Charles Schwab history and development hints at a bright future for iFAST, one of the larger positions in my portfolio.

Both companies sell funds and stocks at a low price and succeeded in gathering more assets and clients.

Take a look at how Charles Schwab has grown over the years.

Charles Schwab disrupted the industry by selling stocks at a low commission. Charles Schwab used technology to offer lower prices and increase profit margins. Scope and scale grew with the company selling more products such as unit trusts and a back-end platform for financial advisors. Network effects resulted in a deeper moat and a virtuous cycle as the company’s attractive prices attracted more clients which attracted more suppliers. More transactions with Charles Schwab resulted in clients leaving more cash in their account allowing Charles Schwab to earn net interest income. Net interest income currently makes up more than 50% of Charles...