Discover the benefits of working with us
Why move your business to Schwab? The answer is simple: Adopting the RIA model with Schwab is the clearest path to gaining more control over your practice.
We use a proven approach to helping you make the transition to Schwab, complete with customized strategy, planning and end-to-end coordination of the process. We can even help you manage all aspects of launching a new firm with Schwab Business Start-Up Solutions, which offers best-in-class tools and services.
Why advisors like you choose to work with us
How many times have you wished you could do things differently for your clients or receive a greater reward for the services you provide? As an independent registered investment advisor (RIA) working with Schwab, you can:
- Have control over products and solutions for your clients, and have the advantage of Schwab's leading platform:
- State-of-the-art technology solutions for trading, billing, performance and client reporting
- Comprehensive research tools and resources
- Access to a wide range of investment products such as managed accounts and alternative investments
- An integrated platform for managing both fee and commission-based business
- Make your own decisions with regard to client service, including pricing, portfolio management, client relationship practices and compliance
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- Control your economics:
- Receive 100% of the revenue you generate and have total control over managing expenses, to gain greater control of the net revenue you earn. You have the opportunity to no longer be captive to “payout” structures or how various products align with “the grid.” *
Build non-taxable equity in your firm, creating a valuable asset as you near retirement.
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*Schwab does not play a role or share in your revenue; our focus is providing you the platform you need to be successful.
- Get full support for your day-to-day operations:
- Expert guidance in specific areas of practice management and back-office support, provided by consultants specializing in business operations, technology and more.
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Access to the people you need, including a dedicated service team with an average tenure of 7.5 years, and subject matter experts for solving complex issues.
- Stay on top of legal and compliance considerations through access to experts and compliance-related solutions from third parties.²
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1 2005–2007—Schwab Account Conversion Services Report (12/31/07)
2 Schwab does not provide legal or compliance advice.
Find out what it means to be an RIA
What exactly is an independent financial advisor? More formally known as registered investment advisors, or RIAs, independent advisors offer advice for a fee and provide financial products from across the entire market. In addition, RIAs:
- May charge a management fee based on a percentage of a client’s total portfolio (the range is typically 80–150 basis points per year)
- Independently register with the Securities and Exchange Commission (SEC) or their state securities regulator (as applicable) and are regulated by the Investment Advisors Act of 1940, which means they have a fiduciary duty to act in the best interest of their clients
- Use a custodian such as Schwab to hold their clients’ assets, execute and settle trades, and provide other products, services and expertise. Or they may use a broker-dealer, bank or other custodial resource instead
Case study: David Bromelkamp
Learn how Schwab connected one advisor to a partner for operations support.
In 2005 when David Bromelkamp concluded that the best way to help clients was to build his own firm, he turned to Schwab and the support of Jack Barber, a Business Development Officer with 13 years of experience working at Schwab.
The process began with a conversation. According to David, “Jack Barber started our first meeting by asking me to tell the whole story about why I needed to establish an independent investment advisory firm. He wanted to understand what I wanted to accomplish before making any specific recommendations. The best question he asked—What was our core competency?—helped focus me on the unique strengths and skills that became the foundation of our firm.”
Once they defined the services the new firm would offer, David and Jack worked together to determine which tasks the new firm would handle in-house, and which areas needed support from outside resources. David’s biggest concern was running the daily operations of the firm, but, “Jack helped me realize that I didn’t have to do it all: I could either hire or outsource the help that I needed, to allow me to stay focused on my core goals of attracting and retaining investment advisory clients.”
The next step was connecting David to the right outside resources. According to Jack, “Today, the outside resources available to advisors are numerous. It was my job to understand David’s goals and then introduce him to the people and organizations that could match his needs. So I brought in experts from Schwab to evaluate and narrow down a list of potential partners for David.” David chose one of the operations partners Jack recommended and has built a strong partnership with them that continues today.
According to David, working closely with Jack made all the difference: “One of the best decisions Jack helped me make was hiring a professional manager and a partner to run the operations of the firm. If Jack hadn’t introduced me to those resources, I think it would have been a rude awakening to be running my own business. With their support, I can focus on client service and business development, and I’m very happy with my decision.”
The mention of the above firm is not and should not be construed as a recommendation, endorsement or sponsorship by Schwab. This firm is not affiliated with or an employee of Schwab. You must decide whether to hire any firm and the appropriateness of their services for you or your firm. Schwab does not supervise third party firms and takes no responsibility to monitor the services they provide to you.
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