Charles Schwab Corp, the brilliant online financial services firm, reported on Wednesday that its fourth quarter net income jumped 250% to $187 million from $53 million a year ago. Charles Schwab's revenue has more than tripled since it launched its unique service to provide clients with quality financial advice, without all the unnecessary fluff, at massively reduced costs. This growth has stunned analysts. Yet consumers are happy to have a no nonsense financial service offered to them. So many investors are tired of paying huge fees for bad advice, which is oftentimes only motivated by commission. There are plenty of retired people who have seen their savings dwindle because of such advice, and desperate investors just want someone to give them helpful, objective counseling that provides them with intelligent solutions to their financial issues. And that's where the success of Charles Schwab lies.
Schwab states: "From day one, I've made it our business to put the needs of the individual investor first. And for 30 years, we've kept our clients' interest as our main focus, creating a true Wall Street alternative for all investors. At Schwab, our goal is simple: We want to help you reach your personal goals. That means being a place where your money works hard. And where you can get the guidance and support you need-whatever type of investor you are." Schwab offers better, more personalized choices that ease the managing of investments, and provides a premium service at much lower cost. The basis of their website is a hassle free, easy to navigate architecture that provides a wealth of useful information. Visitors to their website can participate in video reports by Charles Schwab that offer important advice about their investments. In addition, Schwab provides free guides for retirement planning and investment decision making. Customers love the feeling that they can rely on Schwab, without having to worry about hidden snakes in the grass. They also love the choice. Charles Schwab is built around the needs of the investor, whether you trade once a year or ten times a day! Their profits are exploding as they look to provide for the needs of their customers. Charles Schwab exemplifies innovation and disruption in an age old market that's considered to be "set in its ways," and illustrates that generating customer trust is a great way to sustain business growth.