More than 5,600 RIA employees participate in online courses to help
improve firm operations; new courses on regulatory topics, cost basis
and rebalancing in the works
SAN FRANCISCO--(BUSINESS WIRE)--
Charles Schwab is seeing impressive enrollment numbers for Schwab
Advisor University, the firm’s interactive online training program aimed
at helping registered investment advisory firms (RIAs) improve
operational productivity and performance. Participants from more than
2,500 RIA firms have enrolled in nearly 6,500 courses since the
University launched in June 2010. The online classes are designed to
train RIA operations and support staff to become more productive and
efficient by using Schwab’s numerous tools and resources. Charles Schwab
is a leading provider of custodial, operational and trading support for
more than 6,000 independent investment advisory firms.
“RIA firms are increasingly focused on maximizing profitability and
efficiency, and they recognize that their back office staff is crucial
in helping to make that a reality,” said Nick Georgis, vice president at
Schwab Advisor Services. “The strong level of adoption we have seen for
Schwab Advisor University speaks directly to RIA firms’ desire to
increase their team’s knowledge and productivity. We understand their
needs and we will continue to tailor a curriculum to help them meet
their needs.”
In a 2009 Schwab research study, 67 percent of advisors surveyed said it
would be useful to receive training on how to best use Schwab’s
technology tools available through Schwab’s web site for advisors,
Schwab Advisor Center. At launch, the course selection was developed
based on four major categories of online tools that are crucial for any
RIA firm: New Accounts, Account Servicing, Move Money, and Trading &
Research.
Schwab Advisor University’s online curriculum is now expanding to meet
the evolving needs of RIA firms, with new courses being introduced late
this summer on topics that are top of mind for advisor firms, including
product launches, cost basis legislation, and popular online tools like
rebalancing and position journaling.
“Schwab Advisor University courses are timely and based on advisors’
needs,” Georgis added. “Our business, and these courses in particular,
focus on where advisors need additional help and how we can assist them
in becoming more productive and efficient.”
The online curriculum is self-paced, allowing staff the flexibility to
plan classes around their schedules. Schwab Advisor University helps get
people up to speed quickly, and also helps them evaluate what they
learned and what they need to learn to build their proficiency. RIA
principals, owners and operations managers can oversee training and
coursework for their staff. They can provide structured training for new
employees and advance development by making course recommendations for
specific staff, as well as track progress and manage training.
“We added Schwab Advisor University to our employee on-boarding
process. A new employee is able to learn at her own pace,” said Cheryl
Holland, president of Abacus Planning Group, Inc. in Columbia, South
Carolina. “Now, experienced and new employees have an instant resource
for questions that inevitably arise when there’s a gap between
introduction of a resource and real life execution. This enables us to
be more efficient, execute at a higher quality level and empower more
employees for problem solving.”
Schwab Advisor University is part of a suite of tools, training and
educational services Schwab provides to help advisors maximize their
productivity. In addition, Schwab offers regional events and workshops
covering practice management topics important to RIAs such as managing
client profitability, recruiting new advisors and compensation
succession planning. Education on a broad range of technology solutions
and issues is available including the most recent Schwab Market
Knowledge Tools®: Integrating Technology Into Your
Practice, a whitepaper focusing on strategies for better integrating
third-party technology into RIA practices and a new series of articles
in the Practice Management Newsletter, focusing on how to get the most
out of your CRM.
About Charles Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of
financial services, with more than 300 offices and 8.1 million client
brokerage accounts, 1.44 million corporate retirement plan participants,
719,5000 banking accounts, and $1.65 trillion in client assets as of
March 31, 2010. 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; referrals to independent fee-based investment advisors;
and custodial, operational and trading support for independent,
fee-based investment advisors through its Advisor Services division. Its
banking subsidiary, Charles Schwab Bank (member FDIC and an Equal
Housing Lender), provides banking and mortgage services and products.
More information is available at www.schwab.com
and www.aboutschwab.com.
(0411-2638)
Schwab University courses are provided for educational informational
purposes only. Schwab does not provide specific financial, compliance,
regulatory or legal advice.
Follow us on Twitter: @Schwab4RIAs
Charles Schwab
Jennifer Davis, 415-667-0181
jennifer.davis@schwab.com
Source: The Charles Schwab Corporation
