Schwab is managing to win over young investors

Group 1 - The financial services industry is actively trying to attract Gen Z consumers, similar to media companies and other consumer brands [1] - Robinhood and Coinbase have expanded their offerings beyond stock and crypto trading, positioning themselves as potential bank replacements [2] - Charles Schwab has successfully reduced the average age of its customers by 10 years, now primarily attracting individuals in their 40s [4] Group 2 - Nearly one-third of new retail households at Schwab are Gen Z investors aged 13 to 28, indicating a significant shift in their customer base [5] - Schwab's strategy includes enhancing its YouTube presence, recognizing that Gen Z learns about finances mainly through social media [6] - The company is expanding its asset classes for trading and plans to introduce spot trading for bitcoin, while also offering traditional banking services [7] Group 3 - Investing has gained cultural significance for young people, who view it as a means to achieve financial freedom and escape economic hardships [9]