Schwab takes its cut, Beacon Pointe powers up
Changes to custodian fee structures and the scale of Schwab's own wealth business bear directly on the platform economics advisors operate within. The Beacon Pointe figures offer a rare look at the margins, organic growth and leverage of a large RIA.
Summary
By the etfs deskThis Week in Wealth covers a busy week for Charles Schwab ahead of next week's Impact conference, including its move to start charging ETFs distribution fees and reported 55% growth in its own wealth management business, while remaining the largest RIA custodian. The episode also includes Ian's reporting on mega-RIA Beacon Pointe's finances, covering the $74bn firm's profit margin, organic growth rate and leverage level.
- Schwab has started charging ETFs distribution fees
- Schwab reported 55% growth in its own wealth management business
- Schwab remains the largest RIA custodian
- The episode details Beacon Pointe's profit margin, organic growth rate and leverage level
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