Schwab is opening up advisory offices in 30 upscale markets w/ 300 advisors by end of year after seeing wild success with a pilot program. This is big news given so many RIAs are clients of Schwab and now it will be competing w them (and Schwab charges relatively low fees, 30-80bps for full service). One guy calling it a "Wake up call" for advisors. Great story from @RIABiz ht @EconomPic(Eric Balchunas)