Schwab Discontinues Hybrid Robo Advisor, Josh Brown Declares 'Robo-Advice Era is Over'

Charles Schwab is discontinuing its hybrid robo-advisor service, Schwab Intelligent Portfolios Premium, citing enhanced and expanded capabilities in its broader financial planning offerings. The service will be shut down in Q1 2026. This move follows other financial institutions, including JPMorgan, UBS, and US Bank, in pulling back from robo-advisor services. Ritholtz Wealth Management CEO Josh Brown declared "the robo-advice era is over" and that human advisors have won.