Charles Schwab: We are the Walmart of investing
Charles Schwab Corporation founder Charles Schwab describes the technological advances the company has made to help investors.
The investing world changes constantly, and one brokerage firm is ensuring it remains competitive by approaching its business the way the retail giant Walmart operates.
“We're sort of like the Walmart of investing,” Charles Schwab Corp. founder and chairman Charles Schwab said during an interview on FOX Business’ "Maria Bartiromo's Wall Street Week.” “We keep our costs very low, and we don't have a lot of excessive expenditures, and therefore we deliver to our clients a better value. That's what we try to do every day.”
The discount brokerage has invested in infrastructure and technology to offer clients the best value and overall experience, according to Schwab.
“We try to be on the cusp, on the edge all the time of new things that will make their life easier, better and more comfortable,” he said.
Volatility does not intimidate investors, who should consider investing for the future, according to Schwab.
“They understand that the stock markets, markets in general, certainly go up and down,” he told Bartiromo. “They just have to be a long-term investor.” In February, U.S. equities saw a seesaw reaction, with stocks posting 1,000-point declines.
Schwab says students should start to become financially literate at an early age.
“I wish some of that would be happening in schools,” he said.