Products June 17, 2010

Schwab Unveils Advisor University for RIAs

June 17, 2010 – Charles Schwab has launched Schwab Advisor University, an interactive online training program to help registered investment advisers (RIAs) improve operational productivity and performance.
Reported by

Located on Schwab Advisor Center, Schwab’s Web site for its RIA clients, the self-paced classes have been designed to train RIA operations and support staff how to efficiently conduct business with Schwab.

The site now includes 12 courses and reference materials, including a New Employee course series designed for first-time users of Schwab Advisor Center tools. The online curriculum covers the four categories of Schwab tools – New Accounts, Account Servicing, Move Money, and Trading & Research – and includes classes on:

For more stories like this, sign up for the PLANADVISERdash daily newsletter.

  • Client account opening
  • Online cashiering
  • Transfer of assets (TOA)
  • Monitoring client transaction status
  • Investment research
  • Back office processing for fixed income trading
  • Back office processing for equity and mutual fund web trading

Improvements in back-office staff productivity will be a benefit for the firms that use the tools highlighted in the classes, but Schwab Advisor University will also help advisers realize time and cost savings because of the efficiency inherent in online training, Schwab said in a news release

“Advisers tell us that maximizing productivity and efficiency to enable growth is one of their top business priorities,” said Julie Sunwoo, vice president of business consulting for Schwab Advisor Services, in the news release. “Schwab Advisor University is designed to provide a flexible and practical environment for staff to sharpen skills and improve performance in a range of operational areas so team members can spend more time serving clients and doing their part to help their firms grow.”

In Practice June 16, 2010

Advisers Say Financial Crisis Good for Practices

In light of the economic downturn, advisers have tightened the relationships with their clients, according to a new survey.
Reported by

In fact, two-thirds of advisers responding to the MetLife Lessons Learned Advisor Poll believe that the financial crisis has had a positive impact on their relationships with their clients and their practice, and 66% say they spend more time proactively contacting their clients to talk about their personal financial needs and goals. More than half (55%) say they spend more time talking to their clients in-person.

Although all types of adviser practices experienced a pick-up in client contact as the crisis unfolded, there were some differences among industry segments, MetLife reported. Independent broker/dealers report the greatest increase in calls/requests for advice from current clients (67% compared to 61% for independent wealth managers). As for new clients and prospects, independent wealth managers report the greatest increase in the number of new clients secured, with 62% reporting that they’ve seen an increase in new clients over the past 12 months. Half (50%) of wirehouse advisers and 43% of insurance agents say they’ve seen the same.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

When it came to products, increases in requests for guaranteed products increased among both wirehouse advisers (71%) and insurance agents (73%), compared to just 45% of independent wealth managers.

«