Uploaded July 2026 | Updated September 2026, 1 week ago
Charles Schwab has grown from a small discount brokerage into one of the largest financial services firms in the world. In this week's episode of Bloomberg Wealth, President and CEO Rick Wurster joins David Rubenstein to discuss the company's 50-year mission of making investing more accessible, how Schwab now oversees $13 trillion in client assets, and why he believes long-term investing continues to outperform trying to time the market. Wurster also shares leadership lessons from Schwab himself, and explains how the firm is navigating the future of investing. This interview was recorded May 1 in New York.
Chapters:
00:02:46 - How Charles Schwab Was Founded
00:04:06 - How Schwab Makes Money
00:05:16 - Keeping Clients at Schwab
00:07:34 - Inside Charles Schwab's $13 Trillion Business
00:07:44 - Schwab has 47 million client accounts
00:09:48 - The Fed, Rates & the Economy
00:10:21 - Trump Accounts Explained
00:11:51 - Should Schwab Offer Prediction Markets?
00:13:33 - Rick Wurster's Career Journey
00:20:09 - The Biggest Change in Investing
00:20:59 - The Biggest Mistakes Investors Make
00:21:36 - What Schwab Looks for in New Hires
00:23:15 - Would He Serve in Government?
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Like this video? Subscribe to The David Rubenstein Show on YouTube:
youtube.com/channel/UCqsN9MYiu1mKSAsYoF6ppTg
Watch the latest episodes of "The David Rubenstein Show: Peer-to-Peer Conversations" here:
bloomberg.com/peer-to-peer
Learn more about David:
davidrubenstein.com
Connect with us on...
Twitter: twitter.com/business
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Charles Schwab has grown from a small discount brokerage into one of the largest financial services firms in the world. In this week's episode of Bloomberg Wealth, President and CEO Rick Wurster joins David Rubenstein to discuss the company's 50-year mission of making investing more accessible, how Schwab now oversees $13 trillion in client assets, and why he believes long-term investing continues to outperform trying to time the market. Wurster also shares leadership lessons from Schwab himself, and explains how the firm is navigating the future of investing. This interview was recorded May 1 in New York.
Chapters:
00:02:46 - How Charles Schwab Was Founded
00:04:06 - How Schwab Makes Money
00:05:16 - Keeping Clients at Schwab
00:07:34 - Inside Charles Schwab's $13 Trillion Business
00:07:44 - Schwab has 47 million client accounts
00:09:48 - The Fed, Rates & the Economy
00:10:21 - Trump Accounts Explained
00:11:51 - Should Schwab Offer Prediction Markets?
00:13:33 - Rick Wurster's Career Journey
00:20:09 - The Biggest Change in Investing
00:20:59 - The Biggest Mistakes Investors Make
00:21:36 - What Schwab Looks for in New Hires
00:23:15 - Would He Serve in Government?
--------
Like this video? Subscribe to The David Rubenstein Show on YouTube:
youtube.com/channel/UCqsN9MYiu1mKSAsYoF6ppTg
Watch the latest episodes of "The David Rubenstein Show: Peer-to-Peer Conversations" here:
bloomberg.com/peer-to-peer
Learn more about David:
davidrubenstein.com
Connect with us on...
Twitter: twitter.com/business
Facebook: facebook.com/bloombergbusiness
Instagram: instagram.com/bloombergbusiness
