Charles Schwab : Investor Day Presentation (2026 Institutional Investor Day)

Published: 2026-05-14 08:46:10 ET SCHW

Published on 05/14/2026 at 08:46 am EDT

2026

Institutional Investor Day

Leading today.

Defining tomorrow.

Presenters

Rick Wurster

President & Chief Executive Officer

Adele Taylor

Managing Director, Head of Workplace Services

Jon Beatty

Managing Director, Head of Advisor Services

Stacy Hammond

Managing Director, Chief Marketing Officer

Jonathan Craig

Managing Director, Head of Retail Investing

Neesha Hathi

Managing Director, Head of Wealth Advisory, Banking, & Trust Services

James Kostulias

Managing Director, Head of Trading Services

Andrew D'Anna

Managing Director, Head of Products & Strategy

Dennis Howard

Managing Director, Chief Technology, Operations, & Data Officer

Mike Verdeschi

Managing Director, Chief Financial Officer

Charles Schwab Corporation

Agenda

Rick Wurster, President & Chief Executive Officer

Jon Beatty, Advisor Services

Jonathan Craig, Retail

James Kostulias, Trading Services Adele Taylor, Workplace Services

Stacy Hammond, Marketing

Neesha Hathi, Wealth, Banking, & Trust

Andrew D'Anna, Investment Platforms, Solutions, & Strategy

Dennis Howard, Technology, Operations, & Data

Mike Verdeschi, Chief Financial Officer

Combined Q&A following Trading Services

Combined Q&A following Investment Platforms, Solutions & Strategy

Charles Schwab Corporation

Question & Answer Reminders

In-person Attendees

In-person attendees are encouraged to ask questions via mic runners during the live Q&A sessions, but also have access to the console

Similar to Business Update webcasts, please adhere to the one question format - we will circle back to capture additional questions

Virtual

Attendees

Please plan to submit questions via the "Ask a question" widget located on the right-hand side of your webcast console

Questions can be submitted during each speaker's prepared remarks as

well as during the live Q&A sessions

Questions

/ Issues

E-mail the Investor Relations team at: [email protected]

Charles Schwab Corporation

Forward Looking Statements

This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements that refer to expectations, projections or other characterizations of future events or circumstances and are identified by words such as "expect," "anticipate," "assume," "will," "continue," "maintain," "seek," "increase," "drive," "deepen," "enhance," "expand," "ongoing," "positioned," "opportunity," "growth," "sustain," "develop," "enable," and other similar expressions.

These forward-looking statements relate to: the company's strategy and momentum; opportunities for winning new clients, deepening client relationships, and monetization; innovating to meet client needs; market opportunity, spot crypto offer; private markets investing offer; artificial intelligence capabilities; our Global Capabilities Center; diversified acquisition model; expense discipline; targeted investments; balance sheet management and capital return; revenue growth and diversification; funding diversification; earnings growth through the cycle; and positive operating leverage through the cycle.

These forward-looking statements reflect management's beliefs, expectations and objectives as of today and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that may cause such differences are discussed in the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which have been filed with the Securities and Exchange Commission and are available on the company's website (https://www.aboutschwab.com/financial-reports) and on the Securities and Exchange Commission's website (https://www.sec.gov). These include: the company's ability to attract and retain retail and advisor clients and grow those relationships and associated client assets; investor engagement and interest in the company's products and services, including our lending and advisory solutions; the company's ability to monetize client assets; the company's ability to develop and launch new and enhanced products, services, and capabilities, as well as enhance our infrastructure; the company's ability to enable new technology, including artificial intelligence; the company's ability to support client activity levels; general economic and market conditions, including interest rates, equity valuations and volatility; balance sheet positioning relative to changes in interest rates; capital and liquidity needs and management; the company's ability to manage expenses; the company's ability to access funding sources; adverse developments in litigation or regulatory matters and any charges associated with such matters; and any developments in legislation, regulation or regulatory guidance relevant to our business.

The information in this presentation speaks only as of May 14, 2026 (or such earlier date as may be specified herein). The company makes no commitment to

update any forward-looking statements.

Charles Schwab Corporation

Rick Wurster

President & Chief Executive Officer

Leading today.

Defining tomorrow.

Leading today.

Defining tomorrow.

Our "Through Clients' Eyes" strategy is delivering growth across all fronts

Schwab is a trusted leader today with a best-in-class value proposition

We have a clear strategy & are innovating to meet evolving client needs

We are well-positioned to drive earnings growth through the cycle

Charles Schwab Corporation

Leading today.

DRAFT

PURPOSE

To champion every client's

goals with passion & integrity

$12.6T 47M+

50+

years in business

client assets client accounts

VISION

To be the most trusted leader in investment services

STRATEGY

"Through Clients' Eyes"

16K

400+

branch locations1

independent RIAs1

33K+

employees1

5.9M

workplace plan participant accounts

2.3M

banking accounts

Note: K = Thousand. M = Million. T = Trillion. RIA = Registered Investment Advisor. Metrics as of April 30, 2026, unless otherwise noted. 1. As of March 31, 2026.

Charles Schwab Corporation

Leading today.

With strong

execution across our key strategic

Highlights Since 2024 Investor Day

Service & Experience

Products & Solutions

Acquisitions &

Partnerships

focus areas, we have continued

to innovate...

Growth

Scale & Efficiency Brilliant Basics

People

Branch Footprint

Financial Consultant & Wealth Advisor Coverage

Pledged Asset Line® Digitalization

Knowledge Assistant Service Assistant International

Relationship Expansion

Alternative Investments

Select

Schwab Wealth AdvisoryTM

Discretionary Portfolios 24x5 Trading Expansion Advisor ProDirectTM

Tax-Aware

Long/Short Strategies INTF Expansion Structured Asset LineTM

Schwab Teen InvestorTM Account

Schwab CryptoTM

M&A

Investments1

Note: AI = Artificial intelligence. INTF = Institutional No Transaction Fee. M&A = Mergers and acquisitions. 1. MEMX investment made in 2019.

Charles Schwab Corporation

Leading today.

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

…and our "Through Clients' Eyes" strategy has powered growth across all fronts.

$140B +2%

Client

Core NNA

ex-Mutual Fund Clearing $158B

Solutions

+46%

Managed Investing Net Flows

1Q26 vs. 1Q25

1.3M +10%

New Brokerage

Accounts

$61B +29%

Bank Lending1

(EOP)

Financial

$6.5B +16%

$1.43

+38%

Total Net Revenues

Adjusted2 EPS

GAAP EPS $1.37 + 38%

Note: Q = Quarter. B = Billion. M = Million. EOP = End of period. EPS = Earnings per share. GAAP = Generally accepted accounting principles. 1. Net consolidated loan balances. 2. Further details on non-GAAP financial measures and a reconciliation of such measures to reported results are included on slides 181-183 of this presentation.

Charles Schwab Corporation

Leading today.

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our

"no trade-offs" value proposition sets the standard

Most Trusted Brand

Best-in-class Value

Omnichannel

Low Fees

$12.6T

Client Assets1

Education & Resources

Scale

in the industry.

Experience

Dedicated

Relationships

Digital AI 24 / 7

Service

Product Breadth

Wealth Trading Banking Asset Mgmt

Note: T = Trillion. AI = Artificial Intelligence. Mgmt = Management. 1. Total client asset data as of April 30, 2026. The IBD Most Trusted Financial Companies award was given to Charles Schwab on September 12, 2025, and is licensed for a 15-month timeframe. The criteria, evaluation, and ranking were determined by Investor's Business Daily in conjunction with its research partner, TechnoMetrica Market Intelligence. Schwab paid a licensing fee to York Graphic Services, LLC. for use of the award and logos.

Charles Schwab Corporation

Leading today.

No Trade-offs | Most Trusted Brand

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our

"no trade-offs" value proposition sets the standard in the industry.

Note: The IBD Most Trusted Financial Companies award was given to Charles Schwab on September 12, 2025, and is licensed for a 15-month timeframe. The criteria, evaluation, and ranking were determined by Investor's Business Daily in conjunction with its research partner, TechnoMetrica Market Intelligence. Schwab paid a licensing fee to York Graphic Services, LLC. for use of the award and logos.

Charles Schwab Corporation

Leading today.

No Trade-offs | Best-in-class Value

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our

"no trade-offs" value proposition sets the standard

Schwab's industry-leading cost-to-serve…

Expense on Client Assets

~12 GAAP

~11 Adjusted2

~35

~38

(bps)1

Schwab

…enables a best-in-class value proposition to clients.

Revenue on Client Assets

(bps)1

~21

~59

~87

Schwab

in the industry.

Online

Brokers Wirehouses

Regionals & IBDs

~67

Online

Brokers

Wirehouses

Regionals

& IBDs

~121

Note: Bps = Basis points. IBD = Independent broker-dealer. GAAP = Generally accepted accounting principles. 1. Data presented as last twelve months of publicly reported data as of 4Q25 & represents revenue & expenses from respective wealth management segments of all companies, if applicable. Schwab is represented on a total company basis. Wirehouse segment includes Morgan Stanley, JP Morgan, Bank of America, & Wells Fargo. Regional & IBD segment includes Ameriprise, LPL Financial, & Raymond James. Online Broker segment includes Interactive Brokers & Robinhood. 2. Further details on non-GAAP financial measures and a reconciliation of such measures to reported results are included on slides 181-183 of this presentation.

Charles Schwab Corporation

Leading today.

No Trade-offs | Omnichannel Experience

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our

"no trade-offs" value proposition sets the standard in the industry.

24 / 7

Service

Dedicated

Relationships

Digital AI

Schwab Awarded Best

Customer Service 20261

Schwab Named Best Investing

Platform, 4 Years in a Row2

Note: AI = Artificial intelligence. 1. Forbes Best Customer Service List 2026 was given on November 11, 2025, and expires November 10, 2026. The criteria, evaluation, and ranking were determined by Forbes, partnered with HundredX. See https://www.forbes.com/sites/alanschwarz/2025/10/13/best-customer-service-2026-a-round-table-with-the-experts/ for more information. Schwab paid a licensing fee to Forbes for use of the award and logos. 2. U.S. News & World Report's Best Investing Platforms awards were given on 04/16/2026. The criteria, evaluation, and ranking were determined by U.S. News & World Report. See https://money.usnews.com/investing/best-brokers/methodology for more information. Schwab paid a licensing fee to U.S. News & World Report for use of the award and logos.

Charles Schwab Corporation

Leading today.

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our

"no trade-offs" value proposition sets the standard in the industry.

No Trade-offs | Product Breadth

Expanding suite of solutions for investors

Charles Schwab Corporation

Leading today.

~$700B

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Weekly Notional

Trading Volume1

~$250B

Monthly Move

Money Volume2

No Trade-offs | Product Breadth

Clients actively manage their cash allocations to help them meet their financial goals.

Transactional Cash per Account ($K) and as % Total Client Assets3

Advisor

Services

Total

Retail

~$10K

% Total

Client ~4%

Assets

Mar-22 Mar-26

Note: K = Thousand. B = Billion. LTM = Last 12 months. CD = Certificate of Deposit. 1. Based on LTM of client trading volumes across all trading products for the period ending April 30, 2026. 2. Average monthly move money activity for the LTM period ending March 31, 2026. 3. As of March 31, 2026; cash per account based on total client accounts; transactional cash includes bank sweep deposits and broker-dealer cash balances, other client cash held on balance sheet (bank checking and savings, broker-dealer non-interest-bearing credits, and short credits related to certain long/short strategies), and Bank Deposit Account balances; excludes proprietary and third-party CDs.

Charles Schwab Corporation

Total Client Assets | Schwab vs. Select Peers1 ($T)

12.6

7.3

7.1

~1.7

Total Client Assets2

TOA

Ratio3

3.8

2.3

2.2

1.5

1.1

0.9

0.5

0.3

0.1

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Schwab MS JPM BAC LPLA WFC RJF AMP IBKR SF COIN HOOD WLTH

Note: T = Trillion. LPLA = LPL Financial. IBKR = Interactive Brokers. COIN = Coinbase. HOOD = Robinhood. WLTH = Wealthfront. RIA = Registered Investment Advisor. TOA = Transfer of accounts. 1. Peer data presented as of most recently reported data; Morgan Stanley (MS), JP Morgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Raymond James (RJF), Ameriprise (AMP), & Stifel (SF) represents client assets related to the respective wealth management segments of those companies; Schwab and other companies presented on a total company basis; Schwab client assets as of April 30, 2026. 2. Rank based off most recently reported client asset data by publicly traded peers. 3. Represents Transfer of Assets ratio for the last 12 months ending March 31, 2026.

Charles Schwab Corporation

Leading today.

Investors & RIAs are continuing to choose Schwab.

U.S. Retail Investable Wealth

Schwab

Direct /

Self-

directed

RIAs

IBD / Regional Broker-dealers

U.S. Retail Investable Wealth

Wirehouses

2020-2025 CAGR1 Market Share Opportunity

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

12%

~$90T

Note: T= Trillion. CAGR = Compound annual growth rate. RIA = Registered Investment Advisor. IBD = Independent broker-dealer. 1. Estimated U.S. retail

investable wealth market. Source: Cerulli & FRED. As of December 31, 2025. 2. Estimated market share. Source: FRED. As of December 31, 2025.

Charles Schwab Corporation

Leading today.

We are well positioned for the opportunity still ahead.

Defining tomorrow.

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Our industry is entering a new era & four trends are reshaping investor expectations.

The next generations of investors

The bull market for convenience

Emerging asset classes & products

The power of artificial intelligence

Charles Schwab Corporation

NEW DRAFT

Our Purpose To champion every clients' goals with passion & integrity

Who we want to be for clients

Our Strategy

"Through Clients' Eyes"

People

Attract, develop, advance, & retain exceptional talent who embody our culture of service to our clients & each other

Growth

Help existing clients grow, welcome new clients, & diversify how they reward us for our value with new offers, products, & tools that support the unique needs of each client

Brilliant

Basics

Be there for our clients whenever they need us & make investing at Schwab easy & intuitive across every digital & human interaction

Scale & Efficiency

Embrace new technologies & seek continuous process improvements to keep costs low, allowing us to reinvest in growth initiatives & fuel our no trade-offs value for clients & stockholders

2026

Focus

Areas

Note: RIA = Registered Investment Advisor.

Defining tomorrow.

We have a clear strategy to keep delivering for clients, employees, & stockholders.

Defining tomorrow. Growth

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Schwab has multiple growth levers across our leading platform.

Win new clients across Retail, Advisor Services, & Workplace

Deepen relationships with our existing $12.6T in client assets across 47M accounts

Note: T = Trillion. M = Million. Metrics as of 4/30/2026.

Charles Schwab Corporation

Defining tomorrow.

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

We are accelerating our pace of growth by focusing on key opportunities.

Growth | Serve More Clients & Deepen Relationships

Meet the segmented needs of the broad range of clients we serve - advisors of all sizes, & investors & traders of all ages, wealth tiers, & sophistication levels

Blend the best of people & technology

Win with LLMs

Expand our Workplace business

Broaden support for RIAs while improving monetization

Enhance our product & advice capabilities to create a one-stop-shop

Continue to make our clients' lives as easy as possible

Capture our fair share of economics on our platform

Note:. RIA = Registered Investment Advisor. LLM = Large language model.

Charles Schwab Corporation

Defining tomorrow. Growth | Deepen Relationships

Action

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Broaden our lending capabilities to support the

Impact

Meeting the

broader needs of our clients is critical to their success & helpful to our diversification.

needs of advisors & retail clients

Meet more of our clients' advice needs through Schwab Wealth AdvisoryTM

Meet the product & advice needs of our clients

Continue to deliver a market-leading trading offer

Deeper relationships with clients

Revenue diversification

Charles Schwab Corporation

Defining tomorrow. Growth | Emerging Opportunities

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

We continue to further expand our offering to help clients across more of their financial lives.

Spot crypto

Platform Monetization

Charles Schwab Corporation

Defining tomorrow. Scale & Efficiency

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

We will utilize our scale advantage & unlock incremental efficiency over time.

Schwab Cost per Account1

2015

GAAP

-25%

$428 $332

$319

$236

2025

GAAP

2025

Adjusted

2025

Adj. in 2015 Dollars2

Global Capabilities Center

Efficiency & Transformation

AI-powered Productivity

Shifting Tech Resources to "Grow"

Note: AI = Artificial Intelligence. GAAP = Generally accepted accounting principals. Adj. = Adjusted. 1. GAAP cost per client account is calculated by dividing total expenses excluding interest by average active brokerage accounts. Adjusted cost per client account is calculated by dividing adjusted total expenses (non-GAAP) by average active brokerage accounts. Further details on non-GAAP financial measures and a reconciliation of such measures to reported results are included on slides 181-183 of this presentation. 2. Inflation-adjusted cost per client account is calculated by multiplying cost per client account by the relative change in the Consumer Price Index from December 2015 to December 2025.

Charles Schwab Corporation

Defining tomorrow. Brilliant Basics

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Schwab will continue to be there for investors, delivering

best-in-class service within their channel of choice.

Retail Client Promoter Score

+9 pts Y/Y1

Advisor Services Easy Score2

Omnichannel Client Experience

Best-in-class Service

Ease & Convenience

Technology Infrastructure & Resiliency

Note: Pts = Points. Y/Y = Year over year. 1. First quarter 2026 vs first quarter 2025. 2. Easy Score represents a client's real-time rating of how easy it was to complete a specific task or transaction with the firm. As of fourth quarter 2025.

Charles Schwab Corporation

Defining tomorrow. People

Serve a Growing

Number of Clients

Leverage Enhanced Financial Management Capabilities

Schwab's unique culture & our people are competitive advantages.

Schwab Culture

Talent Recognition & Development

AI Fluency

Note: AI = Artificial Intelligence. Fortune America's Most Innovative Companies 2026 was given on March 25, 2026, and expires on March 24, 2027. The criteria, evaluation, and ranking were determined by Fortune, partnered with Statista. See https://fortune.com/ranking/americas-most-innovative-companies/ for more information. Schwab paid a licensing fee to Fortune for use of the award and logos.

Charles Schwab Corporation

Defining tomorrow.

Delivering growth across all fronts

Trusted leader with best-in-class value proposition

Schwab is built for what's next

Well-positioned for earnings growth through the cycle

Charles Schwab Corporation

Q&A

Leading today.

Defining tomorrow.

Advisor Services

Jon Beatty

Managing Director, Head of Advisor Services

Charles Schwab Corporation

Leading today.

Defining tomorrow.

Advisor Services is leading today & operating with strong momentum

Our platform is more robust & competitive than ever

We are defining tomorrow-custody is just the beginning

Charles Schwab Corporation

Our Purpose

Extend the fiduciary model to more investors

Schwab remains committed to helping advisors of all sizes

grow, compete, & succeed.

Leading today.

Advisor Services is in a position of strength & remains a driving force for Schwab.

$5.2T

Client Assets

16K

Advisory Firms

3.9M

Households

in RIA Custodial Assets

Note: T = Trillion. K = Thousand. M = Million. RIA = Registered Investment Advisor. As of March 31, 2026. Schwab Advisor Services excludes Schwab Advisor Network®, Retirement Business Services & Corporate Brokerage Retirement Services..

Charles Schwab Corporation

Leading today.

RIAs are the fastest growing advised category in U.S. wealth management, with significant room for continued growth.

With over $5T in assets, Schwab leads the RIA channel, which is expected to exceed wirehouse channel assets.

U.S. Advised Market Assets

Other B/Ds1 Independent B/Ds National & Regional B/Ds

Wirehouses

RIAs2

Total Market ~$19T

EOY 2024

~$36T

CAGR3 10%

EOY 2018

12%

11%

10%

13%

Schwab Market Share 8%

12%

(Schwab + TDA) Market Share 10%

Note: EOY = End of year. RIA = Registered Investment Advisor. U.S. = United States. T = Trillion. B/D = Broker Dealer. TDA = TD Ameritrade. CAGR = Compound annual growth rate. 1. Other broker/dealers includes Retail B/Ds and Insurance B/Ds.

2. Represents both hybrid & independent. 3. Percentages represent 6-year CAGR from 2018-2024. Source: Cerulli & Associates, U.S. Advisor Metrics 2025.

Charles Schwab Corporation

Leading today.

We are seeing sustained momentum,…

1Q26

Core NNA & Organic Growth Rate

$86B

Core Net New Assets1

Core NNA

6.5%

88K

5.1% 5.3%

$285B

$163B $201B

New Households1

FY23

FY24

FY25

Note: FY = Full-year. Q = Quarter. B = Billion. K = Thousand. NNA = Net new assets. AS = Advisor Services. SAN = Schwab Advisor Network®. RBS = Retirement Business Services. CRBS = Corporate Retirement Business Services. 1. Schwab Advisor Services excludes Schwab Advisor Network®, Retirement Business Services & Corporate Brokerage Retirement Services.

Charles Schwab Corporation

Leading today.

FY25

…and client satisfaction as we deliver brilliant experiences beyond custody.

Scale & Efficiency

Digital Experience

Service Professionals

160K hours of training

>8M client

touchpoints

94% Service Easy Score1

73% digital account open

79% Move Money adoption

88% SAC Easy Score1

Reducing workload hours

Increasing accounts per professional

93% ~68K hours +$285B

Overall Satisfaction

Talk time removed2

NNA with flat headcount

Note: K = Thousand. M = Million. B = Billion. NNA = Net new assets. SAC = Schwab Advisor Center All metrics represented as of December 31, 2025. Schwab Advisor Services excludes Schwab Advisor Network®, Retirement Business Services & Corporate Brokerage Retirement Services. 1. Easy Score represents a client's real-time rating of how easy it was to complete a specific task or transaction with the firm. As of fourth quarter 2025. 2. Full-year 2025 vs. full-year 2024.

Charles Schwab Corporation

Leading today.

We are leveraging artificial intelligence to strengthen operational excellence & drive advisor success.

Strengthening Internal Capabilities

Delivering AI-Powered Advisor Intelligence

Enabling an Open AI Ecosystem

Deliver faster, more consistent, & more personalized experiences

Note: AI = Artificial intelligence.

Reduce operational complexity & help advisors serve clients & grow more effectively

Accelerate open architecture & FinTech collaborations that help fuel client growth

Charles Schwab Corporation

Disclaimer

The Charles Schwab Corporation published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 12:45 UTC.