Schwab Introduces Differentiated Experiences to Support High Net Worth Investors

Charles Schwab & Co., Inc., today announced the introduction of new branded and differentiated client experiences for High Net Worth (HNW) and Ultra-High Net Worth (UHNW) clients. Effective today, retail clients with more than $1 million in assets at Schwab will be automatically enrolled in Schwab Private Client Services, and clients with more than $10 million will be enrolled in Schwab Private Wealth Services. Both programs consist of a complimentary suite of benefits providing dedicated and specialized service, pricing advantages, and other rewards to meet the unique needs of these wealthy clients.

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“These new experiences reflect our commitment to deliver meaningful differentiation for the growing number of wealthy clients we serve, who are increasingly attracted to our breadth of services and outstanding value,” said Jonathan Craig, Managing Director and Head of Investor Services at Charles Schwab. “While we have been providing some of these benefits to clients for some time, we’re excited to introduce new benefits and package them all together into a premier experience, and we will continue to build on it with additional benefits and capabilities in the future.”

While Schwab continues to meet the needs of clients at all asset levels and see growth from a wide range of investors, the HNW and UHNW client segments are among the fastest-growing client segments at Schwab, representing more than two-thirds of the firm’s total retail client assets today. Clients with more than $1 million at Schwab are growing at a rate of more than 10% annually over the last five years, and clients with more than $10 million at the firm are growing at a rate of nearly 20% annually over the last five years.¹

As part of these new experiences, all HNW and UHNW clients have access to a dedicated Schwab consultant who is responsible for their overall relationship with Schwab, at no additional cost to them. This consultant can help clients manage their financial life, help them choose the right level of advice or services they need, create a personalized financial plan, and connect them to a range of Schwab’s wealth management specialists.

Every client enrolled in Schwab Private Client Services and Schwab Private Wealth Services receives:

• Priority assistance and specialized service from Schwab’s highly tenured and skilled support teams with fast response times.
• Pricing benefits across Schwab’s bank and broker-dealer solutions, including Investor Advantage Pricing² which provides discounts on mortgage rates that are aligned with qualifying assets held at Schwab and Schwab Bank, and unlimited free domestic wire transfers through in brokerage accounts.
• Expanded Borrowing Choices with a Schwab Bank Pledged Asset Line®*
• Access to a range of experienced wealth management specialists³ on topics including tax, trust and estate planning, equity compensation, retirement planning, trading, and education and family support.
• Eligibility for Annual Schwab Appreciation Bonus with the Platinum Card® from American Express for Charles Schwab.⁴
• Curated insights on investing and planning topics from Schwab experts.
• Access to specialized events including investing and market outlook events and exclusive experiences.

*See schwab.com/pal for important additional information, including risks. Pledged Asset Lines are available to all qualifying Schwab clients.

Schwab Private Wealth Services clients will also have an integrated banking and wealth management experience with access to a Senior Banker from Charles Schwab Premier Bank, SSB, to consult on a full range of banking needs and help design personalized borrowing strategies.

“These branded experiences underscore Schwab’s ability to meet the specific needs of our wealthier clients, but we are equally committed to ensuring that every client at Schwab receives a great experience, from those just getting started to those building wealth,” said Craig. “We are proud to offer a range of services and capabilities for investors at every stage of their investing journey with a focus on delivering low costs and great value, products and experiences that make investing easy and accessible, and exceptional client service.”

For our affluent clients seeking advisory services, Schwab also offers a range of specialized investment management solutions to help clients meet goals ranging from steady income or diversification to more customized investing, including Schwab Wealth Advisory™, Schwab Personalized Indexing™, and Schwab Advisor Network®, the referral network serving investors throughout the nation with referrals to independent Registered Investment Advisors.

Earlier this year, Schwab earned the highest ranking in overall investor satisfaction among full-service wealth management firms in the J.D. Power 2023 U.S. Full-Service Investor Satisfaction Study℠, which evaluates the experiences of more than 6,000 investors across 20 wealth management firms.⁵

Schwab’s broad set of wealth and investment management solutions are backed by a Satisfaction Guarantee⁶ unique among competitive wealth advisory offers. If a Schwab client is not satisfied for any reason, Schwab will refund any eligible commission, transaction fee or advisory program fee paid to the firm.

About Charles Schwab

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.3 million active brokerage accounts, 2.4 million corporate retirement plan participants, 1.8 million banking accounts, and $7.65 trillion in client assets as of May 31, 2023. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC, https://www.sipc.org), and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiaries, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender) and Charles Schwab Premier Bank, SSB (member FDIC) provide banking and lending services and products. More information is available at https://www.aboutschwab.com.

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc., and The Toronto-Dominion Bank.

Disclosures

¹Schwab Retail business data through June 30, 2023.

² Investor Advantage Pricing (IAP): Loans are eligible for only one IAP discount per loan. Select mortgage loans are eligible for an interest rate discount of 0.250% - 1.000% based on qualifying assets of $250,000 or greater. Discount for ARMs applies to initial fixed-rate period only. Qualifying assets are based on Schwab and Schwab Bank combined account balances, including select brokerage, bank, and retirement accounts. www.Schwab.com/IAP

³As part of this offer, Schwab clients have access to specialists that provide advice on more complex issues including legal, tax, and retirement strategies. This access is part of the complimentary offer, but payment for their services beyond the initial consultation is not.

⁴ Bonus may be taxable. The Platinum Card® from American Express for Charles Schwab under this program is issued by American Express National Bank and not Charles Schwab & Co., Inc. ("Schwab"). Schwab is the broker-dealer subsidiary of The Charles Schwab Corporation. Brokerage products, including the Schwab One® brokerage account, are offered by Schwab, Member SIPC.

This benefit is only available to the Basic Card Member on the Platinum Card® from American Express Exclusively for Charles Schwab, and will be awarded based on either 1) the Basic Card Member’s membership in Schwab Private Wealth Services or 2) the Basic Card Member’s Qualifying Schwab Holdings, in each case as described below. Basic Card Members may only receive one Schwab Appreciation Bonus each year of Card Membership.

Schwab Appreciation Bonus Measurement Dates

Your membership in Schwab Private Wealth Services, or Qualifying Schwab Holdings will be measured within five business days after (a) Card account approval and (b) the first calendar day of your annual Card account renewal month (each date, a “Measurement Date”).

Schwab Appreciation Bonus Amounts

If on a Measurement Date either:

(1) your Qualifying Schwab Holdings are:

(i) equal to or greater than $250,000 and less than $1,000,000, you will receive a $100 Card statement credit;

or (ii) equal to or greater than $1,000,000 and less than $10,000,000, you will receive a $200 Card statement credit;

or (iii) equal to or greater than $10,000,000, you will receive a $200 Card statement credit and an $800 cash bonus award deposited into your Schwab Brokerage or IRA account.

Or (2) you are a member of Schwab Private Wealth Services you will receive a $200 Card statement credit and an $800 cash bonus award deposited into your Schwab Brokerage or IRA account.

Terms and Conditions for the Schwab Private Wealth Services program apply; visit schwab.com/programdetails for more information.

Consult with your tax advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt before applying. Any related taxes are your responsibility. For taxable accounts, the bonus may be reported on your Form 1099-MISC.

Qualifying Schwab Holdings

Qualifying Schwab Holdings are the sum of the following assets and obligations: (1) the aggregate assets held in the following non-retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: individual, joint, revocable living trusts (where the grantor and trustee are the same), testamentary trusts, custodial, 529, guardianship, conservatorship, estate, usufruct, and life estate accounts; plus (2) the aggregate assets held in the following retirement Schwab Brokerage Account types over which the Basic Card Member is an owner, grantor or trustee: Traditional Individual Retirement Accounts (“IRAs”), Roth and Roth Conversion IRAs and Rollover IRAs, but excluding IRAs, Roth and Roth Conversion IRAs and Rollover IRAs that are managed by an independent investment advisor pursuant to a direct contractual relationship between the Basic Card Member and such independent investment advisor; plus (3) the aggregate assets held in the following Schwab Bank Account types over which the Basic Card Member is an owner or grantor: checking, savings, and pledged asset accounts; plus (4) the outstanding mortgage and home equity loan balances owed to Schwab Bank by the Basic Card Member. Retirement assets not held in accounts listed above are excluded.

Please allow 6 - 8 weeks after calculation for the Schwab Appreciation Bonus to be posted. To receive this benefit, your Card account must be active and not in default at the time of fulfillment. Your Schwab Brokerage and Schwab Bank Account types are described on your account statements available at www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). You can view your Schwab Brokerage and Schwab Bank balances on the Account Summary page of www.schwab.com (or www.schwaballiance.com for clients of independent investment advisors). For questions about your Qualifying Schwab Holdings, please contact Schwab at 866-385-1227. Only Qualifying Schwab Holdings, or membership in Schwab Private Wealth Services, in each case as of each Measurement Date, will be evaluated to determine eligibility for this benefit. For questions about your annual Card account renewal month, please call the number on the back of your Card.

⁵Charles Schwab received the highest score in the J.D. Power 2023 U.S. Full-Service Investor Satisfaction Study, which measures investor satisfaction with full-service investment firms. Visit jdpower.com/awards for more details. The J.D. Power 2023 U.S. Full-Service Investor Satisfaction Study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee.

⁶If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc.

(“Schwab”), Charles Schwab Bank, SSB (“Schwab Bank”), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern. Refund requests must be received within 90 days of the date the fee was charged. Two kinds of “Fees” are eligible for this guarantee: (1) “Program Fees” for the Schwab Wealth Advisory (“SWA”), Schwab Managed Portfolios™ (“SMP”), Schwab Intelligent Portfolios Premium® (“SIP Premium”), and ManagedAccountConnection® (“Connection”)investment advisory services sponsored by Schwab (together, the “Participating Services”); and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors or the Charles Schwab Bank Pricing Guide.

Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, (“Schwab Bank”), Charles Schwab Premier Bank, SSB, (“Schwab Affiliated Banks”) and Schwab Wealth Advisory, Inc., are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation (“Schwab”). Brokerage products and services are offered by Charles Schwab & Co., Inc., (Member SIPC). Deposit and lending products and services are offered by Charles Schwab Bank, SSB, (Member FDIC and an Equal Housing Lender), and Charles Schwab Premier Bank, SSB, (Member FDIC). Charles Schwab & Co., Inc. does not solicit, offer, endorse, negotiate, or originate any mortgage loan products and is neither a licensed mortgage broker nor a licensed mortgage lender. Home lending is offered and provided by Rocket Mortgage®, LLC. Equal Housing Lender. NMLS #3030. Rocket Mortgage, LLC is not affiliated with The Charles Schwab Corporation, Charles Schwab & Co., Inc., Charles Schwab Bank, SSB, Charles Schwab Premier Bank, SSB, and Schwab Wealth Advisory, Inc.

For more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. The Connection service includes only accounts managed by Charles Schwab Investment Management, Inc., an affiliate of Schwab. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Schwab or managed by Schwab‐affiliated advisors outside of the SWA, SMP, SIP Premium, and Connection services.

The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses, and no market losses will be refunded. Other restrictions may apply. Schwab reserves the right to change or terminate the guarantee at any time.

Schwab Advisor Network (“SAN”) advisors are independent and are not employees or agents of Charles Schwab & Co., Inc. (“Schwab”). Schwab prescreens advisors and checks their experience and credentials against criteria Schwab sets, such as years of experience managing investments, amount of assets managed, professional education, regulatory licensing, and business relationship as a client of Schwab. Advisors pay fees to Schwab in connection with referrals. Schwab does not supervise advisors and does not prepare, verify, or endorse information distributed by advisors. Investors must decide whether to hire an advisor and what authority to give the advisor. Investors, not Schwab, are responsible for monitoring and evaluating an advisor’s service, performance, and account transactions. Services may vary depending on which advisor an investor chooses.

Portfolio Management provided by Schwab Wealth Advisory, Inc., a Registered Investment Advisor and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Wealth Advisory and the Schwab Wealth Advisory, Inc. Disclosure Brochures for information and disclosures about this program. The Wealth Advisor, Associate Wealth Advisor, and other representatives making investment recommendations in your Schwab Wealth Advisory accounts are employees of Schwab Wealth Advisory, Inc.

Please refer to the Charles Schwab Investment Management, Inc. Disclosure Brochure for additional information.

Schwab Personalized Indexing is available through Schwab’s Managed Account Connection® program (“Connection”). Please read Schwab’s disclosure brochure for important information and disclosures relating to Connection and Schwab Managed Account Services.

Portfolio Management for Schwab Personalized Indexing™ is provided by Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a registered investment adviser and an affiliate of Charles Schwab & Co., Inc. (“Schwab”). Both Schwab Asset Management and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

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