Schwab CEO on AI Strategy, Investing Trends, and ‘Charlie'

• Schwab reports record client engagement, with strong interest in tax-aware strategies, fixed income, and advice, alongside continued high equity investment and trading activity.
• The firm is attracting younger generations (Gen Z, Millennials) through social media and educational content, noting that these demographics are investing earlier and are highly engaged in stocks.
• Schwab is blocking unauthorized AI agents from accessing client accounts due to liability and control concerns, but is developing its own AI assistant, 'Charlie,' and will create secure pathways for authorized AI agents, while emphasizing that over 90% of clients still desire human involvement in their financial lives.

Rick Wurster, CEO of Charles Schwab, discusses strong client engagement across equities and fixed income, successful strategies to attract younger investors, and the firm's approach to AI. Schwab is blocking unauthorized AI agents to protect clients, while developing its own AI assistant, 'Charlie,' and creating secure pathways for client-approved AI tools, emphasizing the continued importance of human advisors.