Charles Schwab Managing Director of Mutual Fund & ETF Research Michael Iachini joined joined ETF Trends publisher Tom Lydon at the Morningstar Investment Conference in Chicago to discuss Schwab’s going footprint in the ETF business. Caifornia-based Schwab is the biggest custodian of ETF assets.
“It’s a little known fact. I think a lot of people don’t realize how much business Schwb does with investment advisors,” said Iachini. “Retailer investors are getting more and more up to date on what ETFs can do for them.”
Iachini also highlighted Schwab ETF OneSource, largest commission-free ETF trading platform with over 200 ETFs available to advisors and investors. As of May 31, 2015, Schwab ETF OneSource has $45 billion in assets under management and year-to-date flows into ETFs in the program are $5.8 billion, representing 37% percent of the total ETF flows at Schwab.
“The ETF OneSource platform has been out there for a couple of years now. Now we have over 200 ETFs that are available commission-free. We’re very proud of that and think it’s a real boon for investors to be able to save on those commissions,” added Iachini.
Watch the video below to see the full interview.
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