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Schwab (SCHW) Focuses on Innovation with New Inheritance Center
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Charles Schwab (SCHW - Free Report) announced the introduction of a digital inheritance center, which is an online hub that simplifies the management of inheritance tasks like opening accounts, submitting forms and receiving status updates. The move comes as the brokerage firm focuses on making investing easier and more accessible for its clients.
By offering a seamless, instinctive and self-service experience, the center reduces time-consuming phone calls and in-person branch visits along with the need to fax or mail forms and documents.
Presently, the center is available to almost half of the total inheritor population, which includes individual inheritors who are opening retirement accounts and brokerage accounts to receive their assets.
Going forward, the hub will be available to clients who are new to Schwab and receive an inheritance.
Kathie Chao, managing director, retail digital experience, stated, “Adding a digital pathway to the inheritance process is our way of acknowledging that different people handle life events in different ways. We are offering inheritors a dedicated specialist, along with an online hub, to allow them to get through the process on their own time. Our goal is to let people work through the process in the way that is best for them, whether that’s mostly on their own or with more support.”
Chao added, “We hope that our Inheritance Center and the continued digital evolution of the estate process will help our clients get through difficult times in their lives a little bit more easily.”
Notably, the inheritance center includes features like a digital list that is tailored according to each inheritor’s specific situation. Thus, inheritors will have to complete all of the to-do items, including opening accounts or uploading documents, to receive their inheritance.
Also, the hub will provide real-time status updates through emails and online notifications.
In addition to the above-mentioned features, the center will provide contextual FAQs, financial inventory checklists and information about distribution options to help inheritors with common questions.
So far this year, shares of Schwab have lost 34.7% compared with the industry’s decline of 10.6%.
Over the past 60 days, the Zacks Consensus Estimate for IBKR’s current-year earnings has been revised marginally higher. Over the past year, the IBKR stock has gained 36.9%.
Earnings estimates for TW have been unchanged for the current year over the past 60 days. Over the past year, TW’s shares have rallied 38.7%.
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Schwab (SCHW) Focuses on Innovation with New Inheritance Center
Charles Schwab (SCHW - Free Report) announced the introduction of a digital inheritance center, which is an online hub that simplifies the management of inheritance tasks like opening accounts, submitting forms and receiving status updates. The move comes as the brokerage firm focuses on making investing easier and more accessible for its clients.
By offering a seamless, instinctive and self-service experience, the center reduces time-consuming phone calls and in-person branch visits along with the need to fax or mail forms and documents.
Presently, the center is available to almost half of the total inheritor population, which includes individual inheritors who are opening retirement accounts and brokerage accounts to receive their assets.
Going forward, the hub will be available to clients who are new to Schwab and receive an inheritance.
Kathie Chao, managing director, retail digital experience, stated, “Adding a digital pathway to the inheritance process is our way of acknowledging that different people handle life events in different ways. We are offering inheritors a dedicated specialist, along with an online hub, to allow them to get through the process on their own time. Our goal is to let people work through the process in the way that is best for them, whether that’s mostly on their own or with more support.”
Chao added, “We hope that our Inheritance Center and the continued digital evolution of the estate process will help our clients get through difficult times in their lives a little bit more easily.”
Notably, the inheritance center includes features like a digital list that is tailored according to each inheritor’s specific situation. Thus, inheritors will have to complete all of the to-do items, including opening accounts or uploading documents, to receive their inheritance.
Also, the hub will provide real-time status updates through emails and online notifications.
In addition to the above-mentioned features, the center will provide contextual FAQs, financial inventory checklists and information about distribution options to help inheritors with common questions.
So far this year, shares of Schwab have lost 34.7% compared with the industry’s decline of 10.6%.
Image Source: Zacks Investment Research
Currently, SCHW carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks from the same space are Interactive Brokers (IBKR - Free Report) and Tradeweb Markets (TW - Free Report) . IBKR and TW currently carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past 60 days, the Zacks Consensus Estimate for IBKR’s current-year earnings has been revised marginally higher. Over the past year, the IBKR stock has gained 36.9%.
Earnings estimates for TW have been unchanged for the current year over the past 60 days. Over the past year, TW’s shares have rallied 38.7%.