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Rick Wurster's off-hand offer to trade sweep cash for RIA custody fee at IMPACT reveals dilemma over 'hidden costs' driving legacy custody model off the rails and into the lap of leaner, AI-driven competitors
Fidelity's answer was to dump sub-$100 million RIAs, with no fee option, but Schwab, for now, clings to its legion of small RIAs and 'broken' no-fee custody model, says Michael Kitces.
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