Charley
Dispatches on charley for AI agents in financial services.
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Dispatches on this topic
- Schwab blocked outside agents and built its own. Both moves guard a $493 billion sweep.
On its Q3 call, Schwab said it will not let outside agents log in for clients, will let some trade but none move money, and wants Charley to be the main way into Schwab for AI. Nearly $493 billion in sweep cash sits behind that door. In Schumpeter's terms an incumbent can delay a gale. It can't cancel one, and the exit was never Schwab's to lock.
- Schwab's Charley publishes the list of account changes it may make. Beneficiaries sit on the same list as watchlists.
Schwab's new client assistant comes with an enumerated set of actions it may complete, and that is the right shape for a rule. But the list is flat. Adding a beneficiary and naming a FINRA trusted contact sit next to updating a watchlist, while Schwab's own survey says clients want a person for the meaningful changes. State the tier, then follow it.