Schwab Launches Virtual Practice Management Program For Advisors.

Read More

Schwab Launches Virtual Practice Management Program For Advisors

(Photo: Christopher Dilts/Bloomberg)

Schwab Advisor Services has launched Virtual Practice Management, which provides on-demand content and programs for independent advisors who custody with Schwab and need additional resources to help run their business.

The suite of virtually guided learning experiences is “an important part” part of the firm’s recent pledge to provide “in-depth practice management consulting and insights for every firm” on its platform, said Lisa Salvi, vice president of business consulting and education at Schwab Advisor Services, in a statement. The pledge was made several weeks after Schwab announced it was buying TD Ameritrade, which worried some of that firm’s smaller RIA clients.

Show Full Article

Register Now!

Are you looking for VA's? Want to hire a Virtual Assistant? You're just one step away. Our system will help you get the right Assistant for your Business. It's easy and relaible way of getting connected with an Assistant. Register Now.
- or -
Are you an Assistant? Want to offer your service virtually? Register as a Company and get connected to clients.

The Virtual List process is Simple! Want to know how?
Simply register and post your task sample as requirement on Request Quote tab, when you are looking to hire a Virtual Assistant Company.
And, when you are offering your VA services. Register and Send Quotes on the submitted request. It is just that simple. Prospects will review your proposal and get in touch directly.
Disclaimer: We do not charge any type of commission or fees for the service.
Our service is Free.

The new VPM tool is currently available only to Schwab custody clients. It was created in response to some of the struggles Salvi heard about from the advisors themselves, Salvi told ThinkAdvisor. 

One story that stuck with her: An advisor she met at a cybersecurity presentation whose firm had about $50 million in assets under management recalling a late-night struggle to figure out a particular program. 

Such smaller advisory firms need assistance but may find it difficult to take time away from their business to attend consulting workshops for advisors, Salvi said. Now they can use VPM or connect remotely with a senior business consultant.

“Firms of all kinds need support to enable their success, and it’s a critical part of our role as custodian to offer help and guidance in the ways we are uniquely suited to deliver,” said Tom Bradley, senior vice president at Schwab Advisor Services, in a statement. 

The first VPM programs are courses on the ideal client persona and on the client value proposition — both designed to help RIAs differentiate establish tangible steps to attract their ideal clients. Schwab’s 2018 RIA Benchmarking Study found that firms who could document both the ideal client and client value proposition attracted 26% more clients and 41% more new assets than firms without those frameworks.

Later this year, three cyber security courses — based on the NIST Cybersecurity Framework — will be added to the Schwab VPM along with a course on strategic planning, followed by more courses in the future, Salvi said.

— Related on ThinkAdvisor:

Thank you for your valuable time considering as your Virtual Assistant Community Forum. The team has curated more valuable news on "Schwab Launches Virtual Practice Management Program For Advisors". Are you excited and wanna learn more! Excellent here are more articles on Virtual Assistant Services For Financial Advisors.


News and Articles on Virtual Assistants.