SCHW · News · 20261102N

Competition and Market Share

SCHWAB CHARLES CORP · 2026-11-02 · Importance 20 · Surprise 24

Schwab remains the leading RIA custodian, with $5.8 trillion in assets and more than 16,000 RIAs. Fidelity and Pershing are maintaining their positions, while Vanguard and State Street are seeking to challenge Schwab. Vanguard’s acquisition of Altruist and State Street’s return to RIA custody through a partnership with Apex Fintech Solutions could alter competition, although analysts are divided on whether they can materially erode Schwab’s lead.

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