In September 2020, CEO Jack Cuniff announced that the company would be sold to a San Francisco investment fund. The sale, to Meritage Group LP, was finalized in November 2020.

Les Schwab, a native of Bend, Oregon, is best known for the tire company that bears his name. He entered the tire business in Prineville when he purchased a franchised store from the now-defunct O.K. Tire Company in 1952. A year later, he opened a second O.K. Tire store in Redmond.

When Schwab announced its sale plans last year, Bloomberg reported the owners hoped for $3 billion in the deal. Schwab and Meritage did not report terms of Tuesday's transaction but said the current management team will remain in place and Schwab will continue operating as it has.

Les Schwab Tire Centers is the second largest private company in Oregon and the third largest independent tire chain in the country. The success of Les Schwab Tire Centers is largely due to its namesake founder, Leslie Bishop Schwab.

Charles Michael Schwab (February 18, 1862 – September 18, 1939) was an American steel magnate. Under his leadership, Bethlehem Steel became the second-largest steel maker in the United States, and one of the most important heavy manufacturers in the world.

In a Sept. 29 statement, Les Schwab CEO Jack Cuniff said, “The decision to sell has always been about securing the long-term success of the company. Meritage Group has a history of preserving culture and values while growing its companies with investment over time.

Schwab took an early lead in the industry, offering a combination of low prices and fast, efficient order executions, and soon became the nation's largest discount broker. Today, the company is the nation's largest publicly traded investment services firm, with around $7.8 trillion in client assets.

SCHWAB Name Meaning German and Jewish (Ashkenazic): habitational name for someone from Swabia (German Schwaben), from Middle High German Swāp, German Schwabe 'Swabian'.

The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc.

Any man who goes into anything in life and does it better than the average will have a successful life. If he does it worse than the average, his life will not be successful.

As one of the first brokers to offer low-cost, no-frills trading services, Schwab pioneered the discount brokerage industry and transformed a struggling firm into one of the nation's largest traders.

Schwab's previous activity report showed that net new asset flows declined in July, a drop the company attributed to attrition of TD Ameritrade clients and advisors. The company reported that core net new assets totaled $13.7 billion for the month, down from $33.8 billion in June and $31.5 billion for July 2022.