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Marty Bicknell and Peter Mallouk are among RIAs who think Schwab's entry into their local markets is unlikely to lay a glove on their own asset gathering.
The business model changes at the 10-year Baltimore startup are a shift toward 'survivability,' analysts say, but the 39 year-old founder ain't buying it after the Baltimore fixed-fee virtual RIA grew 56%, or $6 billion, in 2025.
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.
Schwab Advisor Services amply outgrew Charles Schwab & Co. in 2025, and Rick Wurster is vowing to help RIAs even more by hiring more in-house RIA wealth managers to avoid stretching existing managers thin.
The Schwab CEO, interviewed by Wall Street from IMPACT, made RIA needs and reach central to his Forge Global purchase value proposition
Kitces, the self-professed 'strongest advocate' for Schwab custody, now thinks Schwab is doubling down on a business model with 'striking parallels' to his own, heedless of his loyalty.
Advisor ProDirect was quiet out of the gate after experts raised concerns about sky-high price and conflicts, but those concerns still remain, they say.
Now 10 months-plus into the top job, Wurster proclaims regulatory all-clear on blockchain assets and talks RIAs in near proportion to their $5 trillion with the Texas brokerage
The Westlake, Texas brokerage and the St. Petersburg, Fla. RIA platform took the wirehouse's crown jewel with bold plan to compete nationally with Fidelity et al for Fortune 500-level 401(k), RSU, stock benefit, and other retirement and equity plans
Schwab seems to be adjusting to market forces in building up its platform fee revenue, analyst says
First seven CEOs were replaced, then myriad big HR dominoes fell as Vanguard, Schwab, Envestnet, InvestCloud, LPL, Cetera and Orion all switched out CEOs and presidents
Rick Wurster says Schwab is watching regulators but regulatory attorneys say financial chiefs ultimately must contend with risk of digital asset fraud and manipulation.
Bernie Clark's replacement as RIA custody chief made no promises in conference interviews but praised 'scale' and 'breadth,' which Schwab certainly has in spades.
RIAs have had a limited back-channel to the c-suite since Bernie Clark's departure, and Wurster remains an unknown to the industry.
Judge LaShonda Hunt keeps long-running, widely watched case against Creative Planning, Schwab, Fidelity and TD Ameritrade hanging by a thread.
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