August 07, 2012
--- Schwab Advisor Services scheduled ‘Insight to Action’ training classes that focus on strategic planning, client profitability, transitioning the team and technology. ---
Schwab developed the curriculum from findings in its 2012
RIA Benchmarking Study, and will hold classes through the end of the year
throughout the U.S., including Boston; Philadelphia; Tysons Corner, Virginia;
Cincinnati; Cleveland; Pittsburgh; Fort Lauderdale, Florida; Denver; and
Newport Beach, California.
“Rapid firm growth and increasing competition have made
running an RIA [registered investment advisory] more complex,” said Nick
Georgis, vice president with Schwab Advisor Services. “We recognize that
advisers need in-depth help to address their critical business issues. Through
the ‘Insight to Action’ program, Schwab business consultants and relationship
managers work together with advisers to address business challenges and drive
toward actionable solutions tailored to their unique needs.”
In fact, the Schwab survey found that the best-managed firms’ revenue growth
rate is double their competitors—and that the best-managed firms’ revenue per
professional is nearly 50% higher.
The three classes and one workshop are as follows:
Mastering Strategic Planning– Schwab’s RIA Benchmarking Study found
that the best-managed firms place a high priority on strategic planning. This
program empowers RIAs with a written strategic plan to help them expand their
firm into the future.
Managing Client Profitability – This
curriculum helps RIAs determine the cost of serving clients and create a
dashboard that guides resource allocation, evaluates pricing models and helps
RIAs efficiently and productively serve their clients while maintaining a
“high-touch service model.”
Transitioning Teams – This class
teaches advisers how to create and implement a succession plan. Advisers learn
valuation measures, deal structure and the drivers of value for an RIA firm.
Technology Challenges – This
interactive workshop, filled with exercises, is aimed at helping RIAs leverage
technology and offers an overview of Schwab’s solutions offered through the
Schwab Intelligent Technologies.
Schwab business consultants conduct the classes, which average three months in
duration and which are held before working hours at convenient locations,
including onsite RIA office visits. This is the second year that Schwab has offered the "Insight to Action" curriculum. To date, 600 advisers have participated in the program.
Advisers interested in the “Insight to Action” classes can contact their Schwab
relationship manager or a Schwab business development officer.