Victims Galore – CEO, Evan Rapoport, cites “Schwab basically just destroyed Robinhood’s entire business model”. Change comes as a result of consumer demand–likely to repeat…with direct indexing. Rapoport predicts that the first levee to break will be the launch of a retail-focused direct indexing product.

Charles Schwab & Co. brings ‘start-up’-style disruption to the $20 trillion mutual fund industry by zeroing out free fractional-share trade ticket charges ‘We are on the offense at Schwab,’ says San Francisco-based CEO Walt Bettinger, who...