Schwab Urges Independent Advisors to Embrace Broader Role in Helping Clients Navigate a Rapidly Changing World
November 15 2017 - 9:45AM
Business Wire
Speaking today in front of a crowd of nearly 5,000 attendees at
Schwab’s IMPACT® conference in Chicago, head of Advisor Services,
Bernie Clark said that “an increasingly important part of your
future role as advisors will be helping clients determine when to
create change… and when to see aspects of change they might not be
considering.” Clark evoked the healthcare industry, artificial
intelligence and evolving workforce dynamics to illustrate that
advisors must embrace a broader role in helping their clients
navigate the forces of change.
In his remarks from the main stage at the nation’s largest and
longest running conference for independent registered investment
advisors, Clark encouraged advisors to “understand more about which
changes will matter most to your clients” by asking “bigger
questions” and expanding areas of expertise.
“Go beyond financial planning and portfolio management,” said
Clark. “Expand your circle of influence to include new experts with
different specializations. Think about bringing on people who
aren’t typical financial hires and be ready to provide counsel and
connect your clients to the right resources.”
According to the results of the latest Schwab Independent
Advisor Outlook Study, also released today at IMPACT, advisors are
actively thinking about what skills they will need in their
businesses going forward. Eighty-two percent of advisors report
that they are seeking employees with “people skills” versus 18
percent who are looking for employees who are “skilled with
numbers.” Moreover, the top three backgrounds considered valuable
in candidates are communications, sales and consulting.
Schwab celebrates 30 years of serving independent
advisors
Schwab Advisor Services marks 30 years of formally serving
independent investment advisors this year. Today Schwab works with
more than 7,500 independent advisors and has more than $1.4
trillion in assets under custody.1
“A lot has happened in those 30 years. But despite tremendous
change, the core things that people care about will never change –
family, relationships, personal and professional fulfillment,
health, and security,” said Clark. “Another thing that doesn’t
change: the value of independent advice. Your model will continue
to resonate. You are why your clients will be able to successfully
deal with change, put it to work for them, and adapt to
strategically build prosperous futures for themselves and their
families.”
About the Independent Advisor Outlook
Study
The Independent Advisor Outlook Study is an online study
conducted for Charles Schwab by Koski Research.
Koski Research is neither affiliated with, nor employed by,
Charles Schwab & Co., Inc. The study was conducted from
September 6 – September 17, 2017, and reflects the responses of 946
RIAs who custody their firm’s assets with Schwab. Participation is
voluntary. A detailed report on the Study is available here.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help
individuals create a better tomorrow. We have a history of
challenging the status quo in our industry, innovating in ways that
benefit investors and the advisors and employers who serve them,
and championing our clients’ goals with passion and integrity. More
information is available at www.aboutschwab.com. Follow us on
Twitter, Facebook, YouTube and LinkedIn.
Disclosures
Through its operating subsidiaries, The Charles Schwab
Corporation (NYSE: SCHW) provides a full range of securities
brokerage, banking, money management and financial advisory
services to individual investors and independent investment
advisors. Its broker-dealer subsidiary, Charles Schwab & Co.,
Inc. (member SIPC, www.sipc.org), and affiliates offer a complete
range of investment services and products including an extensive
selection of mutual funds; financial planning and investment
advice; retirement plan and equity compensation plan services;
compliance and trade monitoring solutions; referrals to independent
fee-based investment advisors; and custodial, operational and
trading support for independent, fee-based investment advisors
through Schwab Advisor Services. Its banking subsidiary, Charles
Schwab Bank (member FDIC and an Equal Housing Lender), provides
banking and lending services and products. More information is
available at www.schwab.com and www.aboutschwab.com.
1 As of October 20, 2017.
Schwab Advisor Services™ serves independent investment advisors
and includes the custody, trading, and support of Schwab.
Independent investment advisors are not owned by, affiliated
with or supervised by Schwab.
For informational purposes only.
(1117-78FV)
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Schwab Corporate Public RelationsRob Farmer,
415-920-3816rob.farmer@schwab.comorThe Neibart GroupMayrav Weiss,
718-801-8864sas@neibartgroup.com
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