April 3, 2019

Last week, Charles Schwab joined the subscription economy, offering investment advice digitally via subscription. The company previously offered this as a fee-based service called Schwab Intelligent Advisory, charging clients an advisory fee of 0.28 percent. The new subscription-based service is called Schwab Intelligent Portfolios Premium, and it builds on the company’s base 24/7 digital investment service called Schwab Intelligent Portfolios. Rather than paying an advisory fee, investment clients will pay a one-time initial fee of $300 for planning and a $30 monthly subscription fee, billed quarterly. Using Schwab Intelligent Portfolios Premium requires a minimum investment of $25,000.