For a long time, Schwab and Fidelity have dominated the RIA custody business.
Last month, Vanguard announced its return to the space through the acquisition of Altruist.
Now State Street is getting back in as well.
More custodians means more options for advisors.
And more competition usually means better technology, better service and better economics.
The custody wars may be just getting started.
wealthmanagement.com/ria-new…
Schwab is putting Claude directly in front of 16,000+ RIAs and covering the cost.
State Street is getting back into RIA custody.
And Ameriprise lost another $1B+ team.
More on these stories in tomorrow's Advisor Market Report newsletter
advisormarketreport.beehiiv.…
Sep 21, 2026 · 12:36 PM UTC
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