Charles Schwab & Co. has lowered minimum required asset balances that investors must maintain in certain accounts to avoid fees, the company announced Thursday.

For investors with a household minimum of $25,000 in a Schwab brokerage, education savings, college or custodial account, Schwab is waiving the quarterly $30 service fee. Schwab also wiped out fees previously charged to clients with at least $10,000 in individual retirement accounts. The new changes are likely to benefit 250,000 clients already on Schwab's books.

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