Schwab Network Charles Schwab CEO on Volatility, National Investing Day & Ringing Closing Bell
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May 1, 2025 Rick Wurster, President and CEO of Charles Schwab, talks about initiating National Investing Day to boost financial literacy and foster investment discussions, especially among younger audiences. He discusses strategies to navigate market volatility and the importance of client support during fluctuations. Wurster highlights findings from the Schwab Modern Wealth Survey, revealing a confidence gap in investing among those without formal education. Emphasizing client-focused service, he underscores the transformative role of AI in finance.
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Democratizing Investing Access
- Investing was once inaccessible due to high commission costs for smaller investors.
- Charles Schwab democratized investing by lowering commissions 50 years ago.
Promote Investing Conversations
- Encourage conversations about investing with loved ones to boost financial literacy.
- Use education and training resources to build confidence and empower investors.
Client Behavior in Volatility
- Clients respond differently to market volatility: some buy dips, others reduce risk.
- Overall, a slight risk-off mentality prevails among Charles Schwab clients currently.