Schwab
Intelligent Advisory™, Charles Schwab’s hybrid advisory service, has
been recognized by Celent as a winner of a 2018 Model Wealth Manager
award for client experience. Celent is a global research and advisory
firm for the financial services industry.
Celent’s award program recognizes financial institutions as ‘model
wealth managers’ for their outstanding technology initiatives. In order
to win, the initiatives must demonstrate clear business benefits,
innovation, and technology or implementation excellence.
Schwab Intelligent Advisory, which launched in March 2017, combines a
live CERTIFIED FINANCIAL PLANNER™ professional and advanced technology
to make financial and investment planning more accessible. The service
provides investors with a holistic digital financial plan tailored to
their situation and goals, unlimited guidance and expertise from
experienced Planning Consultants, and a fully automated and diversified
portfolio − all at a very low cost.
Schwab Intelligent Advisory is one of the most accessible and
lowest-cost advisory solutions available to investors today with a
$25,000 minimum, an annual advisory fee of 0.28% of assets, and a
quarterly maximum fee cap of $900.
“Schwab Intelligent Advisory makes it easy to create and maintain a
financial plan, and delivers on what today’s consumers expect – a
personalized user experience that rivals not only other financial
services experiences, but best-in-class consumer experiences anywhere,”
said Cynthia
Loh, Charles Schwab vice president of digital advice and innovation.
“Less than one quarter of Americans actually have a written financial
plan,* and we believe that making investing and planning accessible to
more Americans is something our industry needs to tackle head on. We’re
addressing this gap by modernizing the client experience to help
consumers turn their passions into plans they can engage with and
achieve.”
Loh noted that Schwab Intelligent Advisory clients have provided
positive feedback on their experience with the service – approximately
three-quarters say they are satisfied with the planning tool and more
than 90 percent say they are satisfied with their interaction with the
Planning Consultants.**
“The wealth management industry is evolving to meet the changing
expectations of more digitally-savvy clients, and services like Schwab
Intelligent Advisory are leading the way,” said Ashley Globerman, Wealth
Management Analyst at Celent. “The combination of live professionals and
technology not only enhances the client experience investors have with a
firm, but it also democratizes investing and wealth management for
emerging and mass affluent consumers who might not otherwise have
access.”
Client assets managed by Schwab’s digital advisory solutions which
include Schwab Intelligent Portfolios®, Institutional Intelligent
Portfolios®, and Schwab Intelligent Advisory™ totaled $30.6 billion as
of March 31, 2018, up 92% year-over-year.
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,
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and LinkedIn.
*2017 Schwab Modern Wealth Index survey
**Schwab client data
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.
Please read the Schwab Intelligent Advisory™ disclosure
brochures for important information about this program.
Schwab Intelligent Advisory™ is made available through Charles Schwab &
Co., Inc. ("Schwab"), a dually registered investment advisor and
broker-dealer. Portfolio management services for Schwab Intelligent
Portfolios® are provided by Charles Schwab Investment Advisory, Inc.
("CSIA"), a registered investment advisor. CSIA, and Schwab are
affiliates and are subsidiaries of The Charles Schwab Corporation.
Schwab Intelligent Advisory charges no commissions or account service
fees. Schwab affiliates do earn revenue from the underlying assets in
Schwab Intelligent Portfolios accounts. This revenue comes from managing
Schwab ETFs™ and providing services relating to certain third party ETFs
that can be selected for the portfolio, and from the cash feature on the
accounts. Revenue may also be received from the market centers where ETF
trade orders are routed for execution.
Institutional Intelligent Portfolios® (“IIP”) is a technology and
service platform made available by Schwab Performance Technologies
(“SPT”). Charles Schwab & Co., Inc. (“Schwab”) a registered
broker-dealer and member SIPC, provides custody, trading and support
services. SPT and Schwab are subsidiaries of the Charles Schwab
Corporation.
©2018 Charles Schwab & Co., Inc. All rights reserved. Member
SIPC
(0418-81XM)
