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Private Wealth Daily
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Alex Chalekian

Lake Ave. Financial · Reported Oct 6
In network coverage since October 1, 2026 · 7 stories
Network coverage
Practice management

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 6Fidelity sets $100 million custody minimum; Betterment waives fees through 2028
Features · Oct 3Fidelity tells sub-$100 million RIA clients to reach $100 million or leave by mid-2027
Recruiting & transitions · 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
RIA · Oct 1Fidelity gives custody clients below $100 million until June 2027 to grow
Recruiting & transitions · Oct 1Fidelity gives sub-$100M RIAs until June 2027 to find a custodian
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