AI fears are hammering shares of brokers like Charles Schwab and LPL — but the humans aren’t panicking

2026-02-20 12:54:34

Abstract generation in progress

Shares of brokerage firms like Charles Schwab and LPL Financial are declining due to fears that AI will replace stockbrokers. However, brokers themselves report that clients, especially high-net-worth individuals, are not leaving for AI-driven services and are instead engaging more with their human advisors. This situation echoes the internet boom of the 1990s when online portals were predicted to replace brokers but ultimately did not.

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