to expand trading capability.
The largest deal in company history closed in 2020, when Schwab acquired TD Ameritrade in an all stock transaction, briefly making Toronto Dominion Bank one of the largest shareholders in the combined company.
That arrangement ended in 2025 when TD sold its remaining position, returning Schwab to a more conventional ownership structure led by index fund managers rather than a single strategic bank investor.
Broker Dealer Subsidiary
Banking Subsidiary
Asset Management Subsidiary
Vanguard, BlackRock, State Street and Individual Investors
Founder and Co Chairman
Major Charles Schwab Milestones
Charles R Schwab opens a discount brokerage in San Francisco.
Schwab becomes a pioneer of low cost discount trading after the SEC ends fixed commissions.
The Charles Schwab Corporation lists on the New York Stock Exchange.
Schwab expands into private banking and wealth management.
Schwab completes its largest acquisition, adding millions of new client accounts.
Toronto Dominion Bank sells its remaining Schwab stake, simplifying the shareholder base.
Total client assets pass 13 trillion dollars for the first time.
How Much Is Charles Schwab Worth
Charles Schwab carried a market capitalization of approximately 190 billion dollars as of early August 2026, based on its NYSE listed share price.
The company reported record quarterly revenue of 6.48 billion dollars for the second quarter of 2026, up 16 percent from the prior year.
Net income for the same quarter reached roughly 2.48 billion dollars, reflecting strong growth in trading activity, banking income and asset management fees.
Total client assets, which include brokerage holdings, bank deposits and managed portfolios, equaled roughly 13.08 trillion dollars as of June 30, 2026.
| Financial Metric | Value |
| Market capitalization | Approximately 190 billion dollars, August 2026 |
| Total net revenue | 6.48 billion dollars, Q2 2026 |
| Net income | 2.48 billion dollars, Q2 2026 |
| Total client assets | 13.08 trillion dollars, June 2026 |
| Total balance sheet assets | 491 billion dollars, FY2025 |
What Retirement Services Does Charles Schwab Offer
Charles Schwab offers Traditional IRAs, Roth IRAs, Rollover IRAs and SEP IRAs for individual retirement savers.
Workers who want to move an old employer plan can roll it directly into a Schwab IRA without triggering a taxable event, provided the transfer is handled correctly.
Schwab Retirement Plan Services also administers workplace 401k plans for employers, covering plan recordkeeping, participant education and investment menus.
Readers who want to compare a large insurance based retirement provider can see our guide on who owns Lincoln Financial Group, which focuses more on annuities and group retirement products.
Schwab also supports small business retirement plans, including SIMPLE IRAs and Individual 401k plans for the self employed.
Can You Roll Over a 401k to Charles Schwab
Yes, Schwab accepts direct rollovers from most former employer 401k and 403b plans into a Schwab Rollover IRA.
A direct rollover moves funds straight from the old plan administrator to Schwab without the saver ever taking possession of the money, which avoids withholding taxes.
Savers should contact their previous plan administrator to start the transfer, then confirm the destination account details with Schwab before funds are sent.
For decisions about which account type fits a specific tax situation, consult a qualified tax or financial professional rather than relying on general guidance alone.
How Do You Contact Charles Schwab Customer Service
Charles Schwab customer service can be reached at 800 435 4000 for general brokerage support, available 24 hours a day, five days a week.
Retirement plan participants with a workplace account should call Schwab Retirement Plan Services at 800 724 7526 instead of the general brokerage line.
Banking customers can reach Schwab Bank support at 888 403 9000, while callers outside the United States can use the international line at plus 1 415 667 7870.
| Support Type | Contact Information |
| General brokerage support | 800 435 4000 |
| Retirement plan participants | 800 724 7526 |
| Banking support | 888 403 9000 |
| International support | +1 415 667 7870 |
| Corporate office | 3000 Schwab Way, Westlake, TX 76262 |
| Website | schwab.com |
Where Is Charles Schwab Headquarters
Charles Schwab is headquartered in Westlake, Texas, at 3000 Schwab Way.
The company relocated its corporate headquarters from San Francisco to Westlake in 2021 as part of a broader move of staff and operations to the Dallas Fort Worth area.
Schwab still maintains a large employee presence in California and operates hundreds of local branch offices across the United States for in person support.
Is Charles Schwab a Good Financial Company
Charles Schwab is widely regarded as one of the strongest full service brokerages in the United States, and it won Stockbrokers dot com top overall broker award for 2026.
The company offers zero commission online stock and ETF trades, no account minimums on most accounts, and a published satisfaction guarantee that refunds certain fees if a client is not satisfied.
Independent research firms consistently rate Schwab highly for platform stability, research tools and the breadth of its investment menu compared to smaller discount brokers.
On the downside, some customers report long hold times during high volume trading days, and the sheer size of the combined Schwab and TD Ameritrade client base has occasionally strained support capacity during the multi year account migration.
Overall, the balance of low costs, strong technology and a wide service lineup makes Schwab a solid choice for most long term investors and retirement savers.
Frequently Asked Questions About Charles Schwab
Who owns Charles Schwab
Charles Schwab is publicly owned by its shareholders, led by institutional investors such as Vanguard and BlackRock alongside founder Charles R Schwab.
Who is the CEO of Charles Schwab
Rick Wurster has served as President and CEO of Charles Schwab since January 1, 2025.
Is Charles Schwab publicly traded
Yes, Charles Schwab trades on the New York Stock Exchange under the ticker symbol SCHW.
What is the Charles Schwab customer service phone number
The main Charles Schwab customer service number is 800 435 4000, available 24 hours a day on weekdays.
Does Charles Schwab offer retirement accounts
Yes, Schwab offers Traditional IRAs, Roth IRAs, Rollover IRAs, SEP IRAs and workplace 401k administration through Schwab Retirement Plan Services.
Who founded Charles Schwab
Charles R Schwab founded the company in San Francisco in 1971 and still serves as Co Chairman of the board today.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.