Charles Schwab announced today that exchange-traded fund (ETF) assets held by its individual investor and independent advisor clients have exceeded $100 billion.
About 25% of all ETFs held by retail investors are custodied at Schwab, and the brokerage also has a large number of fee-only advisors who are very loyal.
The mark was achieved in part because of the early success of Charles Schwab’s own ETF products, the provider and brokerage said. Schwab’s ETF line just crossed the $2 billion mark just a little more than a year after their debut.
Murray Coleman for Barrons reports that the milestones underscore the growing weight that retail investors have in the industry. The trend could further grease the wheels for the industry’s growth. [Chuck Schwab Uses ETFs, Too.]