The Hidden Costs of Financial Advisor Custodians

Episode 15 of The Financial Advisor Podcast digs into a part of the advice business most clients never see: the custodian. Lucas and Luna explain why your advisor's choice between firms like Fidelity, Schwab, or Pershing matters for your costs, service, and even asset protection. They walk through a concrete example of how custody fees — typically 10 to 30 basis points — get baked into the client's bill through platform fees, trading costs, or cash sweep spreads. They also discuss recent moves by Schwab and Fidelity to change custody pricing and what that means for advisors who serve smaller accounts. By the end, you'll understand the question to ask your advisor: 'Who holds my securities, and how does that arrangement affect what I pay?' If you've ever wondered why two advisors charging the same fee can deliver very different net returns, this episode is for you. #FinancialAdvisor #Custodian #Fidelity #Schwab #Pershing #WealthManagement #AdvisorCosts #HiddenFees #PlatformFees #CashSweep #AdvisorFiduciary #RIA #BrokerDealer #FeeTransparency #Finance #FexingoBusiness #BusinessPodcast #Investing Keep every episode free: buymeacoffee.com/fexingo