A CNBC analysis reveals that JPMorgan Chase, Charles Schwab, UBS and Stephens Inc. are linked to at least four of President Trump’s eight numbered investment accounts, holding at least $858 million in assets and executing more than 21,000 trades in 2025. Charles Schwab appears to have the most extensive involvement, with two accounts totaling approximately $465 million and accounting for nearly half of all disclosed transactions. The Trump Organization states that investment decisions are made by outside institutions in fully discretionary accounts using automated strategies. Financial experts consulted by CNBC, however, highlight significant compliance and reputational risks associated with managing funds for a sitting president who can influence banking policy and regulation.
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