Charles Schwab & Co. has formed two programs for its high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients.
Retail clients with more than $1 million in assets at Schwab will be automatically enrolled in Schwab Private Client Services, and clients with more than $10 million will be enrolled in Schwab Private Wealth Services. The HNW and UHNW client segments are among the fastest-growing client segments at Schwab, representing more than two-thirds of the firm’s total retail client assets today. Clients with more than $1 million at Schwab are growing at a rate of more than 10 percent annually over the last five years, and clients with more than $10 million at the firm are growing at a rate of nearly 20 percent annually over the last five years, according to Schwab Retail business data through June 30, 2023.
“These new experiences reflect our commitment to deliver meaningful differentiation for the growing number of wealthy clients we serve, who are increasi
