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Charles Schwab Building in NY

Portfolio > Alternative Investments

Schwab to Launch Alts Platform for HNW Retail Clients

By Dinah Wisenberg Brin

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Charles Schwab plans to launch an alternative investments platform this year for high-net-worth clients, a spokesperson confirmed Tuesday.

“We are continuously adding to our product and advice capabilities to meet the needs of our clients, including high net worth and ultra-high net worth investors,” the spokesperson told ThinkAdvisor by email.

“We’re seeing a growing interest in alternative investments, and we’re pleased to begin providing access in phases to an alternative investments platform for qualified retail clients with more than $5 million in household assets at Schwab later this year.”

The platform, using iCapital, will include “a curated shelf of high-quality, third-party alternative investment funds across select asset classes including private equity, venture capital, private real estate, private credit, and hedge funds,” with support and education from an alts specialist team, the representative added.

Schwab has been providing access to alternatives investments for its independent advisor clients for years.

Barron’s reported on the plans Monday in an article on J.P. Morgan research estimating Schwab could generate billions of dollars more in revenue a year by expanding alts uptake among individual investors.

Meanwhile, a new Morningstar report Tuesday on U.S. fund families notes that active managers are increasingly emphasizing private-market offerings and alternative investments like digital assets, although it says these products comprise a small percentage of assets for many firms that have traditionally focused on active open-end mutual funds.

Photo: Bloomberg

Dinah Wisenberg Brin

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