If you build brokerage offices, will investors come? Charles Schwab is betting the answer is yes, as the firm launches its most ambitious branch expansion in years. For wealth advisors watching the evolution of client engagement models, Schwab’s move underscores an important trend: while digital-first solutions dominate the industry narrative, many investors continue to seek the reassurance and depth that comes with face-to-face financial guidance.
Schwab, which already operates nearly 400 branches across the U.S., announced plans to add 16 new locations and expand or relocate 25 existing offices. The firm is simultaneously hiring more financial consultants to meet rising demand. For RIAs and wealth managers, the implications are twofold: not only is Schwab reinforcing its hybrid strategy of digital and human engagement, but it is also signaling confidence that physical presence remains a growth driver in an industry defined by technology and scale.
The numbers highlight the magnitude of Schwab’s reach. As of August 31, the firm reported 37.8 million active brokerage accounts, 5.6 million workplace plan accounts, and more than $11 trillion in client assets. That asset base provides significant leverage for cross-selling and deepening relationships, especially as wealth transitions between generations.
At first glance, Schwab’s commitment to real estate may appear counterintuitive in an era dominated by apps, mobile-first platforms, and AI-driven advice. Yet, as Jeannie Bidner, head of branch network at Schwab, points out, client preferences are nuanced. “We know a lot of clients are digitally focused, and we have seen a huge uptick in mobile, but clients also want to be able to connect in person,” she explains.
This sentiment aligns with broader industry observations: digital access suffices for routine transactions and simple portfolio updates, but when clients face life events—inheritances, business sales, retirements, or sudden losses—they often crave in-person conversations. These interactions build trust in ways that no app notification can replicate. Advisors, particularly those operating independently, may find reinforcement here: technology and human touch are not substitutes, but complements.
Schwab is hardly alone in this strategy. JPMorgan Chase, in its push to expand wealth management, has been aggressively staffing advisors in newly built or redesigned bank branches. The goal mirrors Schwab’s—strengthening customer relationships through direct engagement. Advisors watching these moves can see a pattern forming: as wealth accumulates and investor needs grow more complex, the leading institutions are leaning back into personal touchpoints, albeit in carefully chosen geographies.
For Schwab, geography is critical. The new branches are strategically placed in regions where wealth is expanding or population inflows are significant. Five new Florida branches will open in Palm Beach Gardens, Aventura, Marco Island, and other affluent locales. California expansion includes Monarch Beach, Manhattan Beach, and San Francisco’s Mission Bay, with six additional branches being relocated or expanded across the state. Texas, home to Schwab’s headquarters in Westlake, will see two new offices in the Austin metro area, a region experiencing rapid population and business growth.
The firm is also targeting metropolitan areas like Boston, Seattle, Portland, and Atlanta’s Peachtree Corners. Additional locations remain under consideration, but the common denominator is clear: Schwab is planting branches in places where wealth is growing fastest.
These choices reflect demographic and economic shifts. California, Texas, and Florida are the three most populous states, but it is Texas and Florida that have captured outsized momentum in recent years. Favorable tax regimes, business relocations, and steady inflows of high-net-worth households have reshaped the wealth map. Schwab itself is emblematic of this migration, having moved its corporate headquarters from California to Texas.
The broader context is equally important. Schwab’s acquisition of TD Ameritrade in 2020 not only consolidated its position as one of the largest custodians serving independent RIAs, but also expanded its ability to reach self-directed investors. Coupled with the retail investing boom during the pandemic, which introduced millions of new households to the markets, Schwab’s growth trajectory has been formidable.
Yet, Bidner admits the physical expansion is overdue. “For the last five years, we were very focused on the integration efforts with TD Ameritrade,” she notes. With integration largely complete, Schwab is ready to rebalance its strategy. And the timing aligns with rising client expectations: in the first half of 2025 alone, Schwab added 2.3 million new brokerage accounts and $218 billion in net new assets. Scaling both digital infrastructure and human networks is necessary to keep pace.
For wealth advisors and RIAs, Schwab’s push raises several considerations. First, the hybrid model is no longer optional. Advisors who over-index to digital at the expense of human connection risk missing opportunities when clients want deeper conversations. Conversely, those who rely solely on in-person engagement may struggle to meet the immediacy and convenience that digital-native clients expect. Schwab’s dual strategy is a reminder that blending both channels is where sustainable growth lies.
Second, location strategy matters. Schwab is choosing markets with favorable demographics and high wealth concentration. Advisors in these same geographies should anticipate heightened competition for affluent households, but also greater awareness among clients about the value of advisory services. In some cases, Schwab’s presence may expand the overall pie by normalizing advice-seeking behavior.
Third, the data confirms the payoff. According to Bidner, clients who engage with Schwab’s financial consultants report higher satisfaction scores, and markets with branch offices experience faster growth. The lesson is straightforward: visibility builds trust, and trust deepens relationships. For independent RIAs, the principle translates into ensuring they remain visible and accessible within their communities—whether through local offices, networking, or strategic partnerships.
For advisors, the comparison to JPMorgan’s branch-based wealth expansion is instructive. Both firms are betting that the advisor-client relationship is strongest when supported by local presence. What differs is execution: Schwab is building standalone branches, while JPMorgan embeds advisors within multi-purpose bank branches. The common ground, however, is recognition that digital alone does not fulfill all client needs.
From a macro perspective, Schwab’s move speaks to the resilience of human advice. Robo platforms, automated trading, and AI-driven financial tools continue to evolve, but even the largest institutions acknowledge their limits. The demand for trusted human interpretation, especially around taxes, estate planning, and life transitions, remains robust. Advisors who can merge these skills with efficient digital tools will be best positioned in the years ahead.
Schwab’s branch expansion also highlights the importance of scalability in wealth management. With trillions in client assets, the firm can afford to invest heavily in real estate, staff, and technology simultaneously. Independent RIAs may not operate at the same scale, but they can adopt the philosophy: growth requires reinvestment. Whether that means enhancing digital client portals, adding support staff, or opening satellite offices, the principle is the same.
Another point worth noting is cultural. Schwab has long branded itself as “the investor’s champion,” positioning accessibility as part of its identity. Expanding branches reinforces that narrative, making wealth management feel less exclusive and more approachable. Advisors should consider their own positioning in light of this—how do clients perceive access and availability, and how does the advisor’s model reflect those expectations?
It is also worth considering succession planning and the generational shift in wealth. Younger investors may start digitally, but as they accumulate wealth and face complexity, they too may lean toward in-person conversations. Advisors who establish relationships early, perhaps through digital-first interactions, but evolve toward personal meetings as complexity rises, may mirror the same dynamic Schwab is betting on.
Ultimately, Schwab’s branch expansion is more than a real estate move. It is a statement about the future of advice delivery. Despite a decade of predictions that digital channels would render physical branches obsolete, the opposite appears true: the firms that thrive are those blending both worlds. For wealth advisors, this offers validation. Maintaining a local presence, even if modest, remains a powerful differentiator.
As Schwab builds out its new locations in Florida, California, Texas, and beyond, the wealth management industry will be watching closely. The experiment will test not just the scalability of Schwab’s model, but also investor demand for hybrid engagement in a time when convenience and connection both matter deeply. Advisors across the spectrum should take note: technology may accelerate growth, but the human element still anchors relationships.
For RIAs, the broader takeaway is strategic clarity. Growth in wealth management is not about choosing between digital and physical—it is about orchestrating both in ways that align with client needs, life stages, and trust-building moments. Schwab’s bet is that when the stakes are highest, clients want a seat at the table with someone who understands them. Advisors who can deliver that balance—whether through a national network or a single office—will remain indispensable in the evolving marketplace.
