Charles Schwab announces branch network expansion

Charles Schwab (SCHW) revealed details of a significant expansion of its branch network, underscoring the firm’s commitment to serve its fast-growing retail client base through a range of channels, including in-person guidance, relationships, and service. Schwab currently operates nearly 400 branches across the United States – locations that play a critical role in serving clients as well as driving client and asset growth for the firm. Schwab is adding 16 new branches and expanding or relocating 25 existing locations to increase capacity and optimize real estate, totaling more than 40 new locations across the country. Several new branches have already opened, and additional locations will be opening soon. As Schwab builds out and enhances its branch geographic footprint, the firm is also planning to hire more than 400 new branch-related roles, including financial consultants and wealth consultants who partner with financial consultants to serve wealth management needs for Schwab high net worth and ultra-high net worth clients.