Schwab Advisor Services Marks Decade of Helping to Fuel the Talent Pipeline with Record Number of Student Attendees at Schwab...
November 15 2017 - 12:45PM
Business Wire
Student presence at IMPACT reflects year-round
efforts to inspire and attract future advisors to the independent
model
Schwab Advisor Services today announced that 74 students from
financial planning programs at 13 different universities are
participating in the annual IMPACT® conference. IMPACT is the
largest and longest-running annual gathering of independent
advisors in the nation. Over the past decade, Schwab has sponsored
the attendance of more than 600 undergraduate students from 23
universities as part of its commitment to helping independent
advisors attract and develop top emerging talent. The potential
next-generation advisors will participate in a custom-tailored
schedule at IMPACT, which includes educational and networking
opportunities that provide a firsthand look at the financial
planning profession.
Independent advisory firm leaders believe that next-generation
advisors are critical to sustained industry vitality. According to
Schwab’s Independent Advisor Outlook Study, nearly half (44%) of
advisors say that finding and retaining talent will be critical to
their firms’ success over the next ten years,1 and most advisors
(70%) report that they are focused on hiring entry-level and
mid-level employees2 who can grow with the firm.
“Forward-looking firms recognize that change is on the horizon
and therefore look to hire employees who can meet evolving client
needs,” said Lisa Salvi, vice president, Business Consulting
Services, Schwab Advisor Services.
IMPACT 2017 Student Agenda Highlights
In addition to joining general sessions and education sessions,
students at IMPACT have opportunities to meet with advisors and
learn about trends in the financial advice industry. Highlights of
this year’s student agenda include:
- Student Union – Schwab will
debut a Student Union on The Exchange floor to facilitate informal
interactions between students and advisors and accommodate the
growing number of student attendees. Students and faculty will
gather throughout the conference to share insights.
- Career fair – Students will meet
with representatives from 12 advisory firms to learn about
day-to-day responsibilities of independent financial advisors and
to discuss potential internship and job opportunities.
- Q&A with young advisors – In
a candid session, advisors who have worked in the profession for
less than five years will share their experiences at independent
advisory firms, offer career advice, and answer students’
questions. The discussion is designed to allow students to speak
openly with their peers and envision what their career could look
like in a few years’ time.
- Dinner with advisors –
Students and faculty are invited to join regional dinners hosted by
Schwab with advisor attendees. These meetings allow for additional
informal networking with advisors and give students a glimpse into
how firms work with their custodian.
- Talent-focused education
sessions – The agenda includes six education or “Snapshot”
sessions that focus on all aspects of talent, including succession
planning, compensation, and workforce diversity. In addition,
faculty and advisory firm leaders will participate in “Developing
the Next Generation of Talent through Internships,” a 75-minute
education session about how to implement an effective internship
program.
Record of Welcoming Next-Generation Advisors to the
Profession
The IMPACT student program is one example of Schwab Advisor
Services’ longstanding commitment to cultivating the next
generation of independent advisors.
“The one-of-a-kind student experience at IMPACT is an extension
of the many investments Schwab makes year-round to attract fresh
talent to the industry,” Salvi said. “IMPACT is an ideal
environment for students who are considering financial planning
because it allows them to learn more about the career path and make
connections with leaders in the field.”
Other key initiatives include:
- Student presence at Schwab and
industry events – Building on a decade of successful student
involvement at IMPACT, this year Schwab Advisor Services welcomed
undergraduate students to each of its national client conferences –
EXPLORE and ADVANTAGE® - and brought students as guests to other
industry conferences that it sponsored. So far in 2017, more than
20 students have accompanied Schwab executives to conferences
during which the students tweet using #FutureRIA.
- University grant program –
Schwab Advisor Services helps generate awareness of the RIA
profession and champions the development of top advisor talent
through grants sponsored by the Charles Schwab Foundation on behalf
of advisors. The grants have been given to more than 14
universities and other non-profit organizations since 2007 to
support:
- State of the art facilities –
The grants have enabled the development of first-class learning
centers on campuses across the country, such as the Charles Schwab
Trading and Technology Lab at the University of California, Irvine,
and the Charles Schwab Financial Planning Training Center at Temple
University.
- High school programs – The
grants have funded programs like the Texas Tech Financial Planning
Academy, an annual summer camp established in 2016 that engages
high school students from across the country in events designed to
develop their financial planning, leadership, communication, and
marketing skills. The next camp will take place in June 2018.
- RIA Internship Program – The
Schwab Advisor Services RIA Internship Program, an eight-week
rotational internship designed to prepare undergraduate students
for employment at RIA firms, gives future advisors practical
experience in hard and soft skills needed to serve clients.
Eighty-four students have graduated from the program since it
debuted five years ago, and Schwab will welcome its sixth class of
interns in June 2018.
“As the industry continues to mature, independent advisors must
become even more strategic about attracting a new generation of
talent and clients,” Salvi said. “Schwab is proud to help advisors
take their practices to the next level and contribute to the
ongoing vibrancy of the independent advice industry.”
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 Schwab Independent Advisor Outlook Study, Fall 2016
2 Schwab Independent Advisor Outlook Study, Fall 2017
Schwab Advisor Services™ serves independent investment advisors
and includes the custody, trading, and support of Schwab.
Independent investment advisors and Schwab are independent of
each other and are not affiliated with, sponsored by, endorsed by,
or supervised by each other. For informational purposes only.
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Schwab Corporate Public RelationsMeredith Richard,
646-343-7419meredith.richard@schwab.comorThe Neibart GroupMayrav
Weiss, 914-500-5874sas@neibartgroup.com
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