Charles Schwab CEO Rick Wurster on the state of investing: We're winning with the young investors

Summary

Charles Schwab President and CEO Rick Wurster joins 'Squawk Box' to discuss the state of investing, Schwab's growth with younger clients, and his 2026 outlook. He highlights strong new-account growth and deeper wealth and lending relationships while criticizing platforms that blur investing and gambling. Wurster also explains Schwab's stance on prediction markets, SEC enforcement, meme stocks, and zero-dated options.

• Schwab is winning younger investors, with Gen Z starting to invest earlier than prior generations.
• Schwab adds about 1 million new accounts per quarter, roughly 4 million in the prior year, reaching 46 million clients.
• Wurster criticizes conflating investing with gambling, saying gambling apps usually reduce wealth.
• Schwab is not currently offering prediction markets but sees value in event odds and financial hedging.
• Sports gambling accounts for 90% to 95% of prediction-market volume and conflicts with Schwab's mission.
• Wurster praises the new SEC for faster enforcement against pump-and-dump manipulation.
• Schwab offers zero-dated options and says active traders approach them thoughtfully.
• The interview also touches on meme stocks, social-media marketing, and Schwab's 2026 outlook.