Charles Schwab has opened a branch inside Mercato Grove, adding more than 10 financial professionals to the Lake Oswego mixed-use complex at Kruse Way and Boones Ferry Road.

The new office is one of 22 branches the investment firm opened nationwide in 2025 and 2026, the Lake Oswego Review reported on Wednesday, Sept. 9. Schwab said in a press release that the branch expands its presence in the greater Portland area. Staff will offer services including investment products, banking, wealth management and retirement planning.

The branch is located at 4055 Mercantile Drive, inside the Mercato Grove development at the intersection of Kruse Way and Boones Ferry Road. Schwab now operates nearly 400 branches across the United States.

The Lake Oswego opening follows Schwab's departure from downtown Portland. In April, The Oregonian/OregonLive reported that Schwab had notified customers by email it would close its downtown Portland branch in June 2026. At the time, the company's nearest locations were described as being outside Portland.

Schwab has not publicly linked the downtown Portland closure to the Lake Oswego opening. The exact opening date of the Lake Oswego branch has not been disclosed.

Mercato Grove, developed by High Street Residential, includes 206 apartments and 49,000 square feet of retail space, according to the developer. Other tenants at the complex include Orangetheory Fitness, Grassa, The Whole Bowl and CVS Pharmacy.

The branch joins a retail mix that has steadily filled out since Mercato Grove's completion.