Anyone else have this experience?

 

I just noticed my Charles Schwab accounts page says I have a "brokerage" account. 

 

I thought it was a "savings" account. 

 

I'm no financial whiz, but I think I would have noticed at some point over the years if my savings account said "brokerage."

 

So I suspect this "brokerage" thing is a new development. 

 

I didn't try to make any investments or anything. I don't understand why it would change suddenly. 

 

Does it matter?

Do you read all your terms of agreement amendments when sent out.  Top to bottom, completely, all those fine print notices you receive.

 

I never do.  Does make sense to have all accounts as brokerage accounts.  Use or don't, surely over the years, they've learned to conserve server & storage space.  Lower cost for them, low fees for you....win win.