The Daniels Pioneer Network has done it once again, bringing Walt Bettinger, CEO of the brokerage firm Charles Schwab, to speak to a Newman Center audience filled at maximum capacity. The event was part of the ongoing speaker series, “Voices of Experience.” The event, which was held on Tuesday, April 2, featured Greg Moss of Channel 9 News as the interviewer for Bettinger.

Moss started the interview with questions regarding Bettinger’s background.

Originally from a small farm town in Ohio, Bettinger graduated summa cum laude from Ohio University with degrees in finance and investments. Starting the Hampton Company at age 22, he encountered failure for the first time in his life.

“After experiencing success in college academics and athletics, I faced my most important lesson of my career when I faced failure right in the eyes,” said Bettinger.

After one year with no clients and no revenue, he shut down the business and focused on passing his Actuarial exams, which are a series of professional level exams that are helpful in gaining respect and higher clientele in the insurance world.

Eventually the restored Hampton Company was bought out by Charles Schwab and Bettinger found himself as part of a larger company instead of running his own.

Bettinger moved his way up in the company, becoming Schwab’s most trusted partner and finally succeeding Schwab in 2008.

Other lessons Bettinger stressed to his audience were knowing all the people who work for you, doing the right thing by your clients, knowing who you are, knowing how to be a leader and knowing the importance of reputations.

Regarding the first lesson, Bettinger shared an anecdote of the first time he failed an exam in college.

It was the final quarter before he graduated and he was taking a business management class. The professor passed out the final, which was blank on both sides, and asked the class what the name of the woman who cleaned their building was. He promptly failed.

“Business is about people,” he said.

Ever since then, Bettinger has stressed knowing every person who has ever worked for him or above him.

“Being there is far more important than growing,” said Bettinger.
Bettinger stated he has never lied at work and described the financial crisis of 2008 as a “leadership crisis” rather than solely financial. He said he believes the cultural philosophies of a company have to match those of its leaders.

“Reputations are not for sale,” and “You’ve got to be believed to be heard,” Bettinger said.

He also said he believes that ethics should be the first thing a business student learns. Rather than taking business calculus freshman year, students should focus on the ethics and philosophy behind successful business management, he said.

As the Charles Schwab Corporation pours a quarter of a billion dollars into Colorado the next few years, job opportunities are expected to more than double. Bettinger stated this slyly, as prospective information for current undergraduates and perhaps future employees.

The hour-long interview ended with an opportunity for the audience to ask the CEO questions.