Schwab Advisor ServicesTM Announces Recipients of 2019 Operational Excellence Awards

Tuesday, August 27, 2019 5:00 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"We are thrilled to recognize these four firms for their commitment to digitization, automation, and technology adoption. Their success demonstrates that, when implemented thoughtfully and strategically, technology not only promotes efficiency, but frees up advisors to spend time on what matters most: serving investors."

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services announced the winners of its second annual Operational Excellence Awards that honor independent advisory firms for superior use of technology to increase firm productivity and efficiency, enhance and modernize the client experience, and shield employees and clients from fraud.

The awards were distributed onstage at Schwab’s 2019 SOLUTIONS® events, a series of one-day workshops across the country where approximately 2,000 advisors learn about the latest Schwab technology tools and resources as well as best practices for maximizing operational efficiency.

This year’s winners are:

Award Winner

City

Purus Wealth Management

Los Angeles

Chicago Partners Wealth Advisors

Chicago

Rappaport Reiches Capital Management

Chicago

FPC Investment Advisory

San Francisco

“Increasingly, firms are unleashing the power of technology to create greater scale and supercharge business growth,” said Andrew Salesky, senior vice president and head of digital advisor solutions, Charles Schwab. “We are thrilled to recognize these four firms for their commitment to digitization, automation, and technology adoption. Their success demonstrates that, when implemented thoughtfully and strategically, technology not only promotes efficiency, but frees up advisors to spend time on what matters most: serving investors.”

Across the industry, advisory firms are taking steps to reap the benefits of technology. According to Schwab’s 2019 RIA Benchmarking Study, leveraging technology to improve productivity is a top priority for advisors. In fact, the study found that over the past five years, firms have increased the number of clients per professional and decreased time needed for operations and administration. Schwab’s latest Independent Advisor Outlook Study reveals a similar enthusiasm for technology. Nearly 60% of advisors plan to implement new technology this year, with the ultimate goals of serving more clients, reducing manual work, focusing employees on value-added tasks, and enhancing security.

To honor the Operational Excellence Award winners, Schwab will make a donation to the Foundation for Financial Planning in each firm’s name.

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.

Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

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.

©2019 Charles Schwab & Co., Inc. (“Schwab”) All rights reserved. Member SIPC.

(0819-9FVK)

Contact:

Meredith Richard
Schwab Corporate Public Relations
212-403-9255
meredith.richard@schwab.com

Sydney Layne
The Neibart Group
718-801-8301
sas@neibartgroup.com

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