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The Daily Read on Semi-Liquid Funds
Wednesday, October 7, 2026The Morning Brief →Sign in
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Tim Welsh

In network coverage since August 19, 2026 · 16+ stories
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practice

Fidelity ends custody for sub-$100 million RIAs, with June 2027 exit

Michael Kitces called the hard no bizarre, noting earlier minimum increases let small firms pay a fee to stay.
RIA · Oct 6Betterment, Axos and Schwab court Fidelity clients hit by $100 million minimum
move · Oct 5Schwab offers an informal welcome to Fidelity's sub-$100 million custody clients
RIA · Oct 5Schwab says it already serves 11,000 sub-$100 million RIAs as Fidelity sets a deadline
move · Oct 2Fidelity gives custody clients under $100 million until June 2027 to move
move · Oct 1Fidelity tells sub-$100 million RIAs to leave, with no fee option to stay
The Close · Oct 1Fidelity extends its $100 million minimum to existing RIA custody clients
move · Oct 1Fidelity gives sub-$100 million RIAs until June 2027 to grow or move custody
RIA · Oct 1Fidelity raises RIA custody minimum to $100 million, setting a mid-2027 deadline
book · Sep 4Schwab tests its pricing power on HNW clients
practice · Sep 1Don't Pull a Schwab: Vanguard's Altruist Trust Test
practice · Aug 21Schwab's branch push turns custodian into competitor
portfolio · Aug 21Schwab's crypto line forces advisors to pick a side
practice · Aug 20Schwab's $5 million referral floor reshapes RIA client growth
practice · Aug 19Schwab ends sub-$5-million RIA referrals starting in 2027
RIA · Aug 19Schwab ends sub-$5 million referrals to RIAs in 2027
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