Core Insights - Charles Schwab Corp. reported third-quarter earnings that exceeded estimates, driven by a surge in retail investing activity [1][3] Financial Performance - The firm reported $134.4 billion in total net new assets, a 48% increase from a year earlier, surpassing analysts' forecast of $130.2 billion [2] - Daily average trades grew 30% to 7.42 million, exceeding the expected 7.25 million [2] Growth Drivers - CEO Rick Wurster highlighted strengthening organic growth trends, increasing adoption of wealth solutions, and favorable macroeconomic conditions as key factors for record revenue and earnings per share [3] - Schwab has seen consistent interest from retail customers, with over 1 million new brokerage accounts opened for the fourth consecutive quarter [4] Market Positioning - The firm is focusing on attracting younger clients, with one-third of new retail households being Gen Z customers under 28 years old [5] - Schwab plans to introduce spot cryptocurrency trading in the first half of 2026, indicating a strategy to appeal to younger investors [5] Expansion Strategy - The company is investing in physical locations, planning to add 16 new branches and expand or relocate 25 existing locations [6] Industry Context - Schwab's earnings follow strong results from major Wall Street banks, which also benefited from heightened client interest in the stock market [7] - Schwab shares rose 0.5% following the earnings report, and the company repurchased 28.9 million shares for $2.7 billion during the third quarter as part of a $20 billion stock-buyback program [8]