Meta launched its Muse AI agent, which quickly gained nearly 1 million downloads and is seen as a potential disruptor to the financial advisory industry. Investors fear Muse's ability to handle tasks like managing personal finances and shopping for better rates could reduce demand for human advisors, leading to a sell-off in financial stocks including Charles Schwab, LPL Financial, and major banks like JPMorgan and Goldman Sachs. Despite some pushback, such as Amazon blocking Muse from purchases, the app's integration with fintech partners and Meta's vast user base intensify concerns. Experts note the financial sector could benefit if firms adapt quickly to AI, but the current market reaction reflects uncertainty about the technology's impact on traditional financial services.
Charles Schwab's market cap stands at $173.54 billion, with its stock down 5.89% as of Sep 24, 2026 03:23 WIB on Pluang, reflecting investor concerns about AI competition in financial advisory. JPMorgan, holding a $903.78 billion market cap, shows a milder decline of 0.72%, while Goldman Sachs, with a $276.46 billion market cap, is down 1.32%. Dividend yields range from 1.28% for Schwab to 2.28% for Bank of America, indicating steady income potential despite recent sell-offs.
