Charles Schwab Brings in $1B in New Assets with Subscription Service
Company is attracting wealthier clients with its new pricing model.
In March, Charles Schwab launched a subscription service that is already making a big difference for the investment firm and its clients. The subscription service, called Schwab Intelligent Portfolios Premium, has already brought in $1 billion in new assets under management. Schwab has had a 25% increase in new accounts, and a 40% increase in average household assets, compared to the months prior to the subscription launch. Total client assets managed through Schwab’s digital advisory solutions now equal $41 billion, a 23% increase year-over-year.
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