Bloomberg Talks President & CEO of Charles Schwab Talks Advisor Services
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Nov 5, 2025 Rick Wurster, President and CEO of Charles Schwab, shares insights from his first year leading the firm. He highlights the importance of advisor services and the firm’s focus on long-term investing amidst market volatility. Wurster discusses retail traders’ resilience and how Schwab differentiates itself from platforms like Robinhood. He also explores the growing interest in crypto among clients and outlines Schwab's plans for retail access to private markets. Plus, hear his strategies for attracting Gen Z investors and navigating market impacts of elections.
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Integrated Service Strength
- Rick Wurster says Schwab's value comes from combining strong in-person experiences, a leading digital app, and bank and wealth capabilities.
- He frames that integrated offering as essential for helping clients navigate volatile markets.
Avoid Market Timing
- Rick Wurster advises clients to focus on long-term ownership rather than market timing.
- He warns that missing re-entry after selling can cause investors to forfeit large gains.
Client Who Missed The Rally
- Wurster recounts a client who sold stocks in 2016 over politics and missed subsequent gains.
- He uses the story to illustrate the cost of leaving the market during pullbacks.