Charles Schwab vs Fidelity Investments: Founders, CEOs and History
Charles Schwab was founded in 1971 by Charles R. Schwab and is led by Rick Wurster. Fidelity Investments was founded in 1946 by Edward C. Johnson II and is led by Abigail Johnson.
Company facts
Charles Schwab
- Founded
- 1971
- Headquarters
- Westlake, Texas
- Current CEO
- Rick Wurster
- Employees
- 33,000
Fidelity Investments
- Founded
- 1946
- Headquarters
- Boston, Massachusetts
- Current CEO
- Abigail Johnson
- Employees
- 80,000
Founders
Charles Schwab
Charles R. Schwab
Charles R. 'Chuck' Schwab founded the company in San Francisco in 1971 as First Commander Corporation, an investment newsletter and small brokerage. Before 1975, brokerage commissions were fixed, which made frequent investing expensive for ordinary savers.
Fidelity Investments
Edward C. Johnson II
Edward C. Johnson II (1898-1984) founded Fidelity Management & Research in Boston in 1946 after taking over management of the Fidelity Fund in 1943.
CEOs and their tenures
Charles Schwab
- Mike Verdeschi
Managing Director and Chief Financial Officer
Mike Verdeschi is Schwab's CFO and presents its quarterly results, including the record Q2 2026 GAAP EPS of $1.54 and the $11.8 billion of capital returned to shareholders in 2025.
Source - Walter W. Bettinger II2008–2024
Co-Chairman and Former CEO
Walt Bettinger joined Schwab in 1995 when it bought The Hampton Company, the retirement-plan firm he founded, and became CEO in October 2008.
Source - Richard A. Wurster2025–present
President and Chief Executive Officer
Rick Wurster became President and CEO on January 1, 2025, after joining Schwab in 2016 and serving as President of the company from October 2021, when he oversaw much of the TD Ameritrade integration.
Source
Fidelity Investments
- Edward C. 'Ned' Johnson III1977–2014
Former Chairman and CEO
Ned Johnson is the undeniable architect of the modern Fidelity empire. During his nearly four-decade tenure, he transformed the firm from a mid-sized Boston mutual fund shop into a globally dominant financial services giant, expanding assets under management f…
Source - Abigail P. Johnson2014–present
Chairman and Chief Executive Officer
Johnson has managed the delicate transition of a multi-generational family business into the modern digital era without sacrificing its core cultural identity.
Source
Timeline: Charles Schwab and Fidelity Investments side by side
1946Fidelity Investments
Fidelity Founded
Edward C. Johnson 2d founds Fidelity Management and Research in Boston.
1960Fidelity Investments
Johnson Family Expansion Era
Fidelity expands its mutual fund and investment-management capabilities under Johnson family leadership.
1971Charles Schwab
Company Founded
Charles R. Schwab founded the business that became a discount brokerage pioneer.
1975Charles Schwab
Discount Brokerage Breakthrough
Brokerage commission deregulation allowed Schwab to challenge full-service Wall Street pricing.
1980Fidelity Investments
Brokerage and Retirement Scale
Fidelity grows beyond funds into brokerage and workplace retirement relationships.
1987Charles Schwab
Independence and NYSE IPO
Schwab bought the firm back from BankAmerica in a management buyout and listed on the New York Stock Exchange in September 1987.
2011Charles Schwab
Acquired OptionsXpress
Charles Schwab acquired OptionsXpress in 2011.
2012Charles Schwab
Acquired ThomasPartners
Charles Schwab acquired ThomasPartners in 2012.
2014Fidelity Investments
Abigail Johnson Becomes CEO
Abigail P. Johnson becomes Fidelity's CEO, later becoming chairman in 2016.
2018Fidelity Investments
Digital Assets Expansion
Fidelity expands institutional digital-asset capabilities as crypto moves into mainstream financial markets.
2019Charles Schwab
Zero-Commission Trading
Schwab eliminated online stock and ETF commissions, pushing the industry into a new pricing model.
2020Charles Schwab
TD Ameritrade Acquisition
Schwab completed its acquisition of TD Ameritrade, adding scale and the thinkorswim platform.
2025Charles Schwab
Rick Wurster Becomes CEO
Rick Wurster succeeded Walt Bettinger as CEO on January 1, 2025; Schwab ended the year with $23.921 billion in net revenues and $8.852 billion in net income.
2025Fidelity Investments
Revenue Reaches $37.7B
Fidelity reports $37.7 billion in revenue (up 15%), a record $12.7 billion in operating income, $18 trillion in assets under administration and 57 million customers.
2025Fidelity Investments
Fidelity Trader+ Launch
Fidelity launches Fidelity Trader+ in September 2025 for active traders; it averaged about 1.4 million users by year-end.
2026Charles Schwab
Forge Global Acquisition Closes
Schwab completed its $660 million all-cash acquisition of private-markets platform Forge Global on March 2, 2026.
2026Charles Schwab
Record Q2 and $13 Trillion in Client Assets
Q2 2026 net revenues reached a record $7.072 billion and client assets hit $13.08 trillion; Schwab also launched Schwab Crypto spot trading.
Acquisitions
Charles Schwab
- Forge Global Holdings, Inc.2026$660M
- TD Ameritrade Holding Corporation2020$26B
- Motif Investing (Technology Assets)2020Undisclosed
- OptionsXpress Holdings, Inc.2011$1B
- U.S. Trust Corporation2000$2.7B
Fidelity Investments
- Shoobx2023Undisclosed
- eMoney Advisor2015Undisclosed
Questions about Charles Schwab vs Fidelity Investments
Who is the CEO of The Charles Schwab Corporation and Fidelity Investments?
The Charles Schwab Corporation is led by Rick Wurster and Fidelity Investments is led by Abigail Johnson. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was The Charles Schwab Corporation founded vs Fidelity Investments?
Fidelity Investments was founded in 1946 — 25 years before The Charles Schwab Corporation, which was founded in 1971. Fidelity Investments's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger The Charles Schwab Corporation.
How many employees does The Charles Schwab Corporation have compared to Fidelity Investments?
The Charles Schwab Corporation employs approximately 33,000 people, while Fidelity Investments employs approximately 80,000. Fidelity Investments has the larger workforce at 80,000 employees, compared to The Charles Schwab Corporation's 33,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are The Charles Schwab Corporation and Fidelity Investments headquartered?
Both The Charles Schwab Corporation and Fidelity Investments are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded The Charles Schwab Corporation and Fidelity Investments?
The Charles Schwab Corporation was founded by Charles R. Schwab. Fidelity Investments was founded by Edward C. Johnson II.
Which company has a longer operating history — The Charles Schwab Corporation or Fidelity Investments?
Fidelity Investments has been operating for approximately 80 years, making it the more established of the two companies. The Charles Schwab Corporation has been in operation for around 55 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Charles Schwab vs Fidelity Investments overview