Schwab hopes to blend into the subscription world of Netflix, Amazon and Apple by dumping asset-based fees and wooing millennials with Intelligent Portfolios for $30 a month

Ex-Betterment exec Cynthia Loh wins 'love' by making digital advice a $30 monthly ding regardless of assets citing its 'approachability'

Author Brooke Southall March 29, 2019 at 1:02 AM

4 Comments

Cynthia Loh: 'Subscription-based pricing is second nature to many of us.'

Robo-Advisors

Women of Wealth Management

Charles Schwab & Co.

Saverio Paglioni

March 29, 2019 — 3:01 AM

wasn’t selling at 28 bps so lower the price? Maybe it isn’t the dog but the dog food?

Laura C

March 31, 2019 — 12:59 PM

Brooke - where is the answer to your emailed question referred to in your comment at the top of the article?

Brooke Southall

March 31, 2019 — 7:42 PM

Yep, we did add it. Spokesman Rob Farmer says Schwab is ready to eat the losses, but expects customers with larger accounts to want more services. "For a client who wants an automated portfolio combined with virtual planning and guidance, Schwab Intelligent Portfolios Premium might make sense for them," he says.

Brian Murphy

April 1, 2019 — 6:59 PM

Schwab is onto something with their new pricing model. Within 10 years this will be the norm. However, Schwab (like all custodians) remains hamstrung in that their main business is account servicing - which won't allow them to get to an optimal solution that involves advice on "held away" assets. Winning solution will combine independent service providers for advice, implementation and custody. My $0.02.

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