Schwab Advisor Services Surpasses $10 Million in Grants to Support and Develop the Next Generation of RIA Talent
New scholarship program aims to open doors for new and diverse talent to enter the independent investment advisory profession
“For young people, a career in the independent advisory profession offers so much opportunity for growth and success,” said
The RIA Talent Advantage Scholarship Program comprises two scholarships:
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Student Scholarship: Twelve students will be selected annually to each receive
$5,000 . Half of the scholarships will be reserved for underrepresented groups. The winners will also be invited to attend Schwab IMPACT®, the largest and longest-running annual gathering of independent advisors in the nation. - IMPACT Scholarship: Each year, 80 students will have the associated expenses covered so they can travel to attend Schwab IMPACT as part of an extended learning experience.
For years, Schwab has worked to raise awareness of the RIA profession by bringing the conversation to college campuses. Grants funded by Advisor Services, in partnership with
“Through our annual RIA Benchmarking Study and consulting work with firms, we know that people are a firm’s most important asset, and building a talent pipeline is a critical component of a firm’s long-term success. Working closely with universities and students allows us to not only raise awareness of the RIA profession as a compelling career choice, but also to make connections among RIA firm leaders and the students who could be their next hires,” said
In addition to the Scholarship Program and University Grant Program, Schwab Advisor Services also offers an eight-week rotational RIA Summer Internship Program to prepare undergraduate students for employment at independent investment advisory firms.
STUDENTS AT IMPACT 2020
More than 120 students from 25 different universities, including historically Black colleges and universities (HBCUs) and Hispanic-serving institutions (HSIs), participated in the virtual Schwab IMPACT conference, which concludes this week. In the past thirteen years, Schwab has hosted close to 1,000 undergraduate students at the conference as part of its commitment to helping independent advisors attract and develop top emerging talent.
In addition to joining keynotes and education sessions, students at IMPACT have opportunities to network with peers and advisors. Highlights of this year’s IMPACT student program include:
- Virtual Mentoring: Close to 100 advisors volunteered their time to host 1:1 virtual mentoring sessions with students.
- Virtual Career Fair: Students met with representatives from independent investment advisory firms to learn about the industry and to discuss potential internship and job opportunities.
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Young Advisor Panel : In a candid session, advisors who have worked in the profession for fewer than five years will share their experiences at independent investment advisory firms, offer career advice, and answer students’ questions. The discussion is designed to allow students to speak openly with their peers and envision what their careers could look like in a few years’ time.
“We were able to host a record number of students during this year’s virtual IMPACT conference. We are inspired by their enthusiasm and pleased that they were able to make connections and learn about this great profession despite the unique circumstances of this academic year,” said Salvi. “It is so important for students to have the opportunity to hear directly from advisors about the unique benefits of the independent model, and we encourage advisors to work with local schools and organizations to continue to share their stories.”
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About
Disclosures
Through its operating subsidiaries,
Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support of Schwab.
Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. For informational purposes only.
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Schwab Corporate Public Relations
646-343-7419
meredith.richard@schwab.com
631-745-3559
tfishstein@neibartgroup.com
Source:
Meredith Richard
Schwab Corporate Public Relations
646-343-7419
meredith.richard@schwab.com
Travis Fishstein
The Neibart Group
631-745-3559
tfishstein@neibartgroup.com
