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Best custodian? Starting RIA with minimal AUM

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Apr 20, 2020 11:12 pm

I’m in the planning stage of starting an RIA with a “go live” date in late summer. At the outset there will be minimal AUM…only a few million. Any ideas on the best custodians for my situation? I know a lot of the big guys wouldn’t be interested in a startup (even though I’ll still probably call them) but curious if you have any advice on this important decision. Thanks in advance!

May 26, 2021 3:04 am


I have a list. I know that Interactive Brokers does not charge custodian service fee.



Schwab(TD Ameritrade)

LPL Financial

RBC Correspondent Services


Alto, a self-directed IRA custodial platform, which specializes in alternative investments

Interactive Brokers

Bank of New York Mellon – $25.08 trillion in assets

State Street Corporation – $21.35 trillion in assets

J.P. Morgan – $20.5 trillion in assets

Citigroup – $13 trillion in assets

BNP Paribas Securities Services – $646 billion in assets

May 27, 2021 3:20 pm

hi, please tell me does Interactive Brokers really charge custodian fees? it really matters to me

Oct 8, 2021 1:30 pm

Schwab recently changed to no fees and no aum mins