Jalina Kerr, Head of Advisor Experience at Schwab Advisor Services, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss Schwab’s long-term commitment to supporting advisors and the complexities of today’s industry.
Over the last thirty years, the financial advisory industry has become increasingly complex. Today, advisors need to attract and retain talent while keeping up with advances in technology and artificial intelligence. Schwab works with over 16,000 advisors with a range of technology needs.
Schwab continues to invest in its technology platform, which is highly reviewed by advisors. Upgrades to the platform are informed by advisor feedback. Today, advisors want Schwab to use application programming interfaces (APIs) to directly connect to their systems, such as customer relationship management (CRM) or portfolio management systems.
Schwab has acquired Forge Global, adding a private markets platform that provides advisors and retail investors access to trading shares in privately held companies. Kerr notes that advisors are increasingly requesting access to model portfolios that integrate alternative and private market investments that consider the liquidity characteristics of these assets. Advisors are also seeking solutions for the operational complexities of private market assets.
Schwab’s Advisor ProDirect assists advisors in transitioning to independence or accelerating the growth of their existing practices. The service includes curated solutions to help advisors select technology solutions.