Charles Schwab announced that Schwab Alternative Investments Select, its new alternative investments platform, is now available to all eligible retail clients with more than $5 million in household assets at Schwab.
This new offer expands on Schwab’s comprehensive wealth management capabilities, which serve high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients who are looking to supplement their investments with non-traditional approaches and access to private markets to meet their portfolio goals.
This offer was initially rolled out to a smaller group of clients beginning in October 2024 and is now available to all eligible Schwab retail clients, including those enrolled in Schwab Wealth Advisory, Schwab’s premier wealth management offer.
The offer includes a curated shelf of third-party alternative investment funds across various asset classes, including private equity, hedge funds, private credit, and private real estate. And the funds undergo thorough ongoing due diligence reviews. The firm will continue adding asset classes, including exchange funds, and broaden the menu of funds in each category. And this offer is supported by iCapital’s industry-leading technology, which will digitize and streamline clients’ enrollment and investment experience.
Clients investing through Schwab Alternative Investments Select will also have access to a dedicated and experienced team of Schwab Alternative Investment Consultants, who will work with clients on alternative investment recommendations for their portfolios and provide education and specialized support. And clients will also continue to work with their Financial Consultant, Wealth Consultant or Wealth Advisor who provide guidance and support for their broader investment portfolio and wealth management goals.
Schwab Alternative Investments Select enhances the range of specialized services and solutions designed for meeting the needs of Schwab’s HNW and UHNW clients, who are among the fastest-growing client segments at Schwab, representing more than two-thirds of the firm’s total retail client assets today.
Schwab automatically enrolls retail HNW clients at Schwab in a branded client experience. And retail clients with over $1 million in assets at Schwab are automatically enrolled in Schwab Private Client Services, and clients with more than $10 million are enrolled in Schwab Private Wealth Services. These programs consist of a complimentary suite of benefits providing dedicated and experienced service, pricing advantages, and other rewards to meet the unique needs of these wealthy clients.
For affluent clients seeking advisory services, Schwab also provides a range of investment management solutions to help clients meet goals ranging from steady income or diversification to more customized investing, including Schwab Wealth Advisory, Schwab Personalized Indexing, and Schwab Advisor Network, which is the referral network serving investors throughout the nation with referrals to independent Registered Investment Advisors.
Along with the launch of Schwab Alternative Investments Select for eligible retail clients, Schwab provided services and support for alternative investment solutions for independent advisor clients for many years and continues to invest in enhancing its capabilities to support advisors’ use of alternative investments. And over 37% of advisors who custody at Schwab leverage one of the firm’s alternative investments platforms, including Schwab Alternative Investment OneSource, the fastest-growing platform among the firm’s RIA clients. Currently, a total of $58 billion in alternative assets are custodied at Schwab by advisors.
KEY QUOTES:
“As our large and growing HNW and UHNW client base continues to turn to Schwab to meet a broad array of wealth, advice and investing needs, we are committed to continuing to expand our capabilities to serve their evolving needs and preferences. With the launch of Schwab Alternative Investments Select, we’re excited to now offer eligible retail clients access to a growing alternative investments platform, along with the specialized expertise, service and support we know they deeply value.”
– Neesha Hathi, Head of Schwab Wealth & Advice Solutions at Charles Schwab
“Schwab serves more than a million multimillionaire investors, representing over $3 trillion in assets at Schwab, and we are proud that our breadth of products and services meet the specific needs of our wealthier clients, while we also continue to serve investors at all asset levels and at every stage of their investing journey. We remain committed to seeing through all our clients’ eyes, with a continued focus on delivering low costs and great value, products and experiences that make investing easy and accessible, and exceptional client service.”
– Jonathan Craig, Head of Investor Services at Charles Schwab
