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Schwab offers RIAs higher-yield option for client cash

Original: RIAs working with Schwab get higher-yielding option for clients' cash As # AI threatens to squeeze firms' profits on uni

Charles Schwab has introduced a higher-yielding option for registered investment advisers to hold clients' long-term cash, as artificial intelligence threatens to squeeze firms' profits on uninvested cash balances. The move, reported by Financial Planning, gives RIAs working with Schwab a way to improve returns on client cash holdings amid pressure on interest income.

Why now: Advisers are reacting to Schwab's new cash option as AI-driven pressure on firms' cash profits makes better yields a timely competitive issue.

Charles Schwabregistered investment advisersFinancial Planning

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• RIAs working with Schwab get higher-yielding option for clients' cash As # AI threatens to squeeze firms' profits on uninvested cash, RIAs are gaining a new option for clients' long-term cash holdings. https://www. financial-planning.com/news/ri… · AlexJimenez@mas.to · 1

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