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I always look forward to seeing the latest issue of On Investing in my mailbox, and the Summer 2011 edition is no exception.
On the cover, there’s a great photo of John Cardosa of Phoenix, one of four Schwab clients featured in an article about “How Traders Think.” After working in investment banking, at a hedge fund and in corporate development, John quit his “day job” about a year ago and began to trade his own account.
In addition to client stories, this edition features articles by Schwab experts including Liz Ann Sonders, Carrie Schwab-Pomerantz, Greg Forsythe, Rande Spiegelman – oh, and a guy named Charles Schwab.
The quarterly On Investing magazine is mailed to Schwab clients but can also be downloaded for the iPad™ from Apple’s App StoreSM. Check it out!
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Many U.S.-based investors prefer to do their investing and receive financial guidance in another language. Schwab works with U.S.-based Asian and Hispanic investors in their preferred languages and cultural styles...(Read More)
Communicating with our clients is always a top priority at Schwab, but we’ve been doing even more of it since Aug. 1, when the debt ceiling agreement was announced.
Here’s a brief recap, by the numbers ...
Q: My daughter recently graduated from nursing school after attending a four year university and receiving a degree in psychology. She realized a psychology degree doesn’t put food on the table. She is now employed full time as a nurse and is making a decent income. My question for you is she has accumulated about $25,000 in student loans and doesn’t know if she should try to save and invest while paying off the loans over many years or try to pay the loans as fast as possible?—Donald M.
Thanks for the question, Donald. For whatever solace it can provide, the majority of students today are graduating with loans – so your daughter is in very good company ...
A Word with Walt Bettinger
Posted by Alison WertheimThe economy and stock market have encountered rough waters of late, and when Schwab CEO Walt Bettinger thinks about turbulence, it’s clear he believes that the company’s role is to help investors suit up for the challenge. I spent some time talking with Walt about how investors are feeling, and how Schwab’s help and guidance might help them navigate the turns ahead...(Read More)
Big Changes to Big Apple Branches
Guest post by Lisa Kidd HuntSchwab’s more than 300 branches across the country play a critical role in helping engage with clients to identify, work towards, and ultimately reach their financial goals. In many ways, Schwab’s branch managers and financial consultants are the face of what we try to do everyday - provide investors with meaningful investing help that is grounded in their specific situation and goals.
With that in mind, I’m particularly excited about two new flagship branches that opened in New York this fall – one located at Grand Central and a second Midtown branch...(Read More)
Schwab’s Culture of Diversity
Posted by Sarah BulgatzDiversity is an integral part of the corporate culture at Schwab, something that impressed me right from my first days with the company over 12 years ago. Cathy Campbell is the HR director who heads up all of Schwab’s diversity initiatives, and I had the opportunity to talk to her about why diversity and inclusion are so important at Schwab...(Read More)
We often get asked how our clients are feeling about specific market events, and how they are responding to market activity in general. For a window into the current state of mind of Schwab clients, last month we talked to a good number of our branch managers – 137 financial pros who are responsible for managing nearly 300 branches across the country – using a short survey that posed a few key questions. Here’s a look at what we asked them, and what they told us...(Read More)
Gone Phishing
Posted by Sarah BulgatzFrom time to time, we get reports of people receiving phishing emails masquerading as communications from Schwab, asking the recipient to click on a link or respond by providing or verifying personal information. The term “phishing” refers to fraudsters “fishing for information,” trying to lure people to divulge personal data that can later be used for a crime.
The good news is that people are generally becoming much more wary about attempts like this, although occasionally some of us have made the mistake of acting before thinking and clicking on a questionable link… In that spirit, I thought it would be useful to spend a little time with Schwab’s chief information security officer, Andy Caspersen, to get his perspective and tips on avoiding phishing scams and being safe online.
SB: How can people recognize a phish and what should they do when they get one?....(Read More)
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)
For years, our ads have been asking you to Talk to Chuck™. And we’ve been listening – over the phone, at our branches and on our websites. Now we want to share a little of what we’ve heard.
We’re relaunching About Schwab today to feature client stories at the top of our home page. In this online experience, you can hear clients tell their own stories, in their own words, as you see a gallery of images from documentary photographer Toni Greaves.
Jamie Wulf propped baby Ashlyn on her left hip as she bustled around the kitchen, preparing for the nightly routine of “Daddy’s home,” followed by dinner.
Over the past year, Jamie and her husband Nathan have learned new ways to balance work, home life and finances. But before their first child came along, this thirty-something couple enjoyed running, hiking and “anything outdoors.”
The Lighter Side of Money
Posted by Lindsay TilesFirst a Facebook page, then Twitter handles, then a corporate blog, what’s next? We spend a fair amount of time thinking about what our firm can and should do in the social media realm in order to serve our clients, build new relationships, and share news and insights. One tactic we’ve been employing of late is to increase the number and types of video content that we produce and distribute through our social channels...(Read More)
Safety is Job 1 for the San Francisco Bar Pilots. I learned that before I ever set foot on their tugboat.
Picture this: You're wearing a neon-orange “float coat” zipped up to your chin, with a carabiner roughly the size of a hubcap clipped in front. And the metal isn't just for bling. If you happen to fall overboard, the pilots will hook that carabiner like a marlin and reel you back in. That's comforting.
It's a common comparison: Investing is a marathon, not a sprint. But for avid runner Kirk Larson, life imitates metaphor.
“Investing probably is a marathon for me, even though I don't run marathons,” he said. “Both in terms of my running and in terms of investing, I do sort of take a long view of it.”
Gus Franke has already retired once, after a 20-year Army career took him around the world and back.
But Gus went from the military straight into a second career, running his own flag and banner business. In work and in life, he has a true partnership with wife Betty, who handles the books while Gus takes care of the clients. And with an Internet-based business, they have the flexibility to work from home.
Now, Gus and Betty are preparing to retire for a second time by turning the business over to their daughter.
A common misperception is that data thieves are shady hackers striving to access data from distant locations. Some security threats fall into this category, but often theft involving companies happens closer to home—sometimes within your office.
Below is a list of tips for protecting your firm's most valuable assets...(Read More)
For the past few months, I’ve spent time visiting our branch locations in markets around the country. The conversations I’ve had with our branch teams who are on the front lines every day have covered a wide range of topics, but they are all centered on one thing: our clients. At Schwab, we have a pretty simple strategy that guides us – we build our business through the eyes of our clients. And that starts with understanding their situation, needs and goals...(Read More)
Lisa Herhold, CFP®, is manager of Schwab’s Cherry Creek Branch in Denver, Colorado. She has been with Schwab serving retail clients in the branch network since 1996 and has seen a lot of drama in the markets over the years. I interviewed Lisa to get some insight into her particular background, her experience as a woman in financial services, and her views on what’s most important in serving women clients...(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.
On the frontline serving women who seek advice: A chat with Atlanta FC Debbie Lucente
Posted by Sarah BulgatzDebbie Lucente is a financial consultant with Charles Schwab & Co., Inc. (“Schwab”) in the Atlanta–Buckhead branch office. A 13-year veteran with Schwab, she works with individual investor clients on a daily basis. Her practice includes couples as well as single women who are experiencing transitions in their lives that have significant financial impact. I sat down with Debbie to get her take on why it’s important for financial professionals like her to make any extra effort in reaching out to women...(Read More)
Ten years ago, Schwab unveiled two new approaches to investment research and advice that were created to give people alternatives to traditional Wall Street practices.
In May 2002, Schwab introduced Schwab Equity Ratings®, an objective system for rating more than 3,000 U.S. stocks, and Schwab Private Client, a unique brokerage advice service featuring a 1-1 relationship for clients looking for personalized investment advice from their broker while maintaining close involvement and full control over their investment decisions.
Both of these offers were disruptive in the financial services industry when they were launched and continue to be unique today.
In recognition of these two 10-year anniversaries, we’ll be doing a two-part series this week on the Schwab Talk blog. Today we’ll take a look at Schwab Equity Ratings with Greg Forsythe, CFA, senior vice president with Schwab Center for Financial Research, who oversees Schwab Equity Ratings....(Read More)
“I grew up here in Atlanta and have been here all my life, with the exception of a couple of years when I lived I Germany. Initially, when I went to college, I majored in liberal arts, which is, you know, worth a cup of coffee today. But anyway, I went to work at my church in the food service department. I wanted insurance and didn’t have any. It was a safe place for my young children. So I worked, and goodness – I loved it from the first day I walked in the door. I was food service director for 25 years, and then the last 10 years, wedding director and events planner. It was a wonderful, wonderful experience. I wouldn’t take anything for it, but 35 years of anything is enough.”
Meet Carolyn Clayton – a tiny dynamo and natural-born storyteller. In fact, she turned her years of food service experience into a book...
When Clients Speak, We Listen!
Posted by Joan Cusick
Many people have asked, “How did you find clients to tell their Schwab stories?” With Wanda Starks, the answer was as close as Schwab.com. Wanda is one of the thousands of clients who have taken the time to submit ratings of Schwab accounts through Clients Speak™.
Then I met Wanda. From the minute she answered the door of her Atlanta-area home, I realized she’s one of those people...
Andrew Szymke is a young man on the go.
His first smart move was to receive an electrical engineering degree from Clemson University. Then he flirted with patent law in Washington D.C., before returning to the Atlanta suburbs. Now, he’s followed in his father’s footsteps as a regional sales manager for a medical device company “I’ve known my whole life.”
Just don’t ask me to explain what he does. Better let Andrew describe that...
Think back – if you can – to the 1970s. Before the Internet. Before e-mail. Before texting. That's when Charles Kenmore (the executive) and Charles Schwab (the business) got started.
“When I joined the telecom industry, an adage was shared with me, and I think it's still applicable today: If you've got two phones, that's a limited advantage. But if you have a million people connected, that is more than a million times more valuable than having two people connected,” Kenmore said in an interview... (Read More)
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)
While Schwab Talk blog was reminiscing about 1992 – the year we established the Mutual Fund OneSource® service – members of our Client Connection online community were talking about how their personal investing style has changed in the past 20 years.
“It is the classic case of the turtle and the hare,” Joyce B. said. Other clients agreed that, when it comes to investing, slow and steady wins the race.
“In 1992 I was almost a day trader – maybe a week trader... (Read More)
An Invitation to Meet Schwab’s Branch Managers
Guest post by
When I joined Schwab earlier this year to lead the company’s retail branch network, I knew I was joining a company with a strong brand and great people. But it’s one thing to say Schwab has great people – let’s face it, companies say that all the time. It’s more difficult to prove it to someone who doesn’t interact with us regularly and experience our people first-hand...(Read More)
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