Momentum Continues in Advisors Moving to Independence

Twenty percent year-over-year increase in new independent advisor firms

Schwab announces keynote lineup for IMPACT® 2018 in Washington, D.C.;

Janet Yellen and other prominent thinkers to address attendees one week before midterm elections

Wednesday, October 3, 2018 4:00 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"A decade after the onset of the financial crisis, it’s evident that the independent model has flourished along with investors’ demand for fiduciary advice"

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Advisor Services today released its analysis of U.S. Securities and Exchange Commission (SEC) advisor registrations for 2017, which shows that the number of new advisors filing with the Commission as registered investment advisors (RIAs) continued the strong growth trajectory seen in the previous year. According to the data, new registrations jumped 20 percent year-over-year and grew by 59 percent over the last five years, from 150 new RIA firms in 2013 to 238 new firms in 2017.

Firms established in 2017 represented nearly $84 billion in assets under management (AUM) at the time of their registration.

“A decade after the onset of the financial crisis, it’s evident that the independent model has flourished along with investors’ demand for fiduciary advice,” said Jonathan Beatty, senior vice president, sales and relationship management, Schwab Advisor Services. “We are proud of our heritage of supporting independent financial advice. After more than three decades in the space, we remain committed to supporting those making the transition to independence with resources and expertise to set them on a course for long-term success.”

Large firms continue to move to independence at a considerable rate. The number of firms with more than $300 million in AUM represents almost 30 percent of SEC registrations in 2017, up from 12 percent in 2013.

Schwab’s analysis sets the stage for IMPACT®, the largest and longest-running annual gathering of independent advisors in the nation, where many advisors attend to learn more about the independent model and the ecosystem that surrounds it.

Independent advisors gather in D.C. ahead of midterm elections

Nearly 2,000 current Schwab Advisor Services clients along with hundreds of industry professionals will gather at the Walter E. Washington Convention Center in Washington, D.C., October 28-31 to hear from experts about a variety of timely investing and practice management topics.

Just one week before midterm elections, IMPACT attendees will hear from prominent keynote speakers, including Former Federal Reserve Chair Janet Yellen, Former White House Chiefs of Staff Andrew Card and Denis McDonough, leading historian and political commentator Niall Ferguson, Non-Obvious Company Founder Rohit Bhargava, and Horizon Investments Political Strategist Greg Valliere. Advisors will also hear from Schwab’s Executive Vice President and Head of Advisor Services Bernie Clark, Charles Schwab President and CEO Walt Bettinger, Chief Investment Strategist Liz Ann Sonders, and Global Chief Investment Strategist Jeffrey Kleintop.

More information, including the conference agenda and details on event registration, can be found at impact.schwab.com. Schwab will also share information and highlights leading up to and during the conference via @Schwab4RIAs on Twitter and by using #SchwabIMPACT.

About the SEC registration data

Schwab Advisor Services collected and analyzed RIA registration data for 2017 from SEC registration filings. Collectively, the data includes 238 firms and represents approximately $84 billion in AUM. To be included in the analysis, firms must have been established in 2017. More details can be found in the full report.

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.

Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support services of Schwab. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. For informational purposes only.

©2018 Charles Schwab & Co. Inc. (“Schwab”). All rights reserved. Member SIPC.

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