Question ~ Who Is Charles Schwab and What Is He Famous For?
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Answer: Who is Charles Schwab and what is he famous for?
Mr. Charles Robert Schwab Jr., 72, is founder and chairman of the Charles Schwab Corporation, now one of the world's largest discount brokers. He is the person whose name is synonymous with his business. As of March 31, 2010, the company has 7.9 million client brokerage accounts, and $1.49 trillion in assets, 300 offices and 14,600 employees in the United States.
Schwab adjusted to changes in the world of finance when fixed commissions were abolished and when online trading became popular. His brokerage provides discount brokerage, online trading, investment research, mutual funds, annuities, bond trading, and now checking and mortgages through its Charles Schwab Bank. A network of 5000 independent investment advisors works with the brokerage. Unlike other brokerages, Schwab avoided the problems of troubled mortgage-backed securities. A successful advertising campaign called "Talk to Chuck" helped build the client list.
With a fortune of approximately $4.7 billion, Charles Schwab is listed as the 50th richest person in the United States on the 2009 Forbes 400 list. He overcame the challenge of dyslexia to become a respected captain of finance. Charles Schwab is also a philanthropist and author of four books about investing.
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