Wondering how clients will react to you starting a firm? Hear one advisor talk about how open his clients were to working with him as an independent advisor, and what he told them to make them comfortable.
Implement your transition plan
To help you launch a successful firm, we’ve assembled the industry’s "best of the best" providers. No one else in the industry offers our depth and breadth of resources and support.
Schwab Business Start-Up Solutions
One of the most challenging and time-consuming aspects of starting any new business is researching, selecting and coordinating all the aspects of establishing your new practice and office. That’s why we created Schwab Business Start-Up Solutions and a suite of services comprised of expert resources for helping you launch your new firm.
We’ve brought together the industry’s best, combining resources available from Schwab and from third-party providers. And you will have the support of a Schwab Business Development Officer to assist you every step of the way.
Supporting the four key start-up areas
We’ve identified the following four major areas of need for advisors who are making the transition to the independent model:
Strategic planning. We will provide start-up planning and cost calculator tools to help you create your business plan and think through the strategic considerations of your move. We will work closely with you to help you define your business, financing and legal and compliance considerations. And your customized transition plan will contain what you need to consider as well as when and how.
Technology and client reporting. Good technology should reduce the cost and effort of managing your back office, while helping you achieve key business objectives. Schwab's PortfolioServices1 offers a turnkey, outsourced portfolio data management and performance reporting solution that lets you quickly see client assets wherever they are custodied. View consolidated data, prepare client reports and assess performance data at the account or firm level. You'll also receive the ongoing support of industry professionals for all your back-office administrative needs.
Business setup Regardless of your business size, we have relationships with firms that can help you create a workplace that will welcome clients and motivate employees. Whether it’s finding and furnishing an office space, establishing healthcare, retirement and other benefits, attracting and keeping top talent, getting the right business insurance, or getting the essentials for your office such as computers and copiers, we'll help coordinate putting the pieces into place.2
Marketing. From the day you open your doors for business, you’ll need a sound marketing strategy that broadcasts the value of your services to your target audience. We can help coordinate getting what you’ll need for public relations support and customized marketing communications, including stationery, collateral and resources to help you establish an online presence. 2
1 PortfolioServices™ is a product of Schwab Performance Technologies (SPT). Schwab Performance Technologies® is a subsidiary of The Charles Schwab Corporation.
2 Some of the above services are provided by third-party firms who are not affiliated with Schwab. Plan availability varies by region. Receipt of these services at a preferred rate may need to be disclosed on your Form ADV. Please consult with your own legal/compliance counsel regarding your obligations to your clients. Charles Schwab does not provide legal, compliance or tax advice to its clients.
Go independent planning tool
Map out the steps you’ll take in the months prior to launching your new independent advisory firm. Use our tool to identify some of the key tasks.
Going independent: Answering the technology question
Learn about the key technology considerations to evaluate prior to going independent as an RIA (Registered Investment Advisor), including assessing your technology needs, how your custodian can help you build the technology that meets your clients needs, and how Schwab can serve as a strategic partner. View the webcast
“The people at Schwab have been with us during every step in this process and have provided the kind of support that has been invaluable.”
— Harrison Grodnick, Minneapolis Portfolio Management Group, LLC
