The Forge deal is valued at roughly $660 million. Schwab will pay $45 in cash for each of Forge’s shares, a 72% premium over Forge’s closing price on Wednesday. It is the first acquisition under Schwab’s new Chief Executive Rick Wurster, who took the helm at the start of 2025.

ADP reported preliminary data last week indicating private sector employers added an average of 14,250 jobs per week over the previous four weeks, suggesting a monthly job growth of around 55,000 during the four-week period.