Mar 27, 2026
Schwab Advisor Services bravely offers its chin to SEC on behalf of small RIAs -- so counterintuitive on one level, Michael Kitces wonders if it's a relic of TD Ameritrade merger deal with DOJ
The $5-trillion RIA custodian doubles down by standing up for thousands of legacy TD Ameritrade clients – possibly as part of mandate but surely with risk – as rivals employ cream-skimming strategy to lure lucrative, giant RIAs.