At Barron's How Charles Schwab Is 'Crushing It' With Young Investors
Dec 18, 2025
Rick Wurster, CEO of Charles Schwab, discusses the firm's impressive $11.8 trillion in assets and how they are attracting one in six new clients from Gen Z. He emphasizes the importance of education and support in gaining young investors. Wurster also contrasts investing with gambling, warning of the risks associated with app-driven betting. Additionally, he highlights Schwab's plans for crypto and democratizing private markets, while stressing the role of AI in enhancing client services and the necessity of branches for deeper engagement.
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Why RIAs Have Grown Faster
- Charles Schwab splits roughly half retail and half independent-advisor assets, serving many investor preferences.
- The RIA channel grew because fiduciary relationships built local trust and client-focused service.
Schwab's Client Base Is Getting Younger
- Schwab is attracting a much younger client base with strong digital and educational reach.
- One in six new clients are Gen Z and 60% of new clients are under 40, lowering average client age into the 40s.
Train And Support Young Investors
- Use education and accessible support to win young investors.
- Schwab offers 35 hours a week of live education and 1,000 ex-traders to help newcomers make trades.