Schwab notches a $660 million deal agreement with private asset firm Forge Global Holdings

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to offer customers access to shares of privately held companies, and it's just the latest move in the building finance wave of getting private assets into everyday investor accounts.During Thursday morning trading, Schwab’s stock fell slightly while Forge’s stock rose 67%. Since the beginning of the year through Tuesday’s close, the stocks for both companies have rallied. Schwab’s stock was up 26% and Forge’s stock was up 87%.“Through Forge’s leading marketplace, we’re uniquely positioned to deepen liquidity, improve transparency, and further democratize access to this increasingly important source of wealth creation for investors,” Charles Schwab CEO Rick Wurster said in a statement.Forge sources shares of private companies from founders, employees, and venture capital backers seeking to sell their stakes.“This combination will transform how the private market works,” said Kelly Rodriques, CEO of Forge. “With Schwab’s reach and Forge’s solutions, private companies will gain access to liquidity and new growth options from an expanded market of qualified retail investors, while investors will gain new ways to invest in the innovation economy.”Yahoo Finance partnered with Forge in March to offer data on pre-IPO stocks like SpaceX (PAX.PVT) and Plaid (PLAI.PVT).Peddling private assets: A Charles Schwab office location in New York City. (REUTERS/Andrew Kelly/File Photo) · REUTERS / ReutersThe deal builds on Schwab’s recently launched alternatives platform, which is only eligible to clients who hold $5 million or more with Schwab.It also comes at a prescient time. Fewer companies are seeking to go public through traditional IPOs now compared to years past. Meanwhile, the stock market's value concentration into just a handful of major tech giants, along with its nearly three-year rise, has fueled no small amount of worry over investor exposure during a significant downturn."The S&P 500 is at an all-time high in terms of the concentration of the index; we see a record number of clients that have concentrated positions," Wurster told Yahoo Finance's Brian Sozzi in a Thursday interview.Read more: What is a bull market? Definition, examples, and investment strategies.The Trump administration is trying to change that.US Securities and Exchange Commission chairman Paul Atkins, who is a Trump appointee, has championed the effort for his agency to “Make IPOs Great Again” by finding ways to make it easier for private companies to go through the initial public offering process.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,728.80 +8.48 (+0.13%)Dow 3046,987.10 +74.80 (+0.16%)Nasdaq23,004.54 -49.46 (-0.21%)Russell 20002,432.82 +14.00 (+0.58%)VIX19.08 -0.42 (-2.15%)Gold4,007.80 +16.80 (+0.42%)PortfolioSign in to access your portfolioSign inTop gainersGMED Globus Medical, Inc. 83.89 +22.18 (+35.94%)FROG JFrog Ltd. 60.00 +12.74 (+26.96%)EOSE Eos Energy Enterprises, Inc. 18.26 +2.97 (+19.42%)OS OneStream, Inc. 22.74 +3.66 (+19.18%)EXPE Expedia Group, Inc. 258.25 +38.55 (+17.55%)Top losersUI Ubiquiti Inc. 612.19 -147.38 (-19.40%)PRMB Primo Brands Corporation 14.46 -3.24 (-18.31%)RUN Sunrun Inc. 17.13 -3.29 (-16.11%)DIOD Diodes Incorporated 44.28 -7.52 (-14.53%)DOCS Doximity, Inc. 54.29 -8.29 (-13.25%)Most activeNVDA NVIDIA Corporation 188.15 +0.07 (+0.04%)OPEN Opendoor Technologies Inc. 6.56 0.00 (0.00%)ACHR Archer Aviation Inc. 8.18 -0.70 (-7.88%)PLUG Plug Power Inc. 2.6500 +0.1400 (+5.58%)PFE Pfizer Inc. 24.43 +0.01 (+0.04%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 103,755.92 +2,542.00 (+2.51%)BYND Beyond Meat, Inc. 1.3900 +0.2000 (+16.81%)ETH-USD Ethereum USD 3,448.85 +136.51 (+4.12%)BKYI BIO-key International, Inc. 0.9620 +0.3273 (+51.57%)EOSE Eos Energy Enterprises, Inc. 18.26 +2.97 (+19.42%)Top economic events