Charles Schwab & Co. is the second-largest asset manager in the world. Its call center gets more than a quarter million calls a day.
Merrill Lynch & Co. is its top competitor, at least by traditional brokerage industry measures, as opposed to stock market valuation. Merrill is aiming at $2 trillion under management next year. Its number of millionaire clients has risen to six million, from one million, in six years. The average age of its clients is 71.