High Enrollment at Schwab Advisor University™ Shows Growing Demand for Training of RIA Firm Staff

More than 5,600 RIA employees participate in online courses to help improve firm operations; new courses on regulatory topics, cost basis and rebalancing in the works

Wednesday, April 20, 2011 10:12 am PDT



Public Company Information:

"We added Schwab Advisor University to our employee on-boarding process. A new employee is able to learn at her own pace"

SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab is seeing impressive enrollment numbers for Schwab Advisor University, the firm’s interactive online training program aimed at helping registered investment advisory firms (RIAs) improve operational productivity and performance. Participants from more than 2,500 RIA firms have enrolled in nearly 6,500 courses since the University launched in June 2010. The online classes are designed to train RIA operations and support staff to become more productive and efficient by using Schwab’s numerous tools and resources. Charles Schwab is a leading provider of custodial, operational and trading support for more than 6,000 independent investment advisory firms.

“RIA firms are increasingly focused on maximizing profitability and efficiency, and they recognize that their back office staff is crucial in helping to make that a reality,” said Nick Georgis, vice president at Schwab Advisor Services. “The strong level of adoption we have seen for Schwab Advisor University speaks directly to RIA firms’ desire to increase their team’s knowledge and productivity. We understand their needs and we will continue to tailor a curriculum to help them meet their needs.”

In a 2009 Schwab research study, 67 percent of advisors surveyed said it would be useful to receive training on how to best use Schwab’s technology tools available through Schwab’s web site for advisors, Schwab Advisor Center. At launch, the course selection was developed based on four major categories of online tools that are crucial for any RIA firm: New Accounts, Account Servicing, Move Money, and Trading & Research.

Schwab Advisor University’s online curriculum is now expanding to meet the evolving needs of RIA firms, with new courses being introduced late this summer on topics that are top of mind for advisor firms, including product launches, cost basis legislation, and popular online tools like rebalancing and position journaling.

“Schwab Advisor University courses are timely and based on advisors’ needs,” Georgis added. “Our business, and these courses in particular, focus on where advisors need additional help and how we can assist them in becoming more productive and efficient.”

The online curriculum is self-paced, allowing staff the flexibility to plan classes around their schedules. Schwab Advisor University helps get people up to speed quickly, and also helps them evaluate what they learned and what they need to learn to build their proficiency. RIA principals, owners and operations managers can oversee training and coursework for their staff. They can provide structured training for new employees and advance development by making course recommendations for specific staff, as well as track progress and manage training.

“We added Schwab Advisor University to our employee on-boarding process. A new employee is able to learn at her own pace,” said Cheryl Holland, president of Abacus Planning Group, Inc. in Columbia, South Carolina. “Now, experienced and new employees have an instant resource for questions that inevitably arise when there’s a gap between introduction of a resource and real life execution. This enables us to be more efficient, execute at a higher quality level and empower more employees for problem solving.”

Schwab Advisor University is part of a suite of tools, training and educational services Schwab provides to help advisors maximize their productivity. In addition, Schwab offers regional events and workshops covering practice management topics important to RIAs such as managing client profitability, recruiting new advisors and compensation succession planning. Education on a broad range of technology solutions and issues is available including the most recent Schwab Market Knowledge Tools®: Integrating Technology Into Your Practice, a whitepaper focusing on strategies for better integrating third-party technology into RIA practices and a new series of articles in the Practice Management Newsletter, focusing on how to get the most out of your CRM.

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.1 million client brokerage accounts, 1.44 million corporate retirement plan participants, 719,000 banking accounts, and $1.65 trillion in client assets as of March 31, 2010. Through its operating subsidiaries, the company 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; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com. (0411-2638)

Schwab University courses are provided for educational informational purposes only. Schwab does not provide specific financial, compliance, regulatory or legal advice.

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Charles Schwab
Jennifer Davis, 415-667-0181

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