RIAs Pay Customized Fees to Schwab as Custodian
The article discusses how registered investment advisory firms (RIAs) pay customized fees to Charles Schwab as a custodian, with costs varying based on negotiated formulas. Schwab serves over 16,000 RIAs managing $5.2 trillion in assets, and the fees depend on factors like asset size, portfolio mix, and product usage. The process is highly personalized and not standardized.
Topics: Charles Schwab custodial services financial advisors RIA fees