Charles Schwab has officially launched its alternative investments platform for retail clients with household assets exceeding $5 million, marking a significant expansion in its offerings for high-net-worth (HNW) and ultra-high-net-worth (UHNW) investors.

According to ThinkAdvisor, this follows a six-month pilot program targeting a select group of affluent clients. Developed in partnership with iCapital, the platform offers access to third-party funds across private equity, hedge funds, private credit, and private real estate. Schwab plans to expand the platform by introducing additional asset classes, such as exchange funds, and increasing fund options within each category.

A recent survey conducted by Schwab revealed that more than half of its HNW clients anticipate allocating at least 5 percent of their portfolios to alternative investments within the next three years. ThinkAdvisor reports that Schwab currently serves over a million multimillionaire investors, with assets totaling over $3 trillion.

Separately, Schwab states that it has long supported independent investment advisers managing alternative investments and continues to invest in enhancing its platforms. The firm reports that 37 percent of advisers with custody with Schwab already use its alternative investment solutions, with $58 billion in client assets currently allocated to alternatives.

Retail clients on the new platform can access Schwab's alternative investment consultants alongside their financial consultants, wealth consultants, or wealth advisors. Clients with more than $1 million in Schwab accounts are automatically enrolled in Schwab Private Client Services, while those with over $10 million gain access to Schwab Private Wealth Services.

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