Charles Schwab

User comments reveal a complex picture of Charles Schwab across multiple dimensions. On the positive side, Schwab is widely credited as a catalyst for commission-free trading across the industry — a move users called a 'game changer' that forced competitors to follow suit (+425, +383 upvotes). Multiple users praise the company's customer service as 'second to none' (+145). However, a substantial cluster of highly-upvoted HackerNews comments from early 2023 raise serious concerns about Schwab's financial stability in the wake of the SVB collapse. Users note that Schwab's held-to-maturity unrealized losses stood at $15.58 billion against tangible common equity of $17.44 billion — an alarming 89% ratio (compared to SVB's 128%). Schwab paid a 'pitiful' 0.5% on cash deposits while customers moved assets to higher-yielding alternatives, pressuring both deposits and Schwab's net interest revenue (which accounts for 57% of total revenue). One former equity analyst noted that Schwab's deposits declined from over $450 billion at peak. Multiple commenters clarified that customer securities are held 1:1 and cannot be tapped to cover losses, and SIPC insurance covers up to $500k per account. A current Schwab employee (+50) described a forced return-to-office policy after extended WFH, and a customer filed a formal complaint threatening to move their money if the policy didn't change, citing loyalty to the workers who 'helped me out tons over the years.'

No aggregate ratings were found for this product during the last harvest.