Charles Schwab Announces Branch Network Expansion and the Addition of 400 Branch-Related Roles to Meet Increasing Client Needs and Fuel Further Growth

Charles Schwab today 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.

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Charles Schwab recently opened a new branch in downtown Austin.

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.

“We know that face-to-face relationships and support are invaluable to investors as thousands of clients visit our branches on a daily basis,” said Jeannie Bidner, Head of Branch Network at Schwab. “While we continually enhance our award-winning digital platforms and see an increasing number of clients interact with us online and on mobile, our branch network is without a doubt a competitive differentiator for Schwab and a critical part of how we help clients build trusted relationships and achieve their financial goals. We’re excited to expand into new communities – as well as build out our presence in many communities where we are already located - to work with an even larger number of clients.”

Schwab Branch Growth and Expansion

Five of Schwab’s new branches and one of the relocated branches are in Florida, reflecting increasing demand for local branch services in that region. The new Florida branch locations include Palm Beach Gardens, Aventura and Marco Island.

Schwab will also add three new branches in California—in Monarch Beach and Manhattan Beach in Southern California, as well as in the Mission Bay area of San Francisco. Schwab will also relocate or expand six additional branch locations in California.