For nearly 25 years, Schwab Advisor Services has provided custodial, operational and trading support to RIAs. Given our history and experience in the RIA space, we thought we’d take the opportunity to share some information that we hope will shed light on RIAs ― one of the fastest growing segment of the financial services industry... (Read More)
The new cost basis reporting regulations may be causing some concern for many registered independent advisors (RIAs). Not only do they have to manage the complexities of the regulations within their firms, but they also have to figure out how to communicate the new rules to clients....(Read More)
To understand why 2010 was a “record-breaking year” for independent registered investment advisors (RIAs), take a look at the results of the 2011 RIA Benchmarking Study from Charles Schwab. For most firms participating in the Study, their revenue and assets under management reached levels higher than ever before even though markets have not fully recovered to previously achieved highs...(Read More)
In addition to providing custodial, operational and trading support to registered investment advisors (RIAs), Schwab Advisor Services also tracks industry-wide information on mergers and acquisitions (M&A) activity in the RIA space. Schwab recently announced RIA M&A results for the first half of 2011, reporting a substantial jump in the amount of assets under management (AUM) that changed hands in the first half of this year...(Read More)
Tips for Greening Your Business Conference—Taken from the Schwab IMPACT PlaybookPosted by Jennifer Davis
When it comes to planning for our annual IMPACT conference for independent investment advisors, Schwab’s events staff thinks green. Schwab’s biggest event draws thousands of attendees to the host city, and it is considered a top priority to make the conference as environmentally friendly as possible...(Read More)
Nearly 4,000 people are descending on the Moscone Center in San Francisco for the largest Schwab-sponsored event of the year, the 20th annual IMPACT conference targeted to registered investment advisors (RIAs).
Starting with a pre-conference session this afternoon, attendees will hear the perspectives of financial leaders, select from 82 educational sessions, congratulate the winners of the sixth annual IMPACT Awards, and experience an Expo with more than 300 exhibitors.
In a word, it’s big.
Tony Blair Brings Global Point of View to Advisors at Schwab’s IMPACT ConferencePosted by Jennifer Davis
Tony Blair, former prime minister of the UK, had two things on his mind that he wanted to share with registered investment advisors at Schwab’s IMPACT conference: The economy and security.
Why? Because global events are shaping our political, social and economic destiny.
At this morning's general session of IMPACT 2011, Chuck Schwab sat down with Maria Bartiromo from CNBC for a chat about everything from entrepreneurship to the Greek economy...(Read More)
Joshua Cooper Ramo, the youngest managing director at Kissinger Associates, addressed the IMPACT 2011 crowd on Thursday afternoon. Ramo started off by entertaining the crowd with an affectionate and dead-on impression of his boss, Henry Kissinger himself. Relating a conversation he had with Kissinger a few years ago, Ramo said that he asked the former Secretary of State and learned historian whether he had ever seen or studied a period of time like this one. Kissinger apparently answered: “Not since the fall of the Roman Empire.”...(Read More)
Retired Astronaut and Navy Officer Mark Kelly closed the IMPACT conference last week by sharing his inspirational journey to space and the challenges he experienced along the way including the shooting of his wife Congresswoman Gabrielle Giffords...(Read More)
It was huge, with a record 4,000-plus financial advisors, exhibitors, media and Schwab employees in attendance.
It was educational, with inspiring keynote speakers and 82 different educational sessions.
It was news-making, with CNBC broadcasting live from the Expo floor and daily coverage in more publications than I can count.
Most of all, IMPACT 2011 was the place to talk with other first-timers like me...
In a press release last week we shared some new data and insights about how our clients are feeling about the markets and investing and what they are doing about getting advice.* Here are some of the highlights:
• Just 26% feel better off financially than they did one year ago, down from 44% who said they felt better off in Q4 2010.
• Only one-third (33%) now say they feel confident in their ability to make investment decisions.
• Seventy-seven percent say they’re most confident when receiving ongoing or periodic professional investment advice.
We know it continues to be a challenging time for investors. And while Schwab is still often thought of as a “discount” brokerage for mostly self-directed investors, the fact is that we have a wide range of services and products for people looking for professional advice. With that in mind, here are three things you may not know about investment advice at Schwab...(Read More)
Thirty-three percent of independent advisors in a 2011 Charles Schwab study said that attracting and retaining clients was one of the potential challenges of joining or starting an independent registered investment advisor (RIA) firm. But according to Tim Oden, senior managing director of business development for Schwab Advisor Services, it doesn’t have to be. Tim says that when it comes to your clients, there’s a right time, place, and way to communicate that you’re moving to the RIA model...(Read More)
We recently conducted our annual Advisors Turning Independent (ATI) survey of advisors working at major financial firms. This year’s survey produced quite a few interesting results, some of which are captured...(Read More)
Schwab’s Tim Oden sat down recently and responded to questions from some of our Twitter followers about advisors making the move to the RIA model. For those of you who sent in questions, thank you for participating. For those who didn’t have a chance to send us a question, we thought it would be helpful to recap some of the major themes...(Read More)
A Conversation with RIA Heather R. Ettinger on Financial Life Planning for WomenPosted by Jennifer Davis
Heather R. Ettinger is Managing Partner at Fairport Asset Management, a firm now celebrating 49 years as a registered investment advisor. For more than 25 years, Heather has dedicated her career to helping women build their financial acumen and wealth through both her professional practice and her community involvement. As part of our May blog series that focuses on the importance of women in financial services and investing, Heather agreed to sit down and answer a few questions for us.
Tell us about yourself. How did you get where you are today professionally?
When I entered the industry in the early 80s it was clearly a much underserved market where I could make a difference...(Read More)
Six photos hang behind Carol Benz's desk at Bingham, Osborn & Scarborough, LLC, Wealth Management. The clear colors of hand-blown glass. The texture of a hand-woven hammock. The landscape of Mexico.
Each photo tells an individual story. But the framed collection forms a much larger picture.
When I walked into Smith & Howard Wealth Management in Atlanta, I realized a “family office” looks like any other office. But in my conversation with Partner Mike DeWitt, I learned that what happens in a family office is distinctly different from many other registered investment advisor (RIA) firms – and it’s definitely different from a broker-dealer like Schwab.
“We serve as the family CFO for our clients, and in that capacity we handle really every aspect of their financial lives,” Mike said. “One of the things that differentiates us from a lot of other firms is we are part of a full service accounting firm... (Read More)
SOLUTIONS® 2012, New York City: Advisors Discuss Integrating Technology for Better Business ResultsPosted by Jennifer Davis
On July 24th, Schwab Advisor Service’s SOLUTIONS conference made its third stop in New York, NY.
What is SOLUTIONS?
Schwab SOLUTIONS®2012 is a multi-city conference tour that we host every year focused on helping independent investment advisors get the most out of the technology in their offices. Now in its 12th year, SOLUTIONS is a full day of workshops and seminars with Schwab subject matter experts, along with small roundtable conversations where advisors can share technology best practices with peers.
This year, the roundtables focused on an important topic for independent advisory firms: customer relationship management, or CRM....(Read More)
The full keynote speaker line-up for IMPACT won’t be released until tomorrow, but we’re breaking news today by announcing additional speakers for one of the industry’s largest and longest-running annual gathering of independent investment advisors.
We announced a partial keynote line-up back in June, but who else will appear on the main stage at McCormick Place in Chicago on November 13-16?...(Read More)
Schwab just released its annual RIA Benchmarking Study, and this year more than 1,000 firms, representing over $425 billion in assets under management (AUM) participated - a 25% increase over last year. While the number of participating firms accounts for less than 10% of the industry, the total AUM is equal to approximately 15% of industry assets.*
Schwab’s Jon Beatty sat down recently to talk about the key takeaways from the Study. In particular, he was struck by how strongly advisors are prioritizing strategic planning as well as succession planning....(Read More)
Charles Schwab’s Neesha Hathi says that CRM is the brains, and not just the repository for all your knowledge about your clients. It can be the system that helps you deliver a “Know Me” experience to your clients. But if this is the case, why are so few RIA firms using their CRM to its fullest potential?
This summer, Schwab Advisor Services polled 1,608 independent advisors on their use of customer relationship management (CRM) technology. The poll participants were registrants for Schwab SOLUTIONS® 2012, a multi-city conference tour that we host every year, focused on helping independent investment advisors get the most out of the technology in their offices. In our poll... (Read More)
It’s one the biggest conferences for independent investment advisors, complete with headline-making speakers, an exhibitor hall bigger than Soldier Field, and even its own mobile app.
Schwab Advisor Services’ IMPACT® 2012 begins in three weeks at McCormick Place in Chicago.
“Together we’re unstoppable” is the theme for the 21st annual event. And “unstoppable”...
Bernie Clark, executive vice president of Charles Schwab & Co., Inc., and head of Schwab Advisor Services, shares insights on what to expect at IMPACT and what's coming in 2013.
Schwab's Jon Beatty talks about the past year, deeper consulting relationships, and what he looks forward to when going to IMPACT.
Managing a practice is a key area of concern for many advisors. Vice President Nick Georgis addresses advisors' top practice management challenges and what Schwab is doing to help them.
Raising awareness of the independent registered investment advisor is key for Schwab. Schwab's Senior Vice President of Marketing, Michelle Draper, shares what she sees as the key IMPACT activities while sharing more on advocacy work in 2013.
Schwab's Naureen Hassan tackles developing the right client experience for advisors and, in turn, their end-clients.
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