Schwab's relentless innovation has redefined the brokerage business several times already
Former equity analyst and portfolio manager Charles R. "Chuck" Schwab founds the brokerage to exploit the end of fixed-price stock trading commissions in May, 1975.
Opens first branch in Sacramento. Now has 400 branches nationwide.
Schwab sells his firm to Bank of America for $57 million, but quickly becomes dissatisfied and buys it back within four years.
Launches Telebroker, a touch-tone trading and quote system.
Introduces OneSource, a mutual-fund supermarket allowing customers to buy fund shares without paying loads or fees.
Begins online trading, a business it now dominates with over 37% of $920 billion in online account assets.
Announces merger with U.S. Trust, a 149-year-old adviser to multimillionaires.
Takes on Wall Street directly with launch of Schwab Private Client and Schwab Equity Rating stock-picking system.