Charles Schwab's CEO Rick Wurster says that traders using AI are actually keeping more cash, not less.

Oct 16, 2026, 5:36 AM ETOpinionRead the original at Benzinga

Good for SCHW

Schwab says AI-using active traders hold more cash, easing concern that AI will drain customer balances. The report gives no cash totals, so the size of the benefit is unknown.

SCHW · Charles Schwab Corp.

AI read · Good for SCHW

The AI's read

That behavior could help Schwab keep more customer cash on its platform as AI trading grows. The report says this group doubled in about 6 months, but gives no cash totals. Schwab is also testing links to customer-chosen AI models and rolling out an assistant. It does not plan to build trading algorithms for clients, so the reported cash behavior is the clearest sign for Schwab.

Get alerts for SCHW

Follow Charles Schwab Corp. (SCHW) free. When we publish a story about it, you get the plain-English explanation as an alert.

Get alerts for SCHW

Free on the App Store and Google Play, or on the web.