Press Release

Schwab Advisor Services today announced that 74 students from financial planning programs at 13 different universities are participating in the annual IMPACT^® conference. IMPACT is the largest and longest-running annual gathering of independent advisors in the nation. Over the past decade, Schwab has sponsored the attendance of more than 600 undergraduate students from 23 universities as part of its commitment to helping independent advisors attract and develop top emerging talent. The potential next-generation advisors will participate in a custom-tailored schedule at IMPACT, which includes educational and networking opportunities that provide a firsthand look at the financial planning profession.

Independent advisory firm leaders believe that next-generation advisors are critical to sustained industry vitality. According to Schwab’s Independent Advisor Outlook Study, nearly half (44%) of advisors say that finding and retaining talent will be critical to their firms’ success over the next ten years,¹ and most advisors (70%) report that they are focused on hiring entry-level and mid-level employees² who can grow with the firm.

“Forward-looking firms recognize that change is on the horizon and therefore look to hire employees who can meet evolving client needs,” said Lisa Salvi, vice president, Business Consulting Services, Schwab Advisor Services.

IMPACT 2017 Student Agenda Highlights

In addition to joining general sessions and education sessions, students at IMPACT have opportunities to meet with advisors and learn about trends in the financial advice industry. Highlights of this year’s student agenda include:

• Student Union – Schwab will debut a Student Union on The Exchange floor to facilitate informal interactions between students and advisors and accommodate the growing number of student attendees. Students and faculty will gather throughout the conference to share insights.
• Career fair – Students will meet with representatives from 12 advisory firms to learn about day-to-day responsibilities of independent financial advisors and to discuss potential internship and job opportunities.
• Q&A with young advisors – In a candid session, advisors who have worked in the profession for less than five years will share their experiences at independent advisory firms, offer career advice, and answer students’ questions. The discussion is designed to allow students to speak openly with their peers and envision what their career could look like in a few years’ time.
• Dinner with advisors – Students and faculty are invited to join regional dinners hosted by Schwab with advisor attendees. These meetings allow for additional informal networking with advisors and give students a glimpse into how firms work with their custodian.
• Talent-focused education sessions – The agenda includes six education or “Snapshot” sessions that focus on all aspects of talent, including succession planning, compensation, and workforce diversity. In addition, faculty and advisory firm leaders will participate in “Developing the Next Generation of Talent through Internships,” a 75-minute education session about how to implement an effective internship program.

Record of Welcoming Next-Generation Advisors to the Profession

The IMPACT student program is one example of Schwab Advisor Services’ longstanding commitment to cultivating the next generation of independent advisors.

“The one-of-a-kind student experience at IMPACT is an extension of the many investments Schwab makes year-round to attract fresh talent to the industry,” Salvi said. “IMPACT is an ideal environment for students who are considering financial planning because it allows them to learn more about the career path and make connections with leaders in the field.”

Other key initiatives include:

• Student presence at Schwab and industry events – Building on a decade of successful student involvement at IMPACT, this year Schwab Advisor Services welcomed undergraduate students to each of its national client conferences – EXPLORE and ADVANTAGE^® - and brought students as guests to other industry conferences that it sponsored. So far in 2017, more than 20 students have accompanied Schwab executives to conferences during which the students tweet using #FutureRIA.
• University grant program – Schwab Advisor Services helps generate awareness of the RIA profession and champions the development of top advisor talent through grants sponsored by the Charles Schwab Foundation on behalf of advisors. The grants have been given to more than 14 universities and other non-profit organizations since 2007 to support:
  • State of the art facilities – The grants have enabled the development of first-class learning centers on campuses across the country, such as the Charles Schwab Trading and Technology Lab at the University of California, Irvine, and the Charles Schwab Financial Planning Training Center at Temple University.
  • High school programs – The grants have funded programs like the Texas Tech Financial Planning Academy, an annual summer camp established in 2016 that engages high school students from across the country in events designed to develop their financial planning, leadership, communication, and marketing skills. The next camp will take place in June 2018.
• RIA Internship Program – The Schwab Advisor Services RIA Internship Program, an eight-week rotational internship designed to prepare undergraduate students for employment at RIA firms, gives future advisors practical experience in hard and soft skills needed to serve clients. Eighty-four students have graduated from the program since it debuted five years ago, and Schwab will welcome its sixth class of interns in June 2018.

“As the industry continues to mature, independent advisors must become even more strategic about attracting a new generation of talent and clients,” Salvi said. “Schwab is proud to help advisors take their practices to the next level and contribute to the ongoing vibrancy of the independent advice industry.”

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.

¹ Schwab Independent Advisor Outlook Study, Fall 2016

² Schwab Independent Advisor Outlook Study, Fall 2017

Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support of Schwab.

Independent investment advisors and Schwab are independent of each other and are not affiliated with, sponsored by, endorsed by, or supervised by each other. For informational purposes only.

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