Financial advisors report client attrition and pushback following Charles Schwab's $10M minimum restriction on long/short accounts.

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    "name": "Charles Schwab",
    "domain": "schwab.com"
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    "summary": "Financial advisors report client attrition and pushback following Charles Schwab's $10M minimum restriction on long/short accounts.",
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1xb18l2/comment/phxn2ws/",
        "depth": 0,
        "score": 7,
        "author": "soulinsurance420",
        "excerpt": "Goldman has a $5mm minimum, but requires only x% of total assets to be L/S. I can’t remember the split off the top of my head.\n\n If you already have a preferred SMA manager, reach out to them for recommendations as well.",
        "posted_at": "2026-10-20T19:16:48.000Z",
        "author_url": "https://www.reddit.com/user/soulinsurance420/"
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        "url": "https://www.reddit.com/r/CFP/comments/1xb18l2/comment/phxo2fe/",
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        "author": "Diligent-Mix-3061",
        "excerpt": "We'd talked to AQR, e.g., and even if we did use Schwab, AQR wasn't taking on new RIA relationships at the moment with all the demand. They were trying to staff up.\n\n We went with a third party provider with an existing relationship with AQR - Symmetry. We worked with them to get on Interactive Brokers, who hasn't imposed minimums like Schwab. AQR has their own strategy minimums, but they're not $",
        "posted_at": "2026-10-20T19:24:35.000Z",
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        "depth": 0,
        "score": 3,
        "author": "CFPCPAMBA",
        "excerpt": "I wonder if the long/short tax strategy that uses leverage will get crushed when we have our next big correction. There is a tremendous amount of leverage in the system.",
        "posted_at": "2026-10-22T01:49:20.000Z",
        "author_url": "https://www.reddit.com/user/CFPCPAMBA/"
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        "url": "https://www.reddit.com/r/CFP/comments/1xb18l2/comment/phy13ve/",
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        "author": "rankdoby",
        "excerpt": "Schwab’s $10M minimum pushed a lot of RIAs toward Interactive Brokers, which hasn’t imposed one. Third-party providers like Symmetry and IAB can get you there without a big client commitment. Compare financing costs, strategy-level minimums, and whether the provider is actually taking on new RIAs.",
        "posted_at": "2026-10-20T21:05:22.000Z",
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        "author": "Responsible_Account6",
        "excerpt": "I am hearing Schwab may roll something out with much lower minimums by year end.",
        "posted_at": "2026-10-21T17:14:16.000Z",
        "author_url": "https://www.reddit.com/user/Responsible_Account6/"
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        "url": "https://www.reddit.com/r/CFP/comments/1xb18l2/comment/phxqr9f/",
        "depth": 0,
        "score": 3,
        "author": "topink123",
        "excerpt": "Alphathena offers DIY Long-Short DI with Interactive Brokers with pre-negotiated financing costs, and $1M minimums.\n\n Disclosure: I work at Alphathena",
        "posted_at": "2026-10-20T19:45:25.000Z",
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        "depth": 0,
        "score": 2,
        "author": "One_Swordfish6372",
        "excerpt": "Has anyone got rates from IBKR. They were talking like 2.5 % on a million $ account but dropped to under 1% at 3 million. We have a lot more clients where 1 million is perfect but not 3 million.",
        "posted_at": "2026-10-24T03:11:17.000Z",
        "author_url": "https://www.reddit.com/user/One_Swordfish6372/"
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        "url": "https://www.reddit.com/r/CFP/comments/1xb18l2/comment/phxsd38/",
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        "author": "Moneymma",
        "excerpt": "You can run series LLC from AQR at Schwab to get around the leverage/portfolio margin limitations. But it’s $15M minimum.",
        "posted_at": "2026-10-20T19:57:36.000Z",
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    "evidence": [
      "[post] They’re basically just removing the option for smaller and mid-sized clients who don’t want to commit that much.",
      "[comment u/TomatoOtherwise5372] $10M minimum is insane for something like that, most of my clients would laugh me out the room if I floated that number."
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    "post_date": "2026-10-20T19:12:24.000Z",
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    "post_text": "I was talking to a larger independent RIA PM and he was saying that they’re sticking with Schwab for long/short even though the minimum recently got lifted to $10M. They’re basically just removing the option for smaller and mid-sized clients who don’t want to commit that much.\n\nWe’re looking at different options since we don’t currently offer long/short but want to get in to it. What’s another provider that has lower minimums? Is there a better custodian that fits in well if we mainly custody with Schwab? I know third party providers can be pricey too, any advice on what to watch out for?\n\nFor reference: https://www.wealthmanagement.com/smas/schwab-imposes-stricter-limits-on-tax-aware-long-short-accounts",
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    "post_title": "Where to run long/short strategies after Schwab’s minimum increase?",
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