Bloomberg Wealth: Schwab CEO Rick Wurster

Charles Schwab has grown from a small discount brokerage into one of the largest financial services firms in the world. In this week's episode of Bloomberg Wealth, President and CEO Rick Wurster joins David Rubenstein to discuss the company's 50-year mission of making investing more accessible, how Schwab now oversees $13 trillion in client assets, and why he believes long-term investing continues to outperform trying to time the market. Wurster also shares leadership lessons from Schwab himself, and explains how the firm is navigating the future of investing. This interview was recorded May 1 in New York. Chapters: 00:02:46 - How Charles Schwab Was Founded 00:04:06 - How Schwab Makes Money 00:05:16 - Keeping Clients at Schwab 00:07:34 - Inside Charles Schwab's $13 Trillion Business 00:07:44 - Schwab has 47 million client accounts 00:09:48 - The Fed, Rates & the Economy 00:10:21 - Trump Accounts Explained 00:11:51 - Should Schwab Offer Prediction Markets? 00:13:33 - Rick Wurster's Career Journey 00:20:09 - The Biggest Change in Investing 00:20:59 - The Biggest Mistakes Investors Make 00:21:36 - What Schwab Looks for in New Hires 00:23:15 - Would He Serve in Government? -------- Like this video? Subscribe to The David Rubenstein Show on YouTube: https://www.youtube.com/channel/UCqsN9MYiu1mKSAsYoF6ppTg Watch the latest episodes of "The David Rubenstein Show: Peer-to-Peer Conversations" here: https://www.bloomberg.com/peer-to-peer Learn more about David: http://www.davidrubenstein.com/ Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/