Clearinghouses/custodians

The firm’s new business highlights the beginnings of a shift in the custody marketplace due to a series of consolidations.

The deal underlines the bank’s focus on Folio's clearing and custody capabilities, as well as its 450 RIAs.

The custodian is upping the number of scholarships set aside for women and people of color.

More clients are also looking for financial advice within the custodian’s retail channel, which offers a robo advisor and full-service wealth management arm.

Advisors will face a drastically changed industry landscape and Schwab, already an industry leader, will play an even more outsized role in the marketplace.

As the Federal Reserve strives to help the economy, wealth managers’ revenue takes a hit.

“Platforms like this you would typically see at the larger broker-dealers and maybe the wirehouses,” says Gary Gallagher, the firm’s head of investment and managed solutions.

Executives provided advisors an update. The company has separately said it cut more than 200 retail branches at the end of last month.

From the fate of Veo One to account openings, here’s what Schwab’s leaders had to say.

Wealthy clients are the fastest growing segment of the company’s retail division.