Charles Schwab Rolls out Schwab Starter Kit™ to Support First-Time Investors

Charles Schwab (Schwab), a US investment platform providing a full range of brokerage, banking and financial advisory services through its operating subsidiaries, has introduced the Schwab Starter Kit™, a new experience that aims at helping first-time investors, and is an extension of Schwab's commitment to help all investors take ownership of their financial lives and grow to become lifelong investors.

The new launch will offer beginner investors $50 to split across the top five stocks in the S&P 500, and access to tailored educational content designed to be easily digestible for someone getting started, and curated easy-to-use investing tools and resources.

The company noted that over he past 18 months, millions of new investors have made their first-ever investments in the stock market. Schwab combined with TD Ameritrade has added more than one million new brokerage accounts for four consecutive quarters – bringing year-to-date new brokerage accounts to 6.0 million.

"Schwab has had a longstanding commitment to helping people take ownership of their financial future, so we couldn't be more excited about this wave of new investors," said Jonathan Craig, Managing Director and Head of Investors Services at Schwab. "But we know that getting started as an investor can be overwhelming, and just making it easy to invest isn't enough - it's critical that we also give first-time investors the support they need to make informed decisions and succeed."

In October, Fazzaco reported that Charles Schwab has posted its financial results for the third quarter​, revealing that its net income for Q3 hit the record of $1.5 billion, surging by YoY 119%.