Schwab CEO: AI Will Serve Below $1M Clients - Wealth Management
Charles Schwab CEO Walt Bettinger has indicated that the firm plans to utilize AI to serve clients with less than $1 million in assets, signaling a shift toward automated service models for smaller accounts. This move highlights a broader industry trend where major custodians are leveraging AI to scale advisory services, potentially changing the competitive landscape for independent advisors targeting the mass-affluent market.
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