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AnalysisFeaturesthe-open

State Street and Apex launch custody unit for $1 billion RIAs

The new custody unit targets RIAs with at least $1 billion in assets while the $5.2 billion Connecticut RIA plans a first phase before the end of 2026.

At a glance

  1. State Street launched the service late last month, returning to a business it exited abruptly about five years ago.
  2. RIABiz reports divergent priorities between the partners.
  3. Connecticut Wealth Management, a $5.2 billion RIA, has hired Subatomic to build an AI operating system.

State Street and Apex Clearing have launched an RIA custody unit for RIAs with at least $1 billion in assets.

State Street launched the service late last month, returning to a business it exited abruptly about five years ago. RIABiz reports divergent priorities between the partners.

Connecticut Wealth Management, a $5.2 billion RIA, has hired Subatomic to build an AI operating system. The first phase is planned to go live before the end of 2026.

Reported by the Features desk from PWD data pack and RIABiz. Published . Updated Oct 28, 2026 · 2:57 p.m. ET. Corrections

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