T. Rowe Price (TROW - Get Report) announced today that retail investors and registered investment advisors (IRA's) can purchase transaction-fee-free investor class shares for its mutual funds through Charles Schwab's (SCHW - Get Report) OneSource, a mutual fund platform, beginning April 3.

More than 100 investor class funds will be accessible without sales charge, no 12b-1 fee, and no transaction fee.

Institutional priced share classes will also be available but carry a transaction fee.

T. Rowe Price, which currently has $810 billion in assets under management, has been taking action to deal with the evolving industry landscape. 

Last month, T. Rowe Price launched a digital advisory platform. However, ActivePlus Portfolios, unlike other digital platforms, only covers actively managed funds.