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Charles Schwab sets mid-2027 target for advisor crypto services
Charles Schwab is preparing to extend direct cryptocurrency access beyond retail clients to financial advisors, targeting mid-2027 for a rollout that would include spot trading, asset transfers and custody via its advisor custody platform. The move signals a deeper push into digital assets within Schwab’s wealth-management ecosystem, where advisors already manage client portfolios and custody relationships.
Launch timeline and scope
At a virtual media roundtable, Jalina Kerr, managing director at Schwab Advisor Services, said the advisor-focused product is "on track" for around mid-2027 while noting the timetable is "subject to change." That caveat underscores that Schwab is still finalizing product design, cash-movement rules and custody controls before confirming a firm launch date.
Schwab currently oversees over $10 trillion in client assets. The advisor initiative follows Schwab Crypto, the firm’s retail spot trading product that began rolling out Bitcoin and Ethereum trading to select U.S. investors earlier in the year. For the retail product, Schwab partners with Paxos for trade execution and sub-custody, and clients can view crypto alongside stocks and ETFs on Schwab.com, Schwab Mobile and thinkorswim.
Why advisors are watching
Many financial advisors continue to give clients exposure to cryptocurrencies through exchange-traded products (ETPs) and funds, which allow investors to participate in crypto market movements inside familiar brokerage wrappers without the operational complexities of private key custody. However, Schwab has seen rising demand for direct spot exposure from advisors whose clients already hold digital assets outside Schwab’s platform.
The planned advisor service aims to address that demand by adding custody and transfer capabilities—not just trading—so advisors can consolidate client accounts, manage on-platform transfers, and apply Schwab’s custody controls to crypto holdings. That consolidation holds appeal for wealth managers seeking integrated reporting, compliance, and custody under one broker-dealer roof.
Competitive landscape and unanswered questions
Schwab’s advisor initiative arrives as other major firms add direct crypto products. For example, Morgan Stanley has piloted crypto trading via E*TRADE with Bitcoin, Ether and Solana on offer at a 0.5% fee—lower than Schwab’s retail crypto fee of 75 basis points. Competition from banks, brokerages, and custodians is intensifying as institutions seek to capture both retail and advisor-driven crypto flows.
Schwab has not disclosed advisor pricing, specific supported tokens, transfer limits, or the full custody model for the 2027 product. Its retail rollout began with Bitcoin and Ethereum, and Schwab has said it plans to add more cryptocurrencies and transfer features over time. Important operational elements—how cash movements between fiat and crypto will be handled, settlement mechanics, and custody controls for advisor-managed accounts—remain under development.
Implications for wealth management
If executed as planned, Schwab’s advisor crypto offering could shift more institutionalized crypto assets onto mainstream custody rails. Independent RIAs and wealth managers who already use Schwab for custody and brokerage services may find it simpler to onboard clients’ crypto holdings, consolidate reporting, and apply consistent risk and compliance frameworks.
Still, the project is tentative. Schwab’s mid-2027 target is a roadmap, not a guarantee, and the firm appears to be taking time to refine the platform’s technical, regulatory and operational safeguards. For advisors and clients watching the institutionalization of crypto, Schwab’s timeline and design choices will be an important signal of how quickly mainstream custody and trading will normalize across wealth-management channels.
What to watch next
Key developments to monitor include Schwab’s announcement of supported cryptocurrencies, advisor fee schedules, transfer and custody limits, Paxos’s evolving role (if any) in the advisor product, and how Schwab integrates crypto positions into advisor reporting and compliance tooling. As large custodians move closer to offering full crypto custody and trading, advisors will weigh the trade-offs between ETP exposure and direct spot custody when advising clients on crypto allocation strategies.
Source: crypto
Comments
Marius
If thats real then consolidating custody could be huge, but I worry about settlement ops and fiat flows. Feels half baked rn, show custody model first
blocktone
Schwab aiming mid-2027? lol thats ages away. Fine to be cautious but advisors need clarity now, fees, token list, transfer caps. hurry pls
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