At Barron's How Charles Schwab Is 'Crushing It' With Young Investors
Dec 18, 2025
Rick Wurster, CEO of Charles Schwab, discusses the firm's impressive $11.8 trillion in assets and how they are attracting one in six new clients from Gen Z. He emphasizes the importance of education and support in gaining young investors. Wurster also contrasts investing with gambling, warning of the risks associated with app-driven betting. Additionally, he highlights Schwab's plans for crypto and democratizing private markets, while stressing the role of AI in enhancing client services and the necessity of branches for deeper engagement.
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Prediction Markets Drifted Toward Sports
- Prediction markets began tied to economic hedging but shifted heavily into sports betting.
- Wurster says the original purpose was useful but now 95% of volume is sports gambling.
Zero-Day Options Can Be Used Systematically
- Some clients use zero-day options systematically to sell premium and have profited from disciplined strategies.
- Wurster acknowledges disciplined participants can earn money from short-dated options.
Open Privates With Guardrails
- Democratize private investing but require expert guidance and staged access.
- Schwab will offer alternatives across fee points and require clients to meet with alternative investment consultants before investing.