Schwab Says AI Is Past Experiments: Will It Echo the Dot-Com Boom?

Charles Schwab said AI adoption among the more than 16,000 advisory firms it serves is shifting from testing to daily work, with Jon Beatty, head of Schwab Advisor Services, expecting top speed by next year’s IMPACT conference. Beatty said AI will support advisors rather than replace them, but registered investment adviser firms bear adoption costs and Schwab is offsetting part. Schwab offers a $4,800 credit through Nov. 30 for Anthropic’s Claude assistant, covering a year of seats on a 20-seat enterprise plan; usage fees are separate. About 11,000 of nearly 17,000 RIAs holding client assets at Schwab manage under $100 million and typically have fewer than 20 advisors, below the plan minimum.