Schwab today launched the Schwab Starter Kit™, a new experience that will provide beginner investors with $50 to split across the top five stocks in the S&P 500, access to tailored educational content designed to be easily digestible for someone getting started, and curated easy-to-use investing tools and resources.
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 Starter Kit is specifically aimed at helping first-time investors, and each component addresses this group’s unique needs.
- Ownership in widely recognized stocks: By opening an account and depositing as little as $50, new investors get a jump start with an additional $50 from Schwab to invest in fractional shares ($10 in each of the top five S&P 500 companies by market cap) through Schwab Stock Slices™, giving them ownership of some of the most widely held and recognized stocks available.
- Tailored education: Schwab Starter Kit’s education hub features essential step-by-step guides, short how-to videos and other bite-size content to help investors build their investing knowledge and confidence. All the content is curated from Schwab’s wide-ranging library with a focus on the most essential fundamentals for new investors, including understanding how to evaluate, buy and sell securities.
- Valuable tools and resources: As investors begin their journey, Schwab Starter Kit will support them with access to select resources like an easy-to-use retirement calculator, worksheets to help budget and meeting savings goals, and trading tools to help them make more knowledgeable decisions.
Schwab has been committed to democratizing investing since its founding, and while Schwab and the industry have made considerable strides in breaking down barriers to investing with innovations like $0 commissions, no account minimums, and robo advice, increased access and democratization need to be supplemented with the right set of products, resources, tools and live support.