A Charles Schwab entry into the digital advisory space could shake up the existing players -- but also ramp up the company's rivalry with the traditional advisors who use its custodial services, say industry analysts.

"Although it may seem like bad news for startups in the online advisory market, I think an entry by Schwab may be more of a threat to established advisors, by putting even more downward pressure on fees," says Grant Easterbrook, an analyst for Corporate Insight's Consulting Services in New York.

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