Earlier this year, Schwab expanded OneSource to include nearly 200 ETFs. OneSource, the largest commission-free ETF platform on the market today, has been a significant driver of ETF asset growth for Schwab. Last year, ETF assets custodied at Schwab surged 18% to $231 billion, according to the firm’s fourth-quarter and 2014 snapshot. [Schwab ETF OneSource Lineup Grows Again]
Schwab Intelligent Portfolios feature the ease-of-use and intuitive technology some investors have come to crave from robo-advisors. For example, clients can fund accounts using mobile check deposit and go paperless. The platform is so robust that it is fully accessible from mobile devices.
However, the use of technology by Schwab Intelligent Portfolios does not imply the service is limited to a specific age demographic. While many robo-advisors and other financial services firms are heavily focused on millennials and opt to ignore Generations X and Y, Schwab notes a broad swath of investors, ranging in age from 20 to 70 years old, have expressed interest in the service . In addition, half of Schwab’s current clients who expressed interest in Schwab Intelligent Portfolios have at least $250,000 in assets.
Illustration Courtesy: Charles Schwab
ETF Trends editorial team contributed to this article.