Schwab Intelligent Advisory™ Named Winner of a Celent 2018 Model Wealth Manager Award
April 24 2018 - 12:00PM
Business Wire
Schwab Intelligent Advisory™, Charles Schwab’s hybrid advisory
service, has been recognized by Celent as a winner of a 2018 Model
Wealth Manager award for client experience. Celent is a global
research and advisory firm for the financial services industry.
Celent’s award program recognizes financial institutions as
‘model wealth managers’ for their outstanding technology
initiatives. In order to win, the initiatives must demonstrate
clear business benefits, innovation, and technology or
implementation excellence.
Schwab Intelligent Advisory, which launched in March 2017,
combines a live CERTIFIED FINANCIAL PLANNER™ professional and
advanced technology to make financial and investment planning more
accessible. The service provides investors with a holistic digital
financial plan tailored to their situation and goals, unlimited
guidance and expertise from experienced Planning Consultants, and a
fully automated and diversified portfolio − all at a very low
cost.
Schwab Intelligent Advisory is one of the most accessible and
lowest-cost advisory solutions available to investors today with a
$25,000 minimum, an annual advisory fee of 0.28% of assets, and a
quarterly maximum fee cap of $900.
“Schwab Intelligent Advisory makes it easy to create and
maintain a financial plan, and delivers on what today’s consumers
expect – a personalized user experience that rivals not only other
financial services experiences, but best-in-class consumer
experiences anywhere,” said Cynthia Loh, Charles Schwab vice
president of digital advice and innovation. “Less than one quarter
of Americans actually have a written financial plan,* and we
believe that making investing and planning accessible to more
Americans is something our industry needs to tackle head on. We’re
addressing this gap by modernizing the client experience to help
consumers turn their passions into plans they can engage with and
achieve.”
Loh noted that Schwab Intelligent Advisory clients have provided
positive feedback on their experience with the service –
approximately three-quarters say they are satisfied with the
planning tool and more than 90 percent say they are satisfied with
their interaction with the Planning Consultants.**
“The wealth management industry is evolving to meet the changing
expectations of more digitally-savvy clients, and services like
Schwab Intelligent Advisory are leading the way,” said Ashley
Globerman, Wealth Management Analyst at Celent. “The combination of
live professionals and technology not only enhances the client
experience investors have with a firm, but it also democratizes
investing and wealth management for emerging and mass affluent
consumers who might not otherwise have access.”
Client assets managed by Schwab’s digital advisory solutions
which include Schwab Intelligent Portfolios®, Institutional
Intelligent Portfolios®, and Schwab Intelligent Advisory™ totaled
$30.6 billion as of March 31, 2018, up 92% year-over-year.
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.
*2017 Schwab Modern Wealth Index survey
**Schwab client data
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.
Please read the Schwab Intelligent Advisory™ disclosure
brochures for important information about this program.
Schwab Intelligent Advisory™ is made available through Charles
Schwab & Co., Inc. ("Schwab"), a dually registered investment
advisor and broker-dealer. Portfolio management services for Schwab
Intelligent Portfolios® are provided by Charles Schwab Investment
Advisory, Inc. ("CSIA"), a registered investment advisor. CSIA, and
Schwab are affiliates and are subsidiaries of The Charles Schwab
Corporation.
Schwab Intelligent Advisory charges no commissions or account
service fees. Schwab affiliates do earn revenue from the underlying
assets in Schwab Intelligent Portfolios accounts. This revenue
comes from managing Schwab ETFs™ and providing services relating to
certain third party ETFs that can be selected for the portfolio,
and from the cash feature on the accounts. Revenue may also be
received from the market centers where ETF trade orders are routed
for execution.
Institutional Intelligent Portfolios® (“IIP”) is a technology
and service platform made available by Schwab Performance
Technologies (“SPT”). Charles Schwab & Co., Inc. (“Schwab”) a
registered broker-dealer and member SIPC, provides custody, trading
and support services. SPT and Schwab are subsidiaries of the
Charles Schwab Corporation.
©2018 Charles Schwab & Co., Inc. All rights reserved. Member
SIPC
(0418-81XM)
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Charles SchwabMichael Cianfrocca,
415-667-0344michael.cianfrocca@schwab.com
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