“more and more clients are keeping their lending business with us and we expect that as rates fall, we’ll see that accelerate.”

In context

“erhouse for us. It continues to drive really strong net new asset formation, both in terms of the RIAs coming onto our platform and the growth of the RIAs for whom we custody assets. As we look at monetizing the business, I think there’s lots of opportunity in the future. We have been trying to do more in wealth, asset management and lending to support our advisors. And you certainly see it, our growth in all three of those areas as evidenced by some of the numbers we shared earlier. RIAs have been asking us, almost begging for us to lend to them and their clients over time because they want to work directly with us and they don’t want to introduce another party into the relationship. And as we’ve upped our game with our pledged asset line capability and some of our mortgage capabilities, more and more clients are keeping their lending business with us and we expect that as rates fall, we’ll see that accelerate. We’re also seeing on the wealth and the asset management side where our RIAs rely upon us in a number of different ways, including our fixed income capabilities, our Schwab personalized indexing capabilities, and a number of other areas. I also think that there’s more we can do for RIAs over time. If you think about the value chain around the RIAs, there are a number of ways in which RIAs spend money in their business. And many of those ways are services that we could potentially provide and for which the RIA would prefer to work with us because it would make their life easier. Those are all areas that we are exploring. As it relates to custody fee, we have we believe our current model works and has served the test of time. We have asked RIAs if they would prefer a custody fee in lieu of”