Schwab Advisor Services

Schwab Advisor Services


Business head: Bernie Clark

No. clients: 7100

AUC: $1,136,500

In the News

Cybersecurity looms as adviser business threat

May 22, 2017 - U.S. officials have warned for many years that cybercrime is one of the greatest threats facing the nation, and now financial advisers have to face the reality that their businesses are also vulnerable to digital attacks. News headlines regularly carry...

Dynasty Financial Partners adds $750 million RIA

April 17, 2017 - Next Capital Management, a 13-person registered investment advisory firm in New York managing $750 million in assets, has joined Dynasty Financial Partners. The firm, which was founded in 1999, is led by Andrew Hart, who formerly oversaw a team at the...

RIAs zero in on golden goose of client prospecting: entrepreneurs

April 13, 2017 - When it comes to client prospecting, entrepreneurs are emerging as among the most sought-after niches, which might have something to do with the fact most financial advisers are themselves entrepreneurs. "Entrepreneurs may or may not be wealthier than...

Small custodians compete for advisers with niche needs

February 17, 2017 - When Tim Sobolewski started shopping for a custodian for his $100-million asset advisory firm, The Financial Planning Centerin Amherst, N.Y., he knew what he didn't want: an experience “that felt like I was calling into a cable company.” That was...

Client demand and technology driving move to comprehensive wealth management

December 6, 2016 - How registered investment advisory firms operate, the advice models they use, and the composition of their teams is undergoing vast change. That was the message delivered by Bernie Clark, executive vice president and head of Schwab Advisor Services, to...

Advisers uncertain about future but Schwab exec urges them to embrace change

October 26, 2016 - Over the past decade, independent advisers experienced rapid growth, but the ongoing uncertainty from markets to U.S. elections continues to concern them. That is one of the takeaways from Schwab's Independent Advisor Outlook study (IAOS) of 957 advisers...

Schwab CEO: Advisers face challenge of keeping fiduciary edge over brokers in post-DOL rule world

October 25, 2016 - As brokers start to resemble investment advisers in the wake of regulatory changes that raise certain standards of conduct, advisers must sharpen their brand, the head of the nation's largest custodian for advisers said Tuesday. “They're working hard...

How advisers can stay on the right side of the growth curve

October 24, 2016 - Client acquisition is soaring for independent advisers, but what do you need to do to stay ahead of the game? Jon Beatty, senior vice president at Schwab Advisor Services, says it comes down to enhancing your array of services.

Private-equity firms ramp up M&A in RIA industry, Charles Schwab report shows

September 13, 2016 - Private-equity firms are grabbing a larger portion of registered investment advisory firms up for sale. They made up 26% of buyers in the first half of this year, rising from 11% in the first six months of 2015 and on pace to have the biggest showing...

2016 custodians and clearing firms ranking

August 11, 2016 - Clearing Firms listed by number of broker-dealer clients Firm Website # of clients % change vs. 2015 Contact Phone Email Pershing LLC 743 -3.80% Michael Row (800) 445-4467 RBC Correspondent...

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Latest news & opinion

Advisers go on the offensive, getting clients ready for the next market correction

Some proactive planners are spelling out for clients the impact of a 10% or 20% correction.

Acosta declines to extend delay of DOL fiduciary rule

Labor Secretary finds no legal basis to delay implementation; rule to become applicable June 9

Phyllis Borzi says opponents of DOL fiduciary rule face uphill climb to further delay or dilute it

Former assistant Labor secretary who crafted the rule says President Trump won't be able to get rid of it simply because he doesn't like it.

Shrinking talent pool puts strain on advisory firms

Attrition, cuts in training programs and new competition make it difficult to fill job openings

Trump miscues, more cash becoming available will drive summer muni bond rally

As Trump agenda derails, municipal bonds are benefitting from flight to safety as well as a mismatch between bonds maturing and new issues.