How We Compensate Our Investment Professionals

ARCHIVED 2026-02-01, DATE APPROXIMATE · VERSION 20260201_rev01 · COMPARED WITH 20251001_rev01

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 In these pages, we identify the different categories of investment professionals who may serve you at Schwab and describe how they are compensated. This includes both Schwab employees and independent branch franchisees (and their employees) operating Schwab Independent Branches. Compensation for investment professionals who provide recommendations is designed to support the provision of advice in the client's best interest.
 Certain representatives that drive net new assets to the firm during the year may also be eligible to earn an annual trip through Schwab Chairman's Club.
 Please note that the information below describes how Schwab pays employee professionals and shares revenue with Independent Branch professionals, not how you pay Schwab for the services you receive. Information about what you pay Schwab for the services we provide can be found at [schwab.com/pricing](https://schwab.com/pricing).
+These pages summarize our compensation plans and incorporate all recent changes in effect as of October 1, 2025.
+These pages summarize our compensation plans and incorporate all recent changes in effect as of January 1, 2026.
 These pages are accurate as of the date indicated above. The most recent information is available at [schwab.com/compensationdisclosure](https://schwab.com/compensationdisclosure).
 We invite you to read this information carefully and to contact us at [800-435-4000](tel:+18004354000) if you have any questions. (For multilingual services, call [800-662-6068](tel:+18006626068). For services outside the U.S., call [+1-415-667-8400](tel:+14156678400).)
 ## Types of Investment Professionals
 ### 4\. Specialty Representatives
 - New Client Investment Consultant
 - Investor Development Consultants
 - Financial Consultants (Financial Solutions Branch)
 - Branch Managers (Financial Solutions Branch)
+- Senior Participant Consultants (Participant Investor Concierge)
+- Participant Investment Consultants
+- VP-Senior Wealth Consultants
+- VP-Senior Wealth Consultants/Director, Senior Wealth Consultants
 - Wealth Consultant Partners
 - Director-Schwab Private Wealth Services
+- VP-Corporate Financial Consultants
 - VP-Senior Client Consultants
+- Advice Consultants
+- VP-Workplace Financial Consultants/Workplace Advice Consultants
+- Branch Managers (Workplace Branch)
 - Trader Sales Representatives
 - Fixed Income Specialists
 - Regional Annuity Specialists (Annuity Specialists)
 - Regional Banking Managers
 - Portfolio Solutions Group Investment Consultants
 - Financial Planning Specialists
+- Tax, Trust & Estate Specialists
+- Equity Compensations Specialists
+- Portfolio Transition Specialists
 - Alternative Investment Consultants
 ### 5\. Schwab Independent Branch Services Representatives
 - Independent Branch Leaders
 - IB Representatives
 ### 6\. Schwab Wealth Advisory, Inc.
+- Director, Wealth & Asset Management Solutions
+- Tax, Trust & Estate Specialists
+- Equity Compensations Specialists
+- Portfolio Transition Specialists
 ## 1\. U.S. Branch Representatives
 ### VP-Financial Consultants
 #### What They Do
 #### What They Do
 VP-Branch Managers lead a local market team composed of Financial Consultants, Investment Consultants, Financial Consultant Partners, Client Relationship Staff, and various internal and external partners. They provide local strategic direction and execution support, and they recruit and manage the local team. They are responsible for the performance of their branch.
 #### Compensation
+In addition to a base salary, Branch Managers are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of branch growth and productivity, client satisfaction, and development of staff. A Branch Manager's bonus can be a significant amount, typically, but not limited to, approximately 45% of their total compensation.
+In addition to a base salary, Branch Managers are eligible to earn an annual bonus that is funded from a pool based on Schwab's performance and determined based on manager discretion, which may include consideration of branch growth and productivity, client satisfaction, risk management, and development of staff. They are also eligible to earn an annual bonus that is funded based on Schwab's performance and calculated based on their branch's net new assets and net new solutions performance relative to all other branches. A Branch Manager's bonus can be a significant amount, typically, but not limited to, approximately 45% of their total compensation.
 #### Branch Personnel
 US Branch Representatives, including VP-Branch Managers, are eligible for discretionary incentive compensation that is based on exceeding periodic Net Asset Flow goals for their assigned Branch or group of Branches. This compensation is in addition to the Solutions Pay for which Financial Consultants are eligible.
 ## 2\. International Branch Representatives
 Investor Development Consultants interact with prospects and clients via telephone, through inbound and outbound calls. They work to understand client needs, discuss solutions, and introduce clients to a fully integrated relationship with Schwab. They also make referrals to partners to help clients select products that meet their objectives.
 #### Compensation
 In addition to a base salary, these consultants are eligible to earn additional incentive compensation based on the following criteria:
+- Client Navigation-A measurement of Net Assets Flow and enrollments in Portfolio Management Services. The New Client Investment Consultant is paid the same for Portfolio Management Services, regardless of what solution the client elects.
+- Client Navigation-A measurement of Net Assets Flow and enrollments in Portfolio Management Services. The Investor Development Consultant is paid the same for Portfolio Management Services, regardless of what solution the client elects.
 - Manager Discretion-A quarterly discretionary incentive based on manager discretion, which may include consideration of service quality, client satisfaction, teamwork, and the provision of education and referrals to our clients.
 ### Financial Consultants (Financial Solutions Branch)
 #### What They Do
 Branch Managers lead centralized teams of Financial Consultants (Financial Solutions Branch) who work with clients in a phone-based and virtual meeting environment. They provide strategic direction and execution support, and they recruit and manage the centralized team. They are responsible for the performance of their branch.
 #### Compensation
 In addition to a base salary, Branch Managers are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of client retention, branch growth and productivity, client satisfaction, and development of staff.
+### Senior Participant Consultants (Participant Investor Concierges)
+### VP-Senior Wealth Consultants/Director, Senior Wealth Consultants
 #### What They Do
+Senior Participant Consultants (Participant Investor Concierges) provide help to participants of Schwab Corporate & Retirement Services (SCRS) including, but not limited to, Retirement Plan Services (RPS), Stock Plan Services (SPS), and Designated Brokerage (DB). For example, if a participant is eligible for a distribution or a rollover, the Senior Participant discusses the participant's options, which may include keeping the participant's assets in their retirement plan, or recommendations to roll over to a Schwab IRA. Based on the participant's needs and objectives, the Senior Participant Consultant may discuss and/or recommend additional products and solutions.
+VP-Senior Wealth Consultants/Director, Senior Wealth Consultants provide dedicated relationships to clients with at least $10M in investable assets at Schwab. They develop new and existing client relationships, taking a planning-based approach to understand a client's needs and objectives. They provide education and recommendations to help clients select the products that help meet their objectives and work with a team of experts in order to serve their complex and unique needs.
 #### Compensation
+In addition to a base salary, these Senior Participant Consultants have the potential to earn additional incentive compensation based on the following criteria:
+In addition to a base salary, VP-Senior Wealth Consultants/Director, Senior Wealth Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service quality, client retention, contribution to the team, and Net New Assets to Schwab.
+- Service Quality-A quarterly discretionary component that evaluates the Senior Participant Consultant's performance in educating participants about their options, which may include taking a distribution, leaving their money in their plan, rolling over to a current employer's retirement plan, or opening and rolling over to a Schwab IRA. This also includes all processing and follow-up work involved with servicing participants.
+- Client Navigation-A measurement of Net New Assets brought to Schwab.
+### Participant Investment Consultants
+#### What They Do
+Participant Investment Consultants assist and meet with clients who are not assigned to a Senior Participant Consultant as well as with potential new clients to identify and analyze their financial needs.
+#### Compensation
+In addition to a base salary, Participant Investment Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of service quality, client satisfaction, teamwork, and the provision of education and recommendations to our clients.
+### VP-Senior Wealth Consultants
+#### What They Do
+VP-Senior Wealth Consultants provide dedicated relationships to clients with at least $10M in investable assets at Schwab. They develop new and existing client relationships, taking a planning-based approach to understand a client's needs and objectives. They provide education and recommendations to help clients select the products that help meet their objectives and work with a team of experts in order to serve their complex and unique needs.
+#### Compensation
+In addition to a base salary, VP-Senior Wealth Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service quality, client retention, contribution to the team, and Net New Assets to Schwab.
 ### Wealth Consultant Partners
 #### What They Do
 Wealth Consultant Partners respond to the specific needs of clients and are assigned to specific Schwab representatives.
 Director-Schwab Private Wealth Services is a business development role. They are responsible for prospecting, qualifying, and closing new SPWS accounts to Schwab. They serve as a resource and subject matter expert on SPWS and the specific needs of UHNW clients.
 #### Compensation
 In addition to a base salary, Directors - Schwab Private Wealth Services have the potential to earn additional incentive compensation based on Net New Assets brought to Schwab.
+### VP-Corporate Financial Consultants
+### VP-Senior Client Consultants
 #### What They Do
+VP-Corporate Financial Consultants support employees of select corporate partners both in-person (through employer corporate campuses) and virtually. Taking a planning-based approach to understand a client's needs and objectives, they provide financial wellness education and may discuss and/or recommend additional products or services, outside of qualified plans, to help clients select the products that help meet their objectives. They provide holistic financial planning services to individuals that takes into consideration assets held in a qualified plan; they do not provide advice on such assets.
+VP-Senior Client Consultants work with clients both in person (through our U.S. branch office locations) and by phone. They develop new and existing client relationships, generally using a planning-based approach to understand a client's needs and objectives. They provide education and recommendations to help clients select the products that help meet their objectives and work with a team of experts in order to serve their complex and unique needs.
+Additionally, VP-Corporate Financial Consultants provide education and share recommendations made by a third-party advice vendor (e.g., Morningstar) to participants of retirement plans serviced by Schwab Retirement Plan Services, Inc. (SRPS). Services may include personalized one-on-one consultations, evaluation of investments and asset allocation, and discussion of financial goals (including retirement) to facilitate the third-party advice recommendations. The third-party advice provider takes into consideration both investments in employer-sponsored retirement plans and other assets held outside of those plans, in developing the plan investment advice.
 #### Compensation
+In addition to a base salary, Corporate Financial Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service, quality of financial plans delivered, feedback from the corporate client, and retention of plan assets.
+In addition to a base salary, VP-Senior Client Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service quality, client retention, contribution to the team, and Net New Assets to Schwab.
+### VP-Senior Client Consultants
+### VP-Workplace Financial Consultants/Workplace Advice Consultants
 #### What They Do
+VP-Senior Client Consultants work with clients both in person (through our U.S. branch office locations) and by phone. They develop new and existing client relationships, generally using a planning-based approach to understand a client's needs and objectives. They provide education and recommendations to help clients select the products that help meet their objectives and work with a team of experts in order to serve their complex and unique needs.
+VP-Workplace Financial Consultants/Workplace Advice Consultants provide help to participants of corporate partners both in person (through employer corporate campuses) and virtually. Taking a planning-based approach to understand a client's needs and objectives, they provide education and recommendations to help clients select products-including investments, banking, and insurance-that meet client objectives. They provide holistic financial planning services to individuals that takes into consideration assets held in a qualified plan; they do not provide advice on such assets.
+Additionally, VP-Workplace Financial Consultants/Workplace Advice Consultants provide education and share recommendations made by a third-party advice vendor (e.g., Morningstar) to participants of retirement plans serviced by Schwab Retirement Plan Services, Inc. (SRPS). Services may include personalized one-on-one consultations, evaluation of investments and asset allocation, and discussion of financial goals (including retirement) to facilitate the third-party advice recommendations. The third-party advice provider takes into consideration both investments in employer-sponsored retirement plans, and other assets held outside of those plans, in developing the plan investment advice. If a participant is eligible for a distribution or a rollover, the VP-Workplace Financial Consultant/Workplace Advice Consultant discusses the participant's options, which may include keeping the participant's assets in their retirement plan, or recommendations to roll over to a Schwab IRA.
 #### Compensation
+In addition to a base salary, VP-Senior Client Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service quality, client retention, contribution to the team, and Net New Assets to Schwab.
+In addition to a base salary, VP-Workplace Financial Consultants/Workplace Advice Consultants are eligible to earn an annual bonus that is funded based on Schwab's Retail Net New Assets performance and determined based on manager discretion, which may include consideration of client satisfaction, service, quality of financial plans delivered, feedback from the corporate client, and retention of plan assets.
+### Advice Consultants
+### Branch Managers (Workplace Branch)
 #### What They Do
+Advice Consultants support employees of select corporate partners through virtual channels. Taking a planning-based approach to understand a client's needs and objectives, they provide financial wellness education and may discuss and/or recommend additional products or services, outside of qualified plans, to help clients select the products that help meet their objectives. They provide holistic financial planning services to individuals that takes into consideration assets held in a qualified plan; they do not provide advice on such assets.
+Branch Managers lead centralized teams of Workplace Financial Consultants, Workplace Advice Consultants, and Workplace Investment Consultants who work with participants of corporate partners in person (through employer corporate campuses) and/or in a virtual meeting environment. They provide strategic direction and execution support, and they recruit and manage the centralized team. They are responsible for the performance of their branch.
+Additionally, Advice Consultants provide education and share recommendations made by a third-party advice vendor (e.g., Morningstar) to participants of retirement plans serviced by Schwab Retirement Plan Services, Inc. (SRPS). Services may include personalized one-on-one consultations, evaluation of investments and asset allocation, and discussion of financial goals (including retirement) to facilitate the third-party advice recommendations. The third-party advice provider takes into consideration both investments in employer-sponsored retirement plans and other assets held outside of those plans, in developing the plan investment advice.
 #### Compensation
+In addition to a base salary, Advice Consultants are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of metrics based on service quality and client satisfaction.
+In addition to a base salary, Branch Managers are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of client retention, branch growth and productivity, client satisfaction, and development of staff.
 ### Trader Sales Representatives
 Trader Sales Representatives identify trading clients who can benefit from Schwab's trading tools and education. They do not provide trading advice. The group consists of regionally based Regional Investment Strategists who work with local branches, as well as phone-based Trading Consultants and Education Specialists.
 - Regional Investment Strategists (RISs)
 #### What They Do
 As Charles Schwab Bank, SSB employees, Regional Banking Managers provide Financial Consultants and clients with information about bank lending products. They also provide existing clients with ongoing service.
 #### Compensation
+In addition to a base salary, Regional Banking Managers are eligible to earn quarterly bonuses that are determined based on the sales of bank lending products, including PAL, First Mortgage, and HELOC.
+In addition to a base salary, Regional Banking Managers are eligible to earn additional incentive compensation that is determined based on the following criteria:
+- Sales of bank lending products, including PAL and First Mortgage.
+- Manager Discretion-A quarterly discretionary incentive determined based on manager discretion, which may include consideration of service quality, teamwork, and the provision of education on bank offerings such as trust services and deposit solutions.
 ### Portfolio Solutions Consultants
 #### What They Do
 Portfolio Solutions Consultants are an ongoing resource for clients who are not currently assigned to a Financial Consultant and are invested in most Schwab managed solutions. The Portfolio Solutions Consultants are available to provide portfolio analysis, retirement planning, and advice regarding other wealth management topics. As part of any client conversation, the Portfolio Solutions Consultants ensure ongoing suitability of investments and make recommendations from a variety of investment products offered at Schwab.
 Financial Planning Specialists work with clients to create a financial plan and personalized wealth management strategy that addresses topics such as retirement planning, distribution and income strategies, education planning, risk management, and estate planning.
 #### Compensation
 In addition to a base salary, these specialists are eligible to earn an annual bonus based on factors such as corporate and individual performance.
+### Tax, Trust & Estate Specialists
+#### What They Do
+Tax, Trust & Estate Specialists work with clients to provide personalized tax, trust & estate educational information that complements the client's overall wealth management strategy.
+#### Compensation
+In addition to a base salary, Tax, Trust & Estate Specialists are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of client satisfaction, relationship management, quality assurance, teamwork, and partnership feedback.
+### Equity Compensation Specialists
+#### What They Do
+Equity Compensation Specialists assist clients and prospects with strategies to manage the value of their company stock and options more effectively. The consultation is highly customized and includes an action plan that considers general tax principles, risk management/diversification needs, target exercise prices, scenario management, and personal considerations.
+#### Compensation
+In addition to a base salary, these specialists are eligible to earn an annual bonus based on factors such as corporate and individual performance.
+### Portfolio Transition Specialists
+#### What They Do
+Portfolio Transition Specialists are trusted partners to Financial Consultants, Wealth Consultants & Wealth Advisors, and their clients or prospects seeking to transition their existing investment holdings into other products or service while considering estimated potential tax liabilities. These transition analyses deliver actionable and customized portfolio strategies to drive better client outcomes.
+#### Compensation
+In addition to a base salary, these specialists are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion.
 ### Alternative Investment Consultants
 #### What They Do
 The Alternative Investment Consultants (AICs) supported by Associate AICs assist clients seeking to invest in Alternative Investment Funds on Schwab's Alternative Investment Select platform, by educating/advising and recommending purchase of Alternative Investment Funds on Schwab's Alternative Investment Select platform.
 IB Representatives are employees of the IBL. They receive a salary paid by the IBL and, as determined by the IBL as their employer, may be eligible for a bonus.
 The criteria used to determine the amount of the bonus may include such factors as Net New Assets, Branch Assets, and Client Promoter Score. These criteria do not include recommendations of any specific product, offer, or service.
 ## 6\. Schwab Wealth Advisory, Inc.
+All personnel who provide planning, portfolio advice, and service within Schwab Wealth Advisory™ ("SWA"), including all Wealth Advisors, Associate Wealth Advisors, Specialists and the SWA service team are employed by Schwab Wealth Advisory, Inc., ("SWAI") a separate but affiliated Retail Investment Adviser.
+All personnel who provide planning, portfolio advice, or wealth management education, and service within Schwab Wealth Advisory™ ("SWA"), including all Wealth Advisors, Associate Wealth Advisors, Specialists and the SWA service team are employed by Schwab Wealth Advisory, Inc., ("SWAI") a separate but affiliated Retail Investment Adviser.
+Schwab Wealth Advisory, Inc. employees do not receive differential compensation based on what Schwab Wealth Advisory™ advice providers recommend to clients, nor is their compensation based on investment performance. In addition to a base salary, SWAI employees are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion.
+Schwab Wealth Advisory, Inc. advice providers, including Wealth Advisors, Associate Wealth Advisors, Fixed Income and Options Specialists, Financial Planners, and Alternative Investment Consultants, do not receive differential compensation based on what they recommend to clients, nor is their compensation based on investment performance. In addition to a base salary, they are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion.
+### Director, Wealth & Asset Management Solutions
+#### What They Do
+Director, Wealth & Asset Management Solutions interact with clients whose investment objectives may be met by Schwab Wealth Advisory, as initially determined by Schwab Financial Consultants. They provide additional education and advice about the features of Schwab Wealth Advisory and meet with clients both in person (through our U.S. branch office locations) and by phone.
+#### Compensation
+In addition to a base salary, Wealth & Asset Management Solutions Directors are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of service quality, client satisfaction, sales support, teamwork, and training.
+### Tax, Trust & Estate Specialists
+#### What They Do
+Tax, Trust & Estate Specialists work with clients to provide personalized tax, trust, and estate educational information that complements the client's overall wealth management strategy.
+#### Compensation
+In addition to a base salary, Tax, Trust & Estate Specialists are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion, which may include consideration of client satisfaction, relationship management, quality assurance, teamwork, and partnership feedback.
+### Equity Compensation Specialists
+#### What They Do
+Equity Compensation Specialists assist clients and prospects with strategies to manage the value of their company stock and options more effectively. The consultation is highly customized and includes an action plan that considers general tax principles, risk management/diversification needs, target exercise prices, scenario management, and personal considerations.
+#### Compensation
+In addition to a base salary, these specialists are eligible to earn an annual bonus based on factors such as corporate and individual performance.
+### Portfolio Transition Specialists
+#### What They Do
+Portfolio Transition Specialists are partners to Financial Consutants,Wealth Consultants & Wealth Advisors, and their clients or prospects seeking to transition their existing investment holdings into other products or service while considering estimated potential tax liabilities. These transition analyses deliver actionable and customized portfolio strategies to drive better client outcomes.
+#### Compensation
+In addition to a base salary, these specialists are eligible to earn an annual bonus that is funded based on Schwab's performance and determined based on manager discretion.
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+E-0925-01916 REG31752-55 (09/25)
+E-1225-02139 REG31752-56 (12/25)