The Charles Schwab Company is based in San Francisco, California, and is one of the biggest brokerage and banking firms in the US. Founded by Charles R. “Chuck” Schwab in 1971 as a traditional investment letter publisher and brokerage firm, it was known initially as the First Commander Corporation but two years later changed its name to Charles Schwab & Co., Inc.

Below are the latest Charles Schwab fees.

Services Fees

Minimum to Open Account

Type of Account Minimum to Open
Brokerage Account (Individual and Joint)$1000.00
Rollover IRA and Inherited IRA$1000.00
Traditional IRA and Roth IRA$1000.00
529 College Savings Plan$25.00
Education Savings Account$1000.00
Custodial Account$100.00
Custodial IRA$100.00
Trust Account$1000.00
Estate Account$1000.00
Schwab Bank High Yield Investor Checking$0.00
Schwab Bank High Yield Investor Savings$0.00

Personal Defined Benefit Plan

One Person Only$750.00
Key Employees Only$1000.00
Employees With Staff$1200.00 + $50 per participant


The company’s story began in 1963 when Charles R. “Chuck” Schwab and a couple of his associates started up the Investment Indicator newsletter. The newsletter proved popular and reached over 3,000 subscribers, and from there the First Commander Corporation was born. The new company, established in California, was created to publish the newsletter and also offer several brokerage services.

In 1973 the company changed its name to Charles Schwab & Co., Inc. and two years later the company opened a new location in Sacramento, California. It was also during this period that the company began providing seminars for their clients. The service proved to be popular and by 1979 the company had over 84,000 clients. By 1980 their client accounts had reached 150,000 and Schwab was enlisted in the NYSE.

The following year in 1982, the company made history by being the first to provide 24/7 order entry and quotes, and a branch was opened in Hong Kong. By this time the company’s clients numbered close to 400,000.


As the years went by, the Charles Schwab Company would grow and make several acquisitions. In 2000, the company bought U.S. Trust for $2.7 billion, and six years later, the Schwab sold US Trust for $3.3 billion to Bank of America. The deal, which had been anticipated for a time, was finished by the 2nd quarter of 2007.

However, Charles Schwab wasn’t content with just buying and selling US Trust, as they also bought SoundView Technology Group in 2003 for a sum of $345 million. According to a company spokesperson, the purchase was made to combine Charles Schwab’s expertise in executing trades with the equity research content provided by SoundView. Before the purchase, SoundView had already gotten a 57% market price premium.

Charles Schwab Fees, Services and Finances

charles schwab feesIt was on May 1, 1975 when the company began providing discount brokerage and subsequently became one of the largest discount brokers not just in the US but the world. Presently, Charles Schwab offers several brokerage services but at a lower fee than most of the competition.

As of 2014, the company’s revenue stood at US$2.96 billion and as of 2009 had an operating income of US$1.28 billion. The company has an asset value (estimated as of 2011) of $1.65 trillion, with a total of 12,500 employees. Currently Charles Schwab serves about 8 million client brokerage accounts in over 300 offices in the United States. They also have an office in Puerto Rico and a London branch.

The Charles Schwab is best known for discount brokerage, but they also offer other services related to mortgages as well as savings, checking, bond trading, mutual funds and investment research.

For more information on Charles Schwab and Charles Schwab fees, visit their official website.

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