Schwab creates organization for Neesha Hathi to head up at intersection of wealth and banking after Rick Wurster identifies it as the 'No. 1 thing' from RIAs; analysts say, not so much

Kelly, B. (2026, January 30). Schwab creates organization for Neesha Hathi to head up at intersection of wealth and banking after Rick Wurster identifies it as the 'No. 1 thing' from RIAs; analysts say, not so much. RIABiz. https://riabiz.com/a/2026/1/30/schwab-creates-organization-for-neesha-hathi-to-head-up-at-intersection-of-wealth-and-banking-after-rick-wurster-identifies-it-as-the-no-1-thing-from-rias-analysts-say-not-so-much

• Charles Schwab Corp. has launched a new integrated unit led by Neesha Hathi to merge wealth management services with banking products.

• CEO Rick Wurster identified the convergence of banking and wealth as the primary demand from RIAs seeking more streamlined financial solutions.

• The initiative aims to simplify the client experience by providing a unified platform for lending, deposits, and investment management.

• Industry analysts express skepticism regarding whether this organizational shift addresses the core technological and service needs of independent advisors.

• Neesha Hathi, formerly the Chief Digital Officer, will oversee the strategic alignment of these two previously distinct divisions.

• The move follows a broader corporate effort to maximize wallet share by capturing more of the cash and lending business from existing RIA clients.

• Critics suggest that while the integration benefits Schwab’s internal efficiencies, it may not significantly alter the competitive landscape for RIA custody.

Knote: I am a big believer in the necessity of RIAs to provide the same sort of banking resources to their clients that can be had at Chase or BoA. With most clients being within 20 nautical miles of a Chase, Wells Fargo, or Bank of America branch, we believe this to be a critical defensive maneuver. And, advisors simply cannot be at the center of their clients' lives without it.