Mr. Charles Robert Schwab is a well known Businessman and an American investor. He is also the founder of Charles Schwab Corporation. Charles was born on 29th July 1937 in Sacramento California. He completed his high school education from the Santa Barbara High School. Charles was very active in sports and he was the captain of his golf team. He attended his High School at the pre-college Holy Rosary Academy which was located in Woodland.
Charles Schwab graduated from Stanford University with majors in economics in the year 1959. He pursued his further education and completed his M.B.A from Stanford Graduate School of Business. In 1961 Charles entered into his professional life. In the year 1963 he launched his investment related letter named “Investment Indicator”. It was started by him and his two other partners. The investment letter was an instant hit among investors. The number of subscribers for the newsletter reached 3000 in its first ten years.
In the year 1971,Charles Schwab registered the company as first commander corporation. The firm was subsidiary of wholly owned for Commander Industries, Inc. It was offering the services of traditional blockage and also publishing the Schwab investment newsletters. The same year company purchased the stock of Commander Industries .
The name of company was changed in the year 1973 and the new name was Charles Schwab & Co, Inc. Schwab slowly and gradually progressed in the business and eventually got success in his profession. He opened new branch in Sacramento California in the year 1975. He offered different discount packages to the brokerages from 1st May 1975. He started offering different seminars to his clients from 1977. This is the first time someone had offered such services to his clients. The idea was great and clients appreciated this lot.
In 1978 the number of clients accedes and the total number of client’s accounts was 45000. The growth of the number of accounts was very fast as it 84000 accounts in the year 1979. In the year he introduced the most innovative service for his industry. His company started providing 27/7 quote and order service to his clients. The number of company clients reached to 147,000 in less than one year.
Schwab became the member of NYSE in the year 1981 and the same year the total number of his clients grew to around 222,000. In 1982, the firm of Schwab was the first one to offer the services of 24/7 order entry and quote services. The first international office was opened in Hong Kong and the accounts of his clients were acceding and it was around 374,000.
Currently Charles Schwab & Co serves around 8.2 million clients accounts of brokers all over the world. This company has more than 300 branches in U.S only. Different branches are located in London, Hong Kong and different countries of the world and they are providing services to their valued clients via telephone or online.