# Schwab's record quarter

Business · Heat 4.2 / 10 · 3 shows · 22m airtime

Charles Schwab reported record quarterly results on October 16, 2026, with $190 billion in new client assets, up 38% year over year, and 70% of new-to-firm clients Gen Z or millennials. The discussion has moved to the firm's strategy beyond asset gathering: an AI assistant named Charlie, retail access to private markets, an investor stake in the Texas Stock Exchange, and a Claude for financial advisors partnership with Anthropic that went live the night before a conference. Fee compression remains the open question, with no segment yet establishing how the new bets offset it.

Page: https://boilpoints.com/point/schwabs_record_quarter_4067234863

## Segments

- [Bloomberg Surveillance](https://boilpoints.com/u/bloombergsurveillance), 2026-10-16, 1:06 to 14:42: **Recaps the record quarter and the AI assistant**. Rick Wurster runs through Schwab's record quarter and strategy: $190 billion in new assets, 70% of new clients Gen Z or millennials, trading up about 50% year over year, an AI assistant called Charlie, retail alternatives behind a professional conversation, and the Texas Stock Exchange stake. New angle: Schwab is launching an AI assistant named Charlie and holds an investor stake in the Texas Stock Exchange.
- [Animal Spirits Podcast](https://boilpoints.com/u/animalspiritspodcast), 2026-10-21, 15:53 to 20:07: **Recaps Schwab's record quarter and cash flows**. Recaps Schwab's record quarter - the $190 billion in net new assets, up 38%, the $4 trillion in monthly client cash movement, and the Gen Z and millennial share of new households - then drifts into a CoreWeave canary debate. The Schwab material stays inside what is already on the record.
- [Closing Bell](https://boilpoints.com/u/closingbell), 2026-10-29, 23:23 to 27:48: **Reports the Claude rollout from Schwab's conference**. Reports from Schwab's Impact Conference in Boston, where 6,000 advisors gathered, and interviews advisor services head John Beatty on the AI rollout: the Anthropic Claude partnership went live the night before, the Wealth.com Ester tool was extended, and Schwab took a strategic stake in Nevis. New angle: Schwab's Claude for financial advisors partnership with Anthropic went live the night before the conference.