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
Schwab Advisor Services™, in partnership with the Charles Schwab Foundation, unveiled the RIA Talent Advantage Scholarship Program to remove barriers and open doors for the next generation of talent to engage in and pursue a career in the independent investment advisory profession. This program expands on Schwab’s longstanding University Grant Program, another partnership with Charles Schwab Foundation that, on behalf of advisors, aims to raise awareness of the RIA profession and establish a pipeline of top talent for firms to hire. Since launching the program, Schwab has now surpassed $10 million in grants to financial planning programs at universities across the country.
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“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”
“For young people, a career in the independent advisory profession offers so much opportunity for growth and success,” said Bernie Clark, executive vice president and head of Schwab Advisor Services. “It is essential that we attract a new generation of advisors to help carry the industry forward and meet the needs of increasingly diverse investors. We at Schwab, as well as our new colleagues from TD Ameritrade, have long championed this goal, and we are excited to come together to continue raising awareness of the RIA profession and actively supporting the development of next generation advisor talent.”
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The RIA Talent Advantage Scholarship Program comprises two scholarships:
- 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 Charles Schwab Foundation, have enabled universities to build or renovate state-of-the-art facilities and establish or develop financial planning curricula. Schwab’s University Grant Program has also provided opportunities for local independent investment advisors to engage with students through guest speaking opportunities and career networking.
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