Anyone clear through Schwab as an RIA? Is it true that they have no Custody Fees or Platform fees? That is what the recruiter told me. So, if you have a SMA using let’s say Thornburg I would only charge the advisor fee and the manager fee? Currently I need to build in custody, platform, manager (if used) and my fee. I clear through LPL at this time.

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I use Schwab abd am an RIA. But have been with them since 1995. I have never paid any fees. But cannot comment on their current policy. I don't see why the guy would lie about it. How much AUM?

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Used SCHWAB for several years, your principal must answer this question. So much depends on what the Registered Principal has negotiated and the AUM of the RIA. The pricing is held close to the vest. Schwab may provide certain advisors, at no fee or at a discounted fee, with research, software, technology, information and consulting services, and other products and services that benefit the advisor but that may not necessarily benefit client Account(s). Schwab's provision of these products and services to the advisor may be based upon a commitment that the advisor makes to Schwab regarding the amount and type of assets that the advisor's clients place in their brokerage accounts at Schwab (i.e., custodying assets at Schwab) within a certain period of time.

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