The Charles Schwab Corp. (SCHW, Financial), an online brokerage firm, contributed in thequarter. With mid-single-digit organic growth and over $7.5 trillion in assets, Schwab has continued to attract new customers to its platform and offer them a wider array of services. Given more than $500 billion of interest-earning assets, an increase in interest rates should lead to improved earnings in the coming years. Finally, Schwab continues to integrate its acquisition of TD Ameritrade, which should yield industry-leading economies of scale.
From Ron Baron (Trades, Portfolio)'s Baron Partners Fund fourth-quarter 2021 letter.
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