Wealth management behemoth Charles Schwab, which oversees more than $10 trillion in client assets, is preparing to extend direct cryptocurrency access from retail investors to professional financial advisors. The multi-asset brokerage firm is targeting mid-2027 for a phased launch of spot trading, asset transfers, and institutional custody tools tailored for its independent advisor platform.
The strategy was disclosed by Jalina Kerr, Managing Director at Schwab Advisor Services, during a recent virtual media roundtable. While Kerr noted the mid-2027 target timeline remains flexible and subject to change based on design and operational milestones, the roadmap signals a major commitment to integrating digital assets deeply into conventional wealth management workflows.
The upcoming advisor expansion builds upon the infrastructure of Schwab Crypto, the firm’s spot Bitcoin and Ethereum trading platform for retail accounts that went live earlier this year via a partnership with Charles Schwab Premier Bank and Paxos.
Balancing Fund Convenience with Direct Ownership
While registered investment advisors (RIAs) have traditionally favored spot crypto exchange-traded products (ETPs) to capture market exposure within familiar brokerage accounts, client demand for direct asset ownership is shifting. Many wealth management clients already hold physical digital assets across external platforms, complicating holistic financial planning.
By providing native custody and inward/outward asset transfer tools, Schwab intends to let advisors pull those disparate assets into a singular, unified custody relationship. This allows for a more cohesive approach to estate planning, tax optimization, and overall portfolio rebalancing. However, building these capabilities requires navigating intricate cash movement rules and strict custody controls, as cryptographic assets are governed far differently than legacy equities or mutual funds.
Escalating Competition in Institutional Wealth Gates
Schwab’s shift into professional crypto custody arrives amid intensifying competition from legacy Wall Street brokerages attempting to corner the wealth management market. Competitors are rapidly iterating their own direct-access products, often competing on pricing models and asset variety.
Morgan Stanley recently launched a targeted E*Trade crypto pilot featuring direct Bitcoin, Ether, and Solana trading at a competitive 0.50% (50 basis points) transaction fee.
Charles Schwab currently charges retail users a 75-basis-point fee on its Paxos-backed platform. While advisor-specific pricing and asset support for the 2027 rollout have not been finalized, the platform is expected to initially debut with core assets Bitcoin and Ethereum before expanding downstream.
By establishing direct institutional infrastructure, Schwab aims to prevent capital flight to crypto-native platforms and cement its role as a primary gateway for independent advisors managing multi-generational wealth.
