Charles Schwab: SEC Data Shows Big Uptick In RIAs Last Year

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Charles Schwab: SEC Data Shows Big Uptick In RIAs Last Year
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Charles Schwab’s (SCHW) Schwab Advisor Services said
that based on an analysis of Securities and Exchange Commission registration data from last year, the number of registered investment advisors is seeing a strong uptick.
Based on the data, Schwab Advisor Services said new registrations at the SEC jumped 75% since 2012 to 199 new RIA firms in 2016.
“As increasing numbers of advisors choose this model, we are committed to providing the education, resources,
and ongoing partnership to help them make a successful and sustainable transition.”
The new study comes ahead of the company’s Schwab IMPACT annual confab in which it brings together independent advisors around the country.
“We believe passionately in the independent model and the value it delivers to advisors
and their clients,” said Jonathan Beatty, senior vice president and head of sales and relationship management at Charles Schwab in prepared remarks.
When E*Trade announced its third-quarter earnings last month it revealed it is spending $275 million in cash to acquire Trust Company of America which has more than 180 active registered independent advisors
and about $17 billion in institutional assets under custody.
What’s more, the San Francisco discount brokerage found RIAs created in 2016 accounted for close to $55 billion
in assets under management, underscoring the importance these independent financial advisors play.


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