Charles Schwab Australia provides investors simpler US market access

Charles Schwab Australia provides investors simpler US market access 

Sydney, 17 November 2017: Australian investors can now access US markets in an easy and cost-effective way through Charles Schwab Australia.

Following its acquisition of Chicago-based US broker dealer optionsXpress, Charles Schwab has re-established a presence in the Australian market. Schwab now provides self-directed Australian investors the opportunity to diversify their portfolios through simple, low-cost access to the most diversified, liquid markets in the world.

Managing Director of Charles Schwab Australia, JP Drysdale, said Charles Schwab Australia presents Australian investors with an alternative to high pricing while still offering high-quality client experience.

“At Charles Schwab we believe all Australians should have greater access to international investing and in doing so have the ability to diversify their portfolios and access opportunities beyond Australia.”

“Typically, access to US markets for self-directed investors, including SMSFs, is expensive compared to the costs of transacting in the Australian market. However, we believe there need not be trade-offs between price and customer service. Our ambition is to bring cost-effective access to US markets to all Australian investors - and with the popularity and ongoing growth of self-managed super funds in Australia we see a clear demand for that access,” Drysdale said.

Charles Schwab Australia offers self-directed Australian investors access to US-listed equities; offshore mutual funds; ETFs; fixed income; options and futures. At just $4.95 (USD) per online equity trade, Charles Schwab Australia provides an alternative to the traditional investment industry.

“Australian investors are savvy investors who understand the need to diversify, however access to international markets, and especially US markets, has remained difficult for them,” Drysdale said.

“Simple, low-cost access to US markets means Australian investors can invest in global leading companies they engage with on almost a daily basis but until now have not had a simple, cost-effective way to make them part of their investment portfolios,” Drysdale added.

Charles Schwab Australia is a wholly owned subsidiary of the Charles Schwab Corporation, a US bank and brokerage firm founded in 1971. The Charles Schwab Corporation recently announced a net income of $618 million for the third quarter of 2017, up 7% from $575 million from the prior quarter and up 23% from $503 million from the prior corresponding period. Net income for the nine months to September 30, 2017 was $1.8 billion, up 29% from the year-earlier period.

The Charles Schwab Corporation also saw clients open more than 100,000 new brokerage accounts each month during the third quarter, marking a record tenth straight month in excess of 100,000. As of 30 September 2017, the group services 10.6 million active brokerage accounts. New retail brokerage accounts for the quarter totalled approximately 216,000, up 29% year-over-year, with retail brokerage accounts now totalling 7.3 million, up 4% year-over-year. 

- ENDS –

About Charles Schwab:
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 345 offices and 10.6 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.2 million banking accounts, and $3.18 trillion in client assets as of September 30, 2017. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial - 3 - planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

About Charles Schwab Australia:

Charles Schwab Australia Pty Ltd., a subsidiary of The Charles Schwab Corporation, provides investment products and services to help individuals access and navigate the U.S. market. Investors can take advantage of Schwab’s online tools and resources as well as work closely with its Australian-based licensed investing professionals. Schwab champions investors and believes everyone should have opportunity to achieve great financial outcomes. Whether you are new to U.S. investing or an active trader, Schwab is here to serve you through our office in Sydney, online, or 24/5 by phone at 1300-781-132. (1117-7R2M)

Press contact:

Kerrie Sydee
Edelman for Charles Schwab
kerrie.sydee@edelman.com
+61 (02) 9018 3381