© 2020 Arizent. All rights reserved.

How to succeed in the low-margin custody business: Lightning Round with Schwab's Bernie Clark

Sponsored by
The custodial industry is in a state of flux — much of it spearheaded by Charles Schwab. In 2019, the company launched a subscription-fee pricing model for its hybrid robo advisor, ignited the race to zero after dropping commissions on ETF, stock and options trading and announced it plans to acquire one of its largest competitors, TD Ameritrade.

With the changes come new challenges, such as how custodians can navigate compressed margins. Bernie Clark, head of Schwab’s Advisor Services, talks with Financial Planning about an evolving landscape, Schwab’s focus for 2020 and whether the company competes with RIAs for clients. Plus, Clark’s favorite show. Hint: Everybody loves it.