Schwab Urges Independent Advisors to Embrace Broader Role in Helping Clients Navigate a Rapidly Changing World

Wednesday, November 15, 2017 6:45 am PST



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"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."

CHICAGO--(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 Follow us on Twitter, Facebook, YouTube and LinkedIn.


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,, 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 and

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.



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