Charles Schwab announced a significant branch network expansion Wednesday to serve its growing retail client base, with plans to add 16 new offices and hire over 400 people for new branch-related roles, including financial and wealth consultants.
After adding the new branches to the nearly 400 it already operates and expanding or relocating 25 existing offices, Schwab said it will operate over 40 new locations across the U.S. The company has opened several new branches already.
The new wealth consultants will partner with financial consultants to serve Schwab's high-net-worth and ultra-high-net-worth clients.
“We know that face-to-face relationships and support are invaluable to investors as thousands of clients visit our branches on a daily basis,” said Jeannie Bidner, Schwab's branch network head. While more clients interact with Schwab online and on mobile devices, "our branch network is without a doubt a competitive differentiator for Schwab," she added.
Five new branches and one relocated branch are in Florida, with new offices situated in Palm Beach Gardens, Aventura and Marco Island. In California, Schwab plans to add three branches in Monarch Beach and Manhattan Beach in Southern California and in San Francisco's Mission Bay, and to relocate or expand six other offices. Schwab also is adding two locations in greater Austin.
Schwab said it is seeing record client growth, with 2.3 million new brokerage accounts and $218 billion in new assets across the firm in the first half of this year. Retail assets and households at Schwab have increased fourfold over the past eight years, the company said.
Besides the new branch jobs, Schwab said it is adding a significant number of roles across its U.S. corporate offices, recruiting for professional positions including client service, wealth management, digital innovation and AI development, with many based in Texas, California, Colorado, Florida and Nebraska.
This recruitment follows the addition of 2,300 new employees in the first half of 2025, Schwab said.
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