Charles Schwab Corp.'s Omar Aguilar is eying a fresh spurt in asset growth — up to 20% a year — after its investment management arm surpassed a $1 trillion milestone on surging markets and voracious demand for cost-effective funds.
The chief investment officer of Schwab Asset Management credits the expansion to the parent company's massive investor reach.
Schwab is the largest custodian to registered investment advisers, while 25 million retail investors use its brokerage platform.
Aguilar currently oversees $1.2 trillion in a suite of ETFs, mutual funds and separately managed accounts, after assets cleared the 13-digit hurdle at the end of 2023 as markets shook off recession fears in an everything rally.
He expects that number to grow by 15% to 20% annually for the next seven years.
"We have the luxury to have amazing distribution capabilities within our main company," said Aguilar, who is based in San Francisco and has served as both the chief executive officer and CIO of Schwab Asset Management since 2022.
Distributing products to investors is often one of the most challenging parts of the ultra-competitive asset management world.
