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Schwab tells RIAs its wealth arm isn’t 'competing for new business'
At IMPACT, CEO Rick Wurster said Schwab Wealth Advisory serves only existing retail clients, and he pledged support for sub-$100M RIAs as Fidelity drops them.
Summary as published by InvestmentNews
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Rick Wurster chides Fidelity in wake of Fido's $100-million RIA purge, as Q3 net-new RIA assets -- both Schwab Advisor Services and Schwab Wealth Advisory -- soar 47% and 55%, respectively
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