InvestmentNews reports that Charles Schwab Corp. is refining its approach to alternative investment products for financial advisors, reflecting the industry's growing emphasis on these offerings.

Schwab, a prominent custodian for registered investment advisors (RIAs), is enhancing its alternatives platform through Schwab Advisor Services. Schwab CEO Rick Wurster recently shared with InvestmentNews that the firm is developing a more curated selection of alternative investments for advisors and their clients.

Currently, more than 37 percent of financial advisors who custody assets with Schwab include alternatives in their portfolios, amounting to $58 billion in assets. However, advisors have reported limited communication from Schwab about its plans for alternative investments, according to InvestmentNews.

Schwab's strategy aligns with broader industry trends, as competitors like LPL Financial Holdings Inc. also work to strengthen their alternative investment offerings.

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