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Schwab Expands No-Transaction-Fee Fund Offerings for RIAs

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Schwab Advisor Services has broadened its institutional no-transaction-fee (INTF) mutual fund offering for independent RIAs, adding more than 800 institutional funds from 15 leading third-party asset managers.

The funds come from BlackRock, Cohen & Steers, Columbia, Delaware + Waddell & Reed, Diamond Hill, Franklin Templeton, First Eagle, Guggenheim, Goldman Sachs, Invesco, Janus, Legg Mason, Lord Abbett, Nuveen and Principal.

“This offer increases independent advisors’ ability to personalize their clients’ investment portfolios and to put more of their clients’ initial investments to work,” said Jalina Kerr, managing director, client experience, Schwab Advisor Services, in a statement Monday.

“Our goal is to deliver a customized investment experience for the advisor and their end-client with a one-stop-selection of the institutional funds advisors choose most frequently for client portfolios,” she said.

Schwab added the funds to more than 130 no-transaction-fee, institutional share class funds from T. Rowe Price already available to the company’s independent advisor clients. The new offerings also will be available to advisors who keep client assets in custody with TD Ameritrade Institutional.

The offerings give advisors no-transaction-fee choices from a larger number of funds with lower net expense ratios, and to more funds with overall Morningstar ratings of 4 or 5, Schwab said.


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