This week's Market Overtime is a special edition because it's not often you get to sit down with your Big Big boss – much less in front of the cameras and at your company's effective Super Bowl. That was the case for me last week at Schwab's RIA megaconference, Impact, in San Francisco, with incoming Charles Schwab Corp. CEO Rick Wurster.

You know it's serious when you spell out the entire name of your company. And we definitely did talk about some serious stuff, from Schwab's corporate financials in the most recent earnings report, to the impact of interest rates and potential new products like crypto on the balance sheet. Rick's been with the company for 8 years and working closely with outgoing CEO Walt Bettinger, and will be just the third CEO in the company's history.  

The timing of the leadership transition makes a lot of sense. Schwab finished the last segments of its integration of TD Ameritrade clients earlier this year, and the stock has been inflecting higher alongside other financials and regional banks as investors regain confidence in the sector amid cooling inflation, reduced bond volatility, and hopes for a pro-growth, reduced-regulatory agenda going forward.

I appreciated hearing Rick react to one of my favorite ways to describe Schwab's business model: The Walmart of finance. Just like Walmart (WMT) has everything you need – from the staples to the discretionary – Schwab's product offerings span the entirety of the financial spectrum from safety to risk. That was one key element that the market missed during the regional Bank scare that sent Schwab and shares of other financial institutions lower; clients indeed moved money out of higher yielding more profitable vehicles for Schwab, but into products also offered through Schwab that better suited their needs. 

There also may be new products on the way. Keep an ear tuned for Rick's comments on the crypto space and how Schwab might maneuver to bolster its offerings in that outside class. 

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