Long Short SMAs

Fidelity and Schwab embraced long-short SMAs, until surging RIA demand proved too much of a good thing, now they're trying to curb a 'sugar high' among advisors with fee hikes and restrictions that could backfire

Fidelity and Schwab are working to suppress demand for long-short SMAs, but employing different tactics; analysts say they are right to do so, but one custodian isn't playing the game.

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