The Charles Schwab Corporation (NYSE:SCHW) 2023 Winter Business Update Call January 27, 2023 9:00 AM ET

Company Participants

Jeff Edwards - Managing Director, Head of Investor Relations

Richard Wurster - President

Walter Bettinger - Co-Chairman of the Board and Chief Executive Officer

Joseph Martinetto - Managing Director, Chief Operating Officer

Jonathan Craig - Managing Director, Head of Investor Services and Marketing

Stacy Hammond - Managing Director, Investor Acquisition and Marketing

Bernard Clark - Managing Director, Head of Advisor Services

Neesha Hathi - Managing Director, Head of Wealth and Advice Solutions

Peter Crawford - Managing Director, Chief Financial Officer

Conference Call Participants

Brennan Hawken - UBS

Michael Cyprys - Morgan Stanley

Richard Repetto - Piper Sandler

Benjamin Budish - Barclays

Christian Bolu - Autonomous Research

Steven Chubak - Wolfe Research

Craig Siegenthaler - BofA Securities

Kyle Voigt - Keefe, Bruyette, & Woods

Daniel Fannon - Jefferies

Unidentified Company Representative

We are all set and ready to go. Please welcome Jeff Edwards.

Jeff Edwards

All right. Good morning, everyone, and welcome to the 2023 Schwab Winter Business Update. I'm Jeff Edwards, Head of Investor Relations. For our long-time listeners that were expecting to see Mr. Fowler, I can confidently say that I did reach him on his bat phone this morning, somewhere in his bunker in Northern California. It is a top-down day now that we've finally gotten through that atmospheric river.

We have a very exciting day for you today to talk about the Schwab story. We have, hopefully, to many of you are very familiar have interacted with over time in person, but maybe over the last couple of years here, we've been a part maybe you've only seen virtually. So we're looking forward to it.

The agenda is very similar to years past. Walt will kick us off and as well followed by Mr. Rick Wurster, our President; Joe Martinetto, aka Professor Martinetto, will follow and talk a little bit about the Ameritrade conversion and some of the updates on technology. We'll then do a double-click into the business with Jonathan, Stacy and Bernie join us to talk a little bit about wealth and advice. And then finally, Mr. Peter Crawford, CFO, will finish the day and beyond.

Now that we're back in person, it's important to kind of revisit our Q&A etiquette. We will still be taking questions over the web console for those of you that are joining us virtually today. For those here in the room, we will be doing our mic runners. Grayson down here you see coming down the aisle, so please raise your hands, we'd ask that you wait for them to bring you a mic before asking your question. Similar to the recent updates, we'll be doing the one question, no follow-up. However, we will be coming back around so that there is ample opportunity for everybody to ask hopefully multiple questions to make sure you get all those questions answered. For everybody, virtually, please go to the web console. Ms. Lauren Gaspar will be helping me collect those. So let's be nice as we send those across. And if anything comes up, please hesitate to reach out to the IR team with any questions or concerns.