The Charles Schwab Corporation (SCHW)

Profile

Exchange: NYSE       Sector: Financial       Industry: Investment Brokerage - National

The Charles Schwab Corporation, is an American brokerage and banking company, based in San Francisco, California. It offers various brokerage products and services comprising brokerage accounts with check-writing features, debit card, and billpay; individual retirement accounts; retirement plans for small to large businesses; college savings accounts; designated brokerage accounts; equity incentive plan accounts; and margin loans, as well as access to fixed income securities, and equity and debt offerings. The company also provides various banking products and services, including checking accounts linked to brokerage accounts, savings accounts, certificates of deposit, demand deposit accounts, first mortgages, home equity lines of credit, and pledged asset loans. It operates primarily in the United States, the United Kingdom, and Hong Kong. It was founded in 1971 by Charles R. "Chuck" Schwab, as a traditional, brick and mortar brokerage firm and investment newsletter publisher. In 1973, the company name changed from First Commander Corporation to Charles Schwab & Co., Inc. The company started offering discount brokerage on May 1, 1975, and would become one of the world's largest discount brokers.