to eliminate the cost of do-it-yourself trading so they could stay relevant and compete with the cult of Robinhood.
The approach should sound familiar. Firms across the industry are coming up with sleek, low-barrier-to-entry digital approaches to help people plan out their financial lives so they can draw in a new set of digitally savvy customers. Schwab worked with the Envestnet-owned wealth management software firm MoneyGuidePro to launch the new tool,The firm does not expect to generate revenue directly from the new tool, which comes at no cost to self-directed users. Schwab sees the platform as a way to level the playing field for users who want to start planning out their long-term financial goals, like saving for retirement, and can direct customers to its other products like the Intelligent Portfolios suite.by year-end, oversaw $4.
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