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Charles Schwab & Co. took out full-page WSJ ad promising to 'hire thousands more financial consultants' last week; this week it said RIAs will no longer receive sub-$5-million referrals in 2027 -- an implied toll bridge collapses, says one analyst

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Charles Schwab & Co. took out full-page WSJ ad promising to ‘hire thousands more financial consultants’ last week; this week it said RIAs will no longer receive sub-$5-million referrals in 2027 — an implied toll bridge collapses, says one analyst

August 20, 2026

Charles Schwab & Co. is accelerating its move into wealth management, in part by steering its sub-$5-million investors…