Charles Schwab Corp. is planning to roll out an alternative investments platform in phases for individual investors this year.
The platform will offer investors access to private equity, venture capital, private credit and long-short exchange funds to start, with one or two offerings in each of those categories, executives said at the Westlake, Texas-based firm’s institutional investor day.
The Wall Street Journal reported the announcement earlier.
The new platform would be available for qualified, self-directed investors with more than $5 million in assets, the executives said.
Just recently, the company completed the integration of former rival TD Ameritrade Holding Corp., with all traders now operating on Schwab’s platform as of this month. Shares of the firm are up 9.4% for the year at the close of trading in New York.
Schwab made public earlier this month that Chief Financial Officer Peter Crawford will be retiring, with former Citigroup Inc. treasurer Mike Verdeschi taking the role, among a number of other management shifts.
Salespeople at the firm often went beyond the matching algorithm to recommend network advisors on its Zoe Wealth platform, according to the regulator.
The Protect College Sports Act would cap school payments and codify NIL rights, with implications for advisors guiding young athletes.
"I know the number that I want to be able to retire on, and now I just want out," says Wilmington Trust's Marguerite Weese, describing a common refrain among business-owner clients.
Bessemer and Brown Brothers Harriman veteran Robert Ludricks III and private markets specialist Olof Akesson join the ultra-high-net-worth push on the East Coast.
765 investors were promised 260% annual returns on truck leases
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
