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brock_h t1_jd0in32 wrote

Schwab has 7T+ AUM. What am I missing?

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rajhm t1_jd2da0g wrote

I am guessing for that number, Schwab is the brokerage, not the asset manager. At Schwab's brokerage people have money in stocks, ETFs, mutual funds, bonds, etc. Some of the funds and ETFs are like iShares ETFs and contributing to Blackrock's AUM number.

Basically for the number being quoted, Blackrock has voting rights for the stock shares portion of that AUM. Schwab only has the same for those invested in Schwab's own funds.

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