Schwab ‘Slices’ Are Latest Attempt to Lure Younger Investors
- Fractions of shares designed to attract less-wealthy buyers
- New products are emerging to compensate for decline in fees
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Charles Schwab Corp. will begin offering stock “slices” to its customers next month, allowing investors to purchase fractions of shares.
The goal is to attract younger investors looking to purchase securities they normally couldn’t afford, as well as offering a way to give portions of stock to family members as gifts, Neesha Hathi, head of Schwab digital services, said in an interview. The investments start at a minimum of $5 and the maximum is $10,000, she said.