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Purpose and benefits

Charles Schwab started in business early. A natural entrepreneur, at Stanford he also discovered a talent for stock picking. After graduation he set up his own mutual fund and then in 1971 his own company, Charles Schwab & Co. The company was one of the first to offer discounted broking services when the Securities and Exchange Commission (SEC) abolished fixed commissions in 1975. In 1995 Schwab was quick to utilise the efficiencies of the Internet to deliver even cheaper services to clients through the online e.Schwab. By 2001 four out of five of Schwab’s customers were trading online.