Press Release

In a gathering of 100 independent advisor clients, who represent $61 billion in assets under management (AUM),¹ Schwab Advisor Services celebrated the momentum of the independent advice model while pointing to the $23 trillion dollars of assets² still advised outside the model and challenging attendees to focus on new investor acquisition.

At Schwab’s inaugural ADVANTAGE^® conference, Jon Beatty, senior vice president and head of sales and relationship management, told attendees, “The RIA industry has a ton of momentum, and we believe there is potential for further acceleration thanks to such factors as increasing business optimism and the growing number of investors seeking guidance and a relationship with someone they can trust. When the winds are at your back, it is a perfect time to get serious about acceleration, and new investor acquisition strategies are critical to take advantage of this environment.”

According to Schwab’s 2016 RIA Benchmarking Study, firms with $250 million or more in AUM have grown more than 60 percent in the past five years. However, Beatty underscored that for firms to continue to compete, they must “have a plan to bring new households in…otherwise, valuations are at risk, and so is talent.”

In support of this call to action, the two-day ADVANTAGE program includes perspectives from Schwab executives and outside speakers on a range of trends, best practices, techniques, and technologies integral to the execution of growth strategies by independent advisor firms. Highlights include:

• Leading a multigenerational workforce, a keynote presentation by author and workforce expert Tammy Erickson.
• A strategic perspective on cyber threats with General Keith Alexander, former Commander, U.S. Cyber Command, and Director, National Security Agency.
• Perspectives on the independent advice industry with Bernie Clark, executive vice president and head of Schwab Advisor Services.
• A moderated panel discussion about strategic growth strategies led by Schwab’s Rick Schwartz, senior business consultant, and featuring panelists John Furey, principal and founder, Advisor Growth Strategies, along with advisors Marty Bicknell of Mariner Holdings/Mariner Wealth Advisors and Nathan Kubik of Carnick & Kubik Group.
• Markets and investing outlook with Schwab’s Jeffrey Kleintop, chief global investment strategist, and Liz Ann Sonders, chief investment strategist.
• Regulatory and legislative landscape for advisors, led by Schwab’s Jeff Brown, senior vice president, office of legislative and regulatory affairs, and Christopher Gilkerson, senior vice president and general counsel.

“A goal of continuous improvement helps firms move to the next level,” said Beatty. “When you focus on growth, and truly understand and embrace efficiency, there is no limit to what you can do. It comes down to two things: the leadership of the firm and a relentless focus on growth.”

Schwab intends to host the ADVANTAGE conference annually, with current plans for an eastern location in 2018.

1 As of 3/1/17.
2 Schwab strategy estimates, individual company financial reports, FDIC, ICI, Federal Research Flow of Funds, Cerulli Associates and Discovery Database, 2013-2014.

About Schwab’s RIA Benchmarking Study

Schwab’s annual RIA Benchmarking Study is the largest of its kind focused exclusively on RIAs. In 2016, 1,128 firms representing nearly three-quarters of a trillion dollars in AUM completed the survey, reflecting their experiences in 2015 as well as their annual growth rates from 2010 to 2015. The study categorizes participants into 12 peer groups—seven wealth manager groups and five money manager groups—by AUM size. The results, unless otherwise noted, include all firms with at least $250 million in AUM, representing the vast majority of total assets managed by this year’s participants. All results are self-reported and not independently verified.

Detailed findings can be found at: https://www.aboutschwab.com/images/uploads/inline/RIA_Benchmarking_Study2016_Results_0716-2657.pdf

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.

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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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