The Charles Schwab team just made a big change to the investor accessibility of their no-transaction-fee mutual fund platform.

Doug Hanson Charles Schwab Vice President, Head of Third Party Mutual Fund Platform

Doug Hanson, vice president and head of Schwab's third-party mutual fund platforms, confirms that the new minimum initial investment through OneSource is $100, and the new minimum subsequent investments is $1; those numbers are down from $2,500 minimum investments (on brokerage accounts) and $500 for subsequent investments. The drop applies across Schwab's own brokerage and IRA accounts, as well as the accounts it custodies for its RIA allies.

"With today's news, it has never been easier or more cost-efficient for investors to build a diversified portfolio of mutual funds," Hanson states.

23-year-old OneSource now offers 4,700 no-load funds from more than 500 families. Across all of Schwab, mutual funds account for about 43 percent of assets. 

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