With higher amounts, investors have access to customized services, like personalized and fast client support, private banking and wealth management, and to specialized financial products, that a broker normally don’t have.
The appeal of T212 is reduced fees and fractional shares, for deep pockets investors, none of that matters for them. Professional investors and HNWI value other features, like access to customized and specialized services and products, and mainly time-saving services (the more money someone have, more valued is time).
Even investors with less money prefer a simple and less-time demanding service (e.g. tax reporting), and for that they prefer to pay more fees to have less work to report taxes or pay fees to have a better management of their investments or pay fees to have access to all the financial instruments, markets and financial markets, they want to.