Schwab Advisor Services™ Launches Virtual Practice Management to Support Firms of All Sizes

Thursday, March 5, 2020 5:00 am PST



Public Company Information:

"Firms of all kinds need support to enable their success, and it’s a critical part of our role as custodian to offer help and guidance in the ways we are uniquely suited to deliver."

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services announced today the launch of Virtual Practice Management (VPM), on-demand content and programs designed to help independent investment advisors who custody with Schwab reach toward their strategic goals. VPM programs deliver guidance at the convenience of the advisor and are supplemented with opportunities to work with Schwab consultants and connect with other advisors.

“We are committed to ensuring firms of all sizes continue to thrive, achieve their goals, and gain competitive advantage in an increasingly dynamic marketplace,” said Tom Bradley, senior vice president, Schwab Advisor Services. “Firms of all kinds need support to enable their success, and it’s a critical part of our role as custodian to offer help and guidance in the ways we are uniquely suited to deliver.”

Benefiting All Advisors, Easing Time Commitment

While VPM covers critical topics and best practices that benefit all firms, the on-demand aspect will be particularly helpful to smaller firms. Since advisors can participate on their own terms and without leaving their offices, the programs are especially suited to those who may have limited time to travel to conferences or seminars.

“In our recent Pledge to the independent advisor community, we restated our commitment to in-depth practice management consulting and insights for every firm on our platform. Our new Virtual Practice Management offer is an important part of that commitment,” said Lisa Salvi, vice president, Business Consulting & Education, Schwab Advisor Services. “We’re proud to say, for example, we can now help all firms establish an ideal client persona, which we believe is foundational to any goal a firm is working toward.”

The first VPM programs help RIAs differentiate themselves in the marketplace by defining value through their clients’ eyes and establishing tangible next steps to attract more ideal clients. According to Schwab’s 2018 RIA Benchmarking Study, firms that documented their ideal client persona and client value proposition attracted 26% more clients and 41% more new assets than firms without these frameworks. Programs that assist advisors with cybersecurity and strategic planning will be available soon.

Advisors with up to $100 million in total assets under management (AUM) show robust firm growth, according to Schwab’s 2019 RIA Benchmarking Study. These firms saw a five-year AUM compound annual growth rate (CAGR) of 8%, a pace second only to firms with between $750 million to $1 billion in AUM. These firms are also leading in organic growth, with a five-year CAGR of 6%, the highest across all peer groups.

Revenue growth for firms with up to $100 million in AUM was also comparatively higher than almost all peer groups, at a five-year CAGR of 10%. Since 2014, these firms have seen a 21% increase in the number of clients, at the median, and in 2018, assets from these new clients were six times greater than net assets from existing clients.

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.

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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

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.

The RIA Benchmarking Study from Charles Schwab comprises self-reported data from advisory firms that custody their assets with Schwab. Schwab does not independently verify or validate the self-reported information. The 2019 RIA Benchmarking Study, fielded January to March 2019, contains data from 1,310 firms. Participant firms represent various sizes and business models.

©2020 Charles Schwab & Co., Inc. (“Schwab”) All rights reserved. Member SIPC.



Meredith Richard
Charles Schwab

Travis Fishstein
The Neibart Group

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