NEW YORK, Feb 12, 2026, 13:28 EST — Regular session
- Charles Schwab shares dip in midday trade after an AI-driven selloff hit brokers earlier this week
- CEO Rick Wurster says the market is “missing” Schwab’s advantages in AI
- Next catalyst: Schwab’s January monthly activity report is anticipated on Feb. 13, premarket
The Charles Schwab Corporation’s shares were down about 0.7% at $94.81 on Thursday, giving back early gains as investors stayed skittish after a sharp, AI-linked selloff earlier in the week.
The stock has swung between roughly $92.84 and $96.27 so far in the session, a sign the trade is still jumpy even as broader markets steadied.
Why it matters now: Schwab and other wealth managers were hit after a smaller rival rolled out new artificial intelligence tools aimed at automating tax planning — a high-touch service that helps firms charge fees and retain clients.
Schwab closed at $95.45 on Wednesday, down 3.83% on the day and a second straight loss, MarketWatch data showed. The stock was about 11% below its 52-week high of $107.50 set a day earlier, and volume was well above its 50-day average. Marketwatch
The slide started on Tuesday after wealth management startup Altruist introduced AI-enabled tax planning features, raising fresh questions about pricing and competition across brokers and advisors. “Traders sell first and ask questions later,” Stock Trader Network strategist Dennis Dick said, while Citizens analysts argued the adviser “earns the fee” through judgment and coaching, and Morningstar’s Sean Dunlop said parts of the selloff looked “overdone.” Reuters
Schwab CEO Rick Wurster took aim at the AI-worries trade on Wednesday, saying he was “disappointed and surprised” by the drop and calling Schwab a “natural winner in the AI space” because of its “size, scale” and data. He also compared the current anxiety to past fears that “robo-advice” would crush advisers. Advisorhub
Investors have also been digesting insider activity. Schwab co-chairman Walter W. Bettinger exercised options and sold 67,514 shares on Feb. 6 at a weighted average price of $104.2521, a filing showed. Sec
For Schwab, the bigger debate is whether AI tools become a new distribution channel for advice — or just another layer of software that boosts productivity and keeps clients from drifting. That question matters for the firm’s advisor-facing business and its retail clients, where service and retention drive account growth and asset gathering.
But the downside case is easy to sketch. If AI-driven tax and planning tools spread fast and start to commoditize parts of advice, it could intensify fee pressure, make it easier for clients to switch firms, and push spending higher as incumbents race to match features.
What’s next: traders are looking to Schwab’s January monthly activity report, which the company lists as normally reported on or around the 10th business day and anticipates for Feb. 13, premarket. Net new assets, client cash trends and trading activity will be key read-throughs after this week’s AI shock. Aboutschwab
