The Charles Schwab Corporation is one of the fastest growing financial services companies and the leading provider of on-line brokerage services through the Internet. More, Charles Schwab is the site for the investor that demands excellent customer service and a high level of security. Schwab is both the largest discount brokerage in the real world and it is the largest online brokerage with almost a third of the market. By the end of 2000, Schwab had captured over half of the discount brokerage market, having 870 billion dollars customer assets. Schwab provides service to individuals, investment managers and institutions. .
Boosted by deregulation in 1975, the brokerage industry has tremendously changed. Before, the full service brokers used to supply their investors who are mostly rich professionals with brokering services, financial advices and access to privileged information. Information technology has helped the market to grow rapidly to a wider base of customers, and there are more new players such as discount broking, information only firms joining in this market. Because of the Internet, the access to the information is much easier. People prefer to buy directly some shares on Schwab.com rather than to choose a traditional investor that would give them some advice on the management of their assets.
Besides, Schwab has chosen to differentiate itself by offering a larger range of products. Thus, the company hopes to attract new customers by providing strategic information and expert advice. The strategy of the firm consists to expand its service and leverage its brand name. .
Schwab provides a lot of products and services such as retail brokerage, mutual funds, and support services for independent investment managers. Schwab established four regional telephone service centers and customers can place orders 24 hours a day and 7 days a week. In 2000, over 70% of the 110 million customers calls received by Schwab were handled by this system.
The Charles Schwab Mission/Purpose/Vision: Charles Schwab's mission is to provide customers with the most useful and ethical financial services in the world. They also focus on offering expert personalized advice that is not commission driven, a tremendous range of investment options, and the most ...
