Charles Schwab (SCHW) announced the launch of Schwab ETF OneSource. This is a new ETF platform that gives investors and advisors access to the most commission-free ETFs in the industry. As of February 7; Schwab clients can buy and sell 105 ETFs with $0 online trade commissions. Included in this group are funds from leading providers such as State Street SPDR ETFs, PowerShares, United States Commodity Funds, and many others.
Walt Bettinger, CEO of Charles Schwab, said that investors today are demanding more low-cost strategies, and ETFs are one of the fastest growing investment options in the industry. Bettinger said, “By working with these leading ETF managers to offer the largest selection, we’ve created a new home for clients to buy and sell ETFs that is an important complement to the tools and resources we offer to help them achieve their goals.”
Why did Schwab make the move to offer Schwab ETF OneSource? According to the 2012 ETF Investor Study by Charles Schwab, cost is the number one factor investors look at when selecting ETFs. Peter Crawford, senior vice President at Schwab, said, “Our goal is to make ETF investing accessible, affordable, and understandable.” He went on to say that Schwab ETF OneSource isn’t all about better pricing, it is also about helping investors and advisors select the right ETFs to meet their needs. The Schwab ETF Portfolio Builder is a brand new tool that helps investors match ETFs with their risk profile.
For a list of the ETFs available commission-free on Schwab ETF OneSource click here.