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Schwab Announces Its Interim Business Update

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By Business Wirevia The Motley Fool

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Schwab Announces Its Interim Business Update

SAN FRANCISCO–(BUSINESS WIRE)– The Charles Schwab Corporation announced today that it has scheduled an Interim Business Update for institutional investors on Thursday, April 25, 2013. This Update, which will be held via webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management’s strategic focus. The program is scheduled to run from 8:00 a.m. – 9:00 a.m. PT, 11:00 a.m. – 12:00 p.m. ET. Participants will include Walt Bettinger, President & Chief Executive Officer, and Joe Martinetto, Chief Financial Officer.

The Update will be accessible at schwabevents.com/corporation.

About Charles Schwab

The Charles Schwab Corporation (NYS: SCHW) is a leading provider of financial services, with more than 300 offices and 8.8 million client brokerage accounts, 1.6 million corporate retirement plan participants, 881,000 banking accounts, and $2.04 trillion in client assets as of February 28, 2013. Through its operating subsidiaries, the company 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 atwww.schwab.com and www.aboutschwab.com.

MEDIA:
Charles Schwab
Greg Gable, 415-667-0473
or
INVESTORS/ANALYSTS:
Charles Schwab
Rich Fowler, 415-667-1841

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

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From: http://www.dailyfinance.com/2013/04/11/schwab-announces-its-interim-business-update/

Business, Finance, Occupation & Industry

Client Retention is Not a Barrier When Going Independent, According to "Sophomore Year" Advisors Who

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By Business Wirevia The Motley Fool

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Client Retention is Not a Barrier When Going Independent, According to “Sophomore Year” Advisors Who Custody with Schwab

Schwab Advisor Service’s new RIA Economic Discovery Tool designed to help advisors make informed decisions before moving to independence

SAN FRANCISCO–(BUSINESS WIRE)– While retaining clients remains one of the top three most important areas of focus for advisors when making the move to the independent model, advisors who have been independent for less than two years say the majority of clients stick by their side once they make the switch, Schwab Advisor Services learned from a series of recent interviews1 with forty “sophomore year” independent registered investment advisors (RIAs) who custody with the firm. Not only do clients agree to transition with their advisors as they seek independence, but most are immediately on board when told about the change.

According to industry research2, the RIA industry has witnessed an eight percent annual growth rate, more than doubling industry assets under management, from $1.3 trillion to $2.8 trillion over the past 10 years.

“As one of the fastest growing segments of the financial services industry, it is clear that the appetite for independent advice is expanding as more and more advisors turn to the RIA space,” said Jon Beatty, senior vice president, sales and relationship management with Schwab Advisor Services. “With industry growth comes more choice for advisors as they seek out a path to independence. Schwab works one-on-one with advisors to determine which solution is best for them, evaluates the economics, and helps develop a transition plan tailored to their needs.”

In the interviews, most advisors noted “the ability to provide more personalized service to clients” as being a very or somewhat important aspect in the decision to become an RIA, followed by “the preference to work for yourself.” Also important was the need to “protect their personal reputations” by moving to the independent model.

Supporting Advisors in the Move To Independence

Schwab helps advisors explore options for independence as they determine whether it makes more sense to start a firm or join one. Schwab’s dedicated Advisor Transition Services team then collaborates with the advisor to develop a customized plan for their specific circumstances.

In its most recent effort to advance the understanding of the model’s benefits, Schwab launched a campaign ─“Don’t change your ways. Change your world.”─ for advisors …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Schwab and Texas Tech Celebrate Opening of Newly Remodeled Charles Schwab Personal Financial Plannin

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By Business Wirevia The Motley Fool

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Schwab and Texas Tech Celebrate Opening of Newly Remodeled Charles Schwab Personal Financial Planning Technology Complex

New Schwab Study Finds Next Generation Financial Professionals Drawn to Relationship Management Roles and Want to Create Careers on Their Own Terms

SAN FRANCISCO–(BUSINESS WIRE)– Charles Schwab and Texas Tech University celebrated the opening last week of thenewly renovated Charles Schwab Personal Financial Planning Technology Complex1 at a ribbon cutting event attended by university faculty, students and financial professionals currently studying at Texas Tech for CE credits. Over the past several years, Schwab has contributed millions of dollars in support to universities and has developed programs to help mentor, train and provide hands-on learning experiences for future financial services professionals.

Schwab’s Bernie Clark addresses the crowd at ribbon cutting event at Texas Tech. (Photo: Business Wire)

The Charles Schwab Personal Financial Planning Technology Complex at Texas Tech, originally constructed in 2009, is used today by more than 300 undergraduate and graduate students in the University’s Personal Financial Planning Department. It is an approximately 4,500 square foot facility that now includes two state-of-the art classrooms, a 16-unit technology lab, a high-tech conference room, and a recording room to produce high-quality distance education modules.

“Attracting young people to the RIA space is critical to the channel’s success going forward,” said Bernie Clark, head of Schwab Advisor Services. “We are honored to be working with Texas Tech and other universities to provide support for young people entering the business so that they can be strong champions for the independent advice model in the decades to come.”

In early February, Schwab conducted a study with students at Texas Tech to gain their perspective on the financial services industry.

Schwab Study Findings: Attracting and Retaining the Next Generation

Today’s developing financial advisors are gravitating to a career where they can interact daily with people and have a role in relationship management (69%), as well as do work that matters and help others achieve their goals (63%), according to a recent survey conducted by Schwab Advisor Services among more than 100 students studying Personal Financial Planning at Texas Tech University.

Additional study findings include: