Charles Schwab founded Charles Schwab & Co. in 1971 to make investing more accessible and affordable for average consumers. He reduced brokerage fees, allowing customers to choose their own investments. Schwab pioneered discount brokerages and online investing, creating e-commerce platforms in the 1990s. Through low-cost services, innovative technologies, and a focus on the individual investor, Schwab grew his firm into one of the largest brokerages in the U.S.