Advisors ‘Can Become Outdated Instantly,’ Schwab’s Clark Warns | ThinkAdvisor by James J. Green


The latest Schwab Independent Advisor Outlook Study (IAOS) found RIAs reporting growth in new clients, compensation and wallet share since the bull market began.

A whopping 93% of the 629 RIAs surveyed believe the industry is on a “continued growth trajectory,” while 53% said the industry will continue to grow at a faster rate than the market. Respondents reported high employee retention rates, hiring plans and technology investments to maintain their growth, with their top talent acquisition priority being adding staff in operational and support roles.

While other studies found that only a minority of advisors have a formal succession plan, 30% of IAOS respondents reported that they offer equity ownership opportunities to their staff, and nearly half (49%) said they have a documented path to ownership.


Back to listing