Speaking today in front of a crowd of nearly 5,000 attendees at Schwab’s
IMPACT® conference in Chicago, head of Advisor Services,
Bernie Clark said that “an increasingly important part of your future
role as advisors will be helping clients determine when to create
change… and when to see aspects of change they might not be
considering.” Clark evoked the healthcare industry, artificial
intelligence and evolving workforce dynamics to illustrate that advisors
must embrace a broader role in helping their clients navigate the forces
of change.
In his remarks from the main stage at the nation’s largest and longest
running conference for independent registered investment advisors, Clark
encouraged advisors to “understand more about which changes will matter
most to your clients” by asking “bigger questions” and expanding areas
of expertise.
“Go beyond financial planning and portfolio management,” said Clark.
“Expand your circle of influence to include new experts with different
specializations. Think about bringing on people who aren’t typical
financial hires and be ready to provide counsel and connect your clients
to the right resources.”
According to the results of the latest Schwab
Independent Advisor Outlook Study, also released today at IMPACT,
advisors are actively thinking about what skills they will need in their
businesses going forward. Eighty-two percent of advisors report that
they are seeking employees with “people skills” versus 18 percent who
are looking for employees who are “skilled with numbers.” Moreover, the
top three backgrounds considered valuable in candidates are
communications, sales and consulting.
Schwab celebrates 30 years of serving independent advisors
Schwab Advisor Services marks 30 years of formally serving independent
investment advisors this year. Today Schwab works with more than 7,500
independent advisors and has more than $1.4 trillion in assets under
custody.1
“A lot has happened in those 30 years. But despite tremendous change,
the core things that people care about will never change – family,
relationships, personal and professional fulfillment, health, and
security,” said Clark. “Another thing that doesn’t change: the value of
independent advice. Your model will continue to resonate. You are why
your clients will be able to successfully deal with change, put it to
work for them, and adapt to strategically build prosperous futures for
themselves and their families.”
About the Independent Advisor Outlook Study
The Independent Advisor Outlook Study is an online study
conducted for Charles Schwab by Koski Research.
Koski Research is neither affiliated with, nor employed by, Charles
Schwab & Co., Inc. The study was conducted from September 6 – September
17, 2017, and reflects the responses of 946 RIAs who custody their
firm’s assets with Schwab. Participation is voluntary. A detailed report
on the Study is available here.
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.
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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 As of October 20, 2017.
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.
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