Rick Wurster discloses sweeping Schwab plan to flip up to 31% of its self-directed book of business into its RIA, Schwab Wealth Advisory, calling house retail clients 'unmatched conversion funnel'
- Jul 22
- 1 min read
Rick Wurster discloses sweeping Schwab plan to flip up to 31% of its self-directed book of business into its RIA, Schwab Wealth Advisory, calling house retail clients 'unmatched conversion funnel'. (2026, July 22). RIABiz. https://riabiz.com/a/2026/7/22/rick-wurster-discloses-sweeping-schwab-plan-to-flip-up-to-31-of-its-self-directed-book-of-business-into-its-ria-schwab-wealth-advisory-calling-house-retail-clients-unmatched-conversion-funnel
Charles Schwab is targeting up to 31% of its self-directed client base for conversion into its in-house RIA, Schwab Wealth Advisory.
The initiative targets eight million or more self-directed clients holding more than $1 trillion in assets.
CEO Rick Wurster described the firm's self-directed investor base as an unmatched conversion funnel into advice.
Schwab anticipates approximately three times higher returns from clients converted into the RIA.
The updated SEC ADV Part 2, filed June 30 and reviewed by RIABiz, reported $218 billion in assets under management as of December without providing revised figures.
Wurster stated that the broader advised market, including users of Fidelity, Robinhood, Vanguard, the wirehouses, IBD reps, and bank brokers, remains 98% untapped by Schwab.