Charles Schwab began in 1971 as a brokerage firm and later became a pioneer in discount brokerage. The company has since expanded into a broad financial services business that includes securities brokerage, banking, asset management, custody, and financial advisory services. Schwab serves individual investors, independent advisors, and employers through brokerage accounts, retirement-related services, trading platforms, and banking products. The business remains centered on helping clients manage investing, retirement, and lending needs across its operating subsidiaries.