Largest asset holder

Schwab mostly have a competitive advantage from having a vast array of low cost brokerage services and pretty amazing customer service. They have about 350 office locations which adds a level of reliability if you nee help with your brokerage services. It also helps that Schwab offers banking, wealth management and advisory services on top of being a brokerage. Id say this makes them more akin to being a savings and loan company in general. They self report in their investor relations publication for 2025 that they are the #1 in retail trading, and #1 in total client assets for publicly reported peers. So I think its safe to say Schwab is highly regarded but I have yet to determine if Schwab has a moat yet.