Schwab Launches Charley, an AI-Powered Client Assistant

4 hours ago

1 min read

Charles Schwab announced Charley, a generative AI-powered assistant that will roll out in phases beginning in October to eligible U.S. retail clients on Schwab.com and Schwab Mobile.
Through voice or text, clients can ask questions in their own words, receive information and suggested next steps, complete select tasks, and connect with a Schwab representative when additional support is needed.
At launch, clients can use Charley for everyday tasks, market information, account and service information, and select actions such as updating watchlists, enrolling eligible securities in dividend reinvestment, adding beneficiaries, and updating contact information.
Charley is powered by large language models, grounded in Schwab's data, expertise, security, and safeguards, and accessed through the existing chat entry point on Schwab.com and in the Schwab Mobile App.
In a Schwab survey of more than 500 clients and prospects, 65% said AI can either help execute routine tasks or play a meaningful role in investing when paired with human expertise.
Investors surveyed were most comfortable using AI to answer questions, find account information, and handle routine updates, while preferring a person for more meaningful account actions.
Schwab employees piloted Charley earlier this year, and the launch follows Schwab's May introduction of an AI-powered portfolio insights capability.