The brokerage will offer pre-IPO shares and add Anthropic's Claude AI for advisors.
Charles Schwab agreed to acquire private markets platform Forge Global to expand access to pre-IPO and private company shares. The brokerage plans to route Forge Global's private equity and venture-backed offerings into Schwab accounts for both retail and institutional clients.
The company is also rolling out Anthropic's Claude for Financial Advisors. With this launch, Schwab becomes the first registered investment advisor custodian to integrate the AI assistant into advisor workflows.
Schwab has a reported market value of about $171.3 billion. The firm is using the acquisition and the AI rollout to integrate private market exposure and digital tools across its banking, advisory, and custody operations, aiming to serve its nearly 50 million accounts.
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