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Schwab CEO says his firm will attract new customers with wealth building instead of meme coins and gambling
Key takeaways
- The investment services giant is aiming to close that gap by integrating AI into its tried and true wealth-building recipe while dodging the so-called “transactions business” race younger upstarts are running.
- “We are in the outcomes business,” said Wurster, who spoke with Yahoo Finance from Schwab’s Westlake, Texas, headquarters.
- In February, Schwab began facing investor concern that it might end up on the wrong side of the AI era.
Schwab CEO says his firm will attract new customers with wealth building instead of meme coins and gambling David Hollerith · Senior Reporter Mon, May 25, 2026 at 9:34 PM GMT+7 4 min read SCHW Charles Schwab (SCHW) CEO Rick Wurster says his company s stock deserves a higher valuation.
The investment services giant is aiming to close that gap by integrating AI into its tried and true wealth-building recipe while dodging the so-called “transactions business” race younger upstarts are running.
“We are in the outcomes business,” said Wurster, who spoke with Yahoo Finance from Schwab’s Westlake, Texas, headquarters. The brokerage isn’t planning to add meme coins, prediction markets, or an AI-powered cash sorter, he added.
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