Charles Schwab
Is This Your Business?4.9
4.9
LAST UPDATED: March 22nd, 2024
Charles Schwab was founded in 1973 and is currently headquartered in San Francisco, California. They are a financial investment firm who believes in the power of investing through a commitment to challenging the industry status quo by delivering excellent client services, helping clients solve their issues and support them via a strong leadership team. Charles Schwab has $2.42 trillion in client assets, 1.5 million corporate retirement plan participants, 1.0 million banking accounts and 7,000 RIAs served. Charles Schwab also has more than 325 branches, approximately 1,200 financial consultants, $184.9 billion enrolled in advisory solutions and upwards of 100,000 financial plans they have provided to date. And they have available services for everyone from individual investors to advisors, to employers.
Top Ranked Companies
The Good
- Services
- Portfolio management
- Small business solutions
- Pricing and fees
- Retirement
- Trading tools
Services
As we mentioned above Charles Schwab has an impressive number of services, such as mutual funds, ETFs, stocks, options, futures, global investing, CDs and money market funds, bonds and fixed income, margin loans, annuities, and insurance. And each of these come with their own set of very specific details, all of which can be seen on their website. Unfortunately, it's beyond the scope of this review to go over each little detail in its entirety. However, their website does a great job of explaining what each feature entails and how everything works.Portfolio Management
Schwab's portfolio management services provide investors with a range of benefits, which includes continued investment advice, seasoned portfolio managers, a multitude of investment strategies, low fees, and straightforward pricing. Therefore, it doesn't matter whether you need personalized advice, managed portfolios or specialized strategies, Charles Schwab can help. A unique feature that should be paid attention to with Charles Schwab is their Intelligent Portfolios. Schwab Intelligent Portfolios is an automated investment service that helps you build your own portfolio with automating features such as monitoring and rebalancing. There are no fees involved and you can start with as little as $5,000.Small Business Solutions
Schwab has a variety of small business solutions that are designed to help you reach your goals. They have everything from a full range of retirement plans for businesses of all sizes to organization accounts that enjoy low trade commissions and zero cost monthly service fees and more. They also offer CDs and money market funds to help you manage your cash and cash investments as effectively as possible.Pricing and Fees
Charles Schwab's pricing and services give you more for less. They offer every client, clearly stated low fees such as $8.95 online equity trades, over 100 online commission-free ETFs, options at $8.95 + $0.70 per contract, $1 per bond transaction cost on most online secondary trades, hundreds of no-load mutual funds with no transaction fee and a $25,000 minimum, not to mention their no cost advisors. Additionally, Charles Schwab offers a wide variety of free services to their investors, such as 24-7 customer support, Schwab and third-party research and insights, industry-recognized mobile apps for investing, comprehensive performance reporting, one-on-one portfolio consultation for clients with $25,000 in assets at Schwab. They also offer you personal help switching to Schwab, a new client concierge to help get you started, specialized teams in fixed income and active trading. And they have financial consultants at local branches nationwide along with 24-7 customer support and investment help. Charles Schwab offers investment help now and in the future as your needs change. You can easily invest on your own, receive occasional guidance, if you need it, or choose complete professional management of your entire portfolio at a competitive price.Retirement
If it's retirement planning you need, Charles Schwab will guide you through your entire retirement journey and help you make adjustments along the way as your life's events change. They will help you with savings basics, understanding IRAs, how to invest, the best ways to save for retirement, help with retirement income, saving for college, estate planning, understanding insurance basics and any other life events that come your way. They also supply you with tools, such as savings calculators, IRA calculators, a retirement income quiz, retirement needs a worksheet, an investor profile questionnaire and they sponsor a variety of retirement workshops locally and online.Trading Tools
Charles Schwab has several popular online trading tools such as their StreetSmart, which is web-based and StreetSmart Edge, which is desktop based. Each platform provides customized views, technical trader graphs, live option, bid-ask data and trading all in one location. And it includes popup messages when investors trade or alert conditions are met. Both platforms are easy to use and provide live market data that allows investors to enter more complex trades.The Bad
- Reputation
- Online presence
Reputation
Charles Schwab does have a few mixed reviews on the public forums and unfortunately 16 of the negative comments are from 2015. The only small trend we could find was that in several instances, Charles Schwab closed investors' accounts and it's their policy not to disclose the reason, and there were a couple of instances of frozen accounts. There is one thing to note, however, and that's the fact that Charles Schwab is a very large investment company and the number of negative complaints we saw was relatively insignificant compared to their size. But that doesn't mean you should dismiss them. We recommend you weigh all the facts before making any final decisions.Online Presence
There really aren't too many issues we feel you need to be aware of when it comes to Charles Schwab as a whole. At least that we could find. However, we do feel their website could be streamlined a little better. It's full of great information, but it's too busy and you have to spend quite a bit of time clicking around to find everything you need. It's not terrible, though, and it really isn't hard to use, it's just time-consuming.The Bottom Line
Was this content helpful?
Yes
No
Filter by:
Sort by:
Stephanie Bloniarz
I had been a TD Ameritrade customer and when Charles Schwab bought them out, it was a seamless transition. I have bought and sold stocks, and it has been very easy. I like the website, and it's easy to navigate.
4 weeks ago
Michelle Thomas Anaheim, CA
I inherited money from my Uncle and this company was great and explain my options of what to do with my money. I reinvested partial amount and it has grown over the past 7 years. I just leave it be.
I had a great experience with the broker the day I received my inheritances and reinvested upon his knowledgeable explanations of my choices.
4 months ago
J Adams Charlotte, NC
I have used Charles Schwab for years. Their fees and commuter very reasonable and my orders fill very quickly. And now that they have acquired the Think or Swim platform, their charting options are now top notch.
6 months ago
JOHN M CAMPBELL ,
I have several accounts with Charles Schwab - checking, savings, credit card & brokerage services. Everyone of them is an excellent value for the money. I especially like their "stock-slice" program that lets me purchase partial shares with the cash rewards I get from my Charles Schwab AMEX card. Since they started offering this I've increased my holdings in Apple, bit-by-bit!
3 years ago
Review Source
Frank Herbert Portland, OR
I have used Schwab for years to manage both my personal and trust accounts. I can easily buy/sell stocks, mutual funds and CDs. Their research tools are helpful in all of these transactions. My son has been overseas for three years and I set him up with a Schwab account which functions as a bank account for him. Schwab reimburses him for all of his overseas ATM fees. He has also expanded his activity into buying stocks which he can easily do on-line. Schwab also offers checks and a debit card with their accounts. Most of our interactions are on-line but you can also reach them with a toll-free number worldwide.
2 years ago
Jason Atlanta, GA
I use Charles Schwab for almost all of my investments. It can be a little tricky learning how to use their platform but after watching some of their help videos it makes sense. They have a great variety of investment vehicles to choose from and a lot of them don't have any fees.
1 year ago
scotty Saint Paul, MN
I'm currently using advisors for Charles Schwab I have a beneficiary IRS set up to them. Even do this tough times they are managing to keep me positive and in the green and the Charles Schwab online pages excellent great features comes info really keeps you up to date and where your money is
1 year ago
John Burnside Colorado Springs, CO
I switched to Schwab about a year ago based on the recommendation of my financial adviser. Fired the financial adviser but kept Schwab. Very good updates on my portfolio and they are very price competitive. I don't make trades very often but I have the support and tools when I decide to.
4 years ago
Chris Guenther Orem, UT
I have been with Schwab since 2006 and I love them! I think they are the best value for the money overall in the industry. The website does take some time to learn and navigate, but it provides plenty of tools and I always get great trade execution. I like their low-cost pricing structure, especially since I am more of a longer term investor and not at all a day trader.
They have great customer support and I trust them. In my experience they are a high-class organization and they have taken great care of me.
7 years ago
Review Source
Richard Cunningham Sandys Parish, SA
I've been using this site for a few years now both on the web version as well as the app for iphone. It's extremely easy to use especially for a newbie to something like buying and selling shares. Its dead easy to keep track of how much you buy/sell, your profits etc. It can become addictive if you have it on your phone as you constantly are checking! but addictive in a good way. Thoroughly recommend.
2 years ago
Review Source
Kurt Didenhover Salt Lake City, UT
One of the most important aspects of a service is how well the website is easy to use. Schwab has a great interface that is easy to use. Every time I log in, I find what I want and need. The information is great and helpful to make decsions.
2 years ago
Christine Ramos Kingston, GA
The Charles Schwab app is very user friendly - have used their services for years through my employer.
8 months ago
Review Source
Amy N Sandy, UT
The Charles Schwab website was easy to navigate and find the information I was looking for regarding my investments.
2 years ago
Review Source
Glenn Dalton Salt Lake City, UT
Very professional easy to use, informative site. Always had the resources to accomplish any task I needed to do.
2 years ago
John Schwab Sandy, UT
The Schwab ios app is very easy to use and quick to place orders.
6 years ago
