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Schwab hopes to blend into the subscription world of Netflix, Amazon and Apple by dumping asset-based fees and wooing millennials with Intelligent Portfolios for $30 a month

Ex-Betterment exec Cynthia Loh wins 'love' by making digital advice a $30 monthly ding regardless of assets citing its 'approachability'

Author Brooke Southall March 29, 2019 at 1:02 AM
no description available
Cynthia Loh: 'Subscription-based pricing is second nature to many of us.'



Women of Wealth Management

Saverio Paglioni

Saverio Paglioni

March 29, 2019 — 3:01 AM
wasn’t selling at 28 bps so lower the price? Maybe it isn’t the dog but the dog food?
Laura C

Laura C

March 31, 2019 — 12:59 PM
Brooke - where is the answer to your emailed question referred to in your comment at the top of the article?
Brooke Southall

Brooke Southall

March 31, 2019 — 7:42 PM
Yep, we did add it. Spokesman Rob Farmer says Schwab is ready to eat the losses, but expects customers with larger accounts to want more services. "For a client who wants an automated portfolio combined with virtual planning and guidance, Schwab Intelligent Portfolios Premium might make sense for them," he says.
Brian Murphy

Brian Murphy

April 1, 2019 — 6:59 PM
Schwab is onto something with their new pricing model. Within 10 years this will be the norm. However, Schwab (like all custodians) remains hamstrung in that their main business is account servicing - which won't allow them to get to an optimal solution that involves advice on "held away" assets. Winning solution will combine independent service providers for advice, implementation and custody. My $0.02.

Related Moves

April 20, 2024 at 2:54 AM

A canary in the coal mine, Amy Richardson left Charles Schwab & Co. for an RIA -- before the 2,000 layoffs -- now a robust job market is saving the Schwab diaspora, she says

The former Schwab director wants former colleagues to know life exists after Schwab and good job opportunities are plentiful in the financial services sector.

December 20, 2023 at 1:52 AM

Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

Range Rovers screeched in and drivers joined a grim queue to get their cash, and cookie • The Schwab-TDA deal cull count now stands at roughly 3.5% of its staff • FMR's hockey star president has stepped down • SEC chief wants more enforcers • An Envestnet executive proves joining a rival is good business • LPL now has an in-house robot.

April 29, 2023 at 1:36 AM

Another RIA whisperer, Julian Lopez, has left Schwab Advisor Services after 24 years to join LPL, which he sees as more advisor-focused and 'entrepreneurial'

The Houston executive, like Kelly Smith in Chicago, was considered a key service talent for RIAs though Lopez says his circumstances differ.

February 23, 2023 at 8:14 AM

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