NYSE-listed global wealth manager and brokerage firm wants to empower investors who are underexposed to the US market through competitive offer and comprehensive support
SINGAPORE, Nov. 8, 2017 /PRNewswire/ -- Charles Schwab today announces the launch of its Singapore office to empower Singapore and the broader Asian investors whose investment portfolios are underexposed to the US market due to high transaction fees, by improving access through its proprietary tools and research, quality service and competitive pricing.
Charles Schwab Singapore Pte. Ltd., a subsidiary of NYSE-listed global wealth manager and brokerage firm Charles Schwab Corporation (NYSE: SCHW), marks the official launch of the office with a client event to be held on Thursday, 9 November. The launch follows a successful system integration and accounts migration in Singapore from optionsXpress, a derivatives trading platform Charles Schwab acquired in 2011.
Managing Director, Charles Schwab Singapore, Greg Baker said, "We are very excited to officially launch the Charles Schwab brand in one of the key financial hubs in Asia. Charles Schwab is a trusted and reliable financial organization with more than 40 years of experience in championing investors -- providing industry-leading service, proprietary tools for investment and investment education in one comprehensive platform."
Charles Schwab is a leading global wealth manager and brokerage firm with more than 10.6 million active brokerage accounts and US$3.18 trillion in client assets globally (as of 30 September 2017). The launch in Singapore aims to improve investor access to the US markets which have been hindered by high transaction fees as well as the perception of distance and unfamiliarity.
Baker said, "Singapore investors are sophisticated but are often underexposed to the US market due to high transaction fees. The US is the largest, most liquid market in the world, and it gives you access to the some of the largest global companies across every industry sector. But, too often we find that investors do not sufficiently diversify their investments and their exposure to international markets is predominantly through foreign exchange (forex), when there is an opportunity to maximize their investment return by exploring other vehicles such as options, stocks and ETFs."
"Also, what we mean by improving access is that one no longer needs to be a private banking client to access quality service and a comprehensive platform like this. We are also offering to investors in Singapore a simple fixed-fee structure with the most competitive pricing in the market. That is the core of our belief: there do not have to be trade-offs between quality research, price and customer experience, and that is why we are excited to bring this to the Singapore investors," concluded Baker.
About Charles Schwab Singapore
Charles Schwab Singapore Pte. Ltd. is a subsidiary of the Charles Schwab Corporation (NYSE: SCHW) and is a holder of a capital markets services license issued by the Monetary Authority of Singapore and an Exempt Financial Adviser as defined in the Financial Advisers Act. The company currently provides services via its Singapore office, its telephone system (+65 6692 7692) and website (www.schwab.com.sg)
About Charles Schwab Corporation
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 345 offices and 10.6 million active brokerage accounts, 1.6 million corporate retirement plan participants, 1.2 million banking accounts, and $3.18 trillion in client assets as of 30 September 2017. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, money management, custody, and financial advisory services to individual investors and independent investment advisors. More information is available at www.schwab.com and www.aboutschwab.com. (1117-7GUX)