Schwaab history

Andrew successfully continued and expanded the business until he died on April 19, 1911.

1963: Chuck Schwab and two other partners launch Investment Indicator, an investment advisory newsletter.

1971: In April, the firm is incorporated in California as First Commander Corporation, a wholly owned subsidiary of Commander Industries, Inc., to conduct a conventional broker-dealer securities business and publish the Schwab Investment Indicator newsletter.

1972: Chuck Schwab buys all stock from what was once Commander Industries.

1973: The corporate name changes to Charles Schwab & Co., Inc.

1977: Schwab opens an office in Seattle—the first branch outside of California—and begins offering seminars for customers.

1979: In a "bet-the-company" move, Schwab invests in the BETA mainframe system.

1981: Schwab becomes a member of the New York Stock Exchange (NYSE). The firm opens its first location in Manhattan.

1983: Bank of America acquires the firm for $55 million.

1985: In August, Schwab records its 1-millionth client account.

1987: In March, management leads a buyback from Bank of America for $280 million.

1989: Schwab introduces TeleBroker®, an automated technology for telephone brokerage service.

1991: The company introduces the Schwab 1000 Fund, an equity index fund that reaches $191 million in client assets by year’s end.

1993: Charles Schwab Limited opens its first office in London.

1995: Schwab activates its first website at Schwab.com®. The company acquires U.K.-based discount broker ShareLink and 401(k) plan recordkeeper The Hampton Company, founded by Walter W. Bettinger II.

1997: The Charles Schwab Corporation is added to the S&P 500 Index.

1999: Schwab launches after-hours trading for Nasdaq and select listed stocks, with orders accepted online or by phone from 4:30 p.m. to 7:00 p.m.

2003: Charles Schwab Bank launches.

2006: Schwab lowers and simplifies pricing for equity, option, mutual fund and bond transactions.

2009: Schwab introduces Real Life Retirement™ Services with practical tools and resources for those nearing retirement.

2011: Schwab launches a new platform for active traders, StreetSmart Edge®,10 designed to simplify complex trading activities and provide a more intuitive experience.

By the end of 2012, client assets have grown to $2 trillion.

2017: Schwab ETF OneSource™ adds OppenheimerFunds to its commission-free ETF Program, allowing investors and advisors to buy and sell 228 ETFs covering 69 Morningstar Categories with $0 online commissions, no enrollment requirements and no early redemption fees.