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Thank you. From Wondery, I'm David Brown, and this is Business Wars Daily on this Wednesday, May 13th.

Great to have you with us.

The financial services industry has

been in a war with each player doing everything it can to attract new young investors. Charles Schwab

is aggressively moving into a more modern era. The 50-year-old company announced it will now

offer the opportunity to purchase fractional shares of stock. Like its rivals, Schwab is making a bid to attract new

investors to the stock market, mainly millennials, but even kids. You're likely familiar with the

concept of fractional shares, but just in case you need a refresher. It goes something like this.

With popular stocks like Amazon and Alphabet trading it well over $1,000 a share, the average person is locked out of the stock market.

Not so with fractional investing, which allows anyone to purchase slices or fractions of a share for as little as a few dollars.

Back in October, Charles Schwab's 82-year-old founder, that is, Charles Schwab himself, promised to

...