Invested Together: Reflections on IMPACT 2024

To the casual observer, Schwab’s annual IMPACT conference might look more like a reunion of family and friends than a business meeting where more than 2,000 of Schwab's Registered Investment Advisor (RIA) clients join partner firms and Schwab employees to connect, learn, and inspire each other. In a business that is built on trust and strong relationships, IMPACT is our opportunity to bring the RIA industry together to discuss how we can collectively continue to make a meaningful difference in the lives of millions of investors.

In addition, IMPACT gives me the opportunity to meet with many of our existing and prospective clients. I found their perspectives on the industry and ideas on how to tackle the opportunities and challenges facing their firms and their clients to be valuable and insightful.

Invested...in the clients we serve.

The theme for this year’s conference was “Invested,” and I think that accurately captures why we were all gathered in San Francisco the week before Thanksgiving: because we are deeply invested in helping turn our clients' financial dreams into reality.   

In 2019, Chuck Schwab wrote a book that also happens to be called Invested. In it he writes, “To be a successful investor, you have to be optimistic.” That sentiment really resonates with me. I truly believe that each time we invest in something it is an intentional act of optimism – it is saying that if we do something today, there will be a future reward and payoff. And that optimism is what stands out to me most from the conversations I had with advisors at IMPACT. Of course, the RIAs I talked with are invested in growing their businesses. But more importantly, they are invested in relationships, in people, and in the wellbeing of the clients they serve. And that is why Schwab has been invested in independent advisors and the RIA industry for nearly four decades.

Invested...in the RIA industry.

In 1987, Chuck launched our independent advisor business. It was an investment that reflected his belief in the important role advisors play for individual investors as well as a recognition of our shared client-first mindset and common purpose. Under Walt Bettinger's leadership as Schwab CEO, we've demonstrated our commitment to supporting the RIA industry and helping advisors grow, compete, and succeed. We have done that through investments in technology, capabilities, unmatched consulting services, and an offer that combines the very best of what advisors love about Schwab and Ameritrade. We've invested in telling the RIA story through advertising and by leading with relationships so we better understand how to meet our RIA client needs. We've invested in the future of the profession with leadership and scholarship programs. Because of all this, I’m incredibly proud that we support more independent financial advisors – and the clients they serve – than any other firm. Our commitment to RIAs will continue well into the future after I step into my new role as CEO in the new year.

Independent advisors are incredibly important to Schwab’s business. But that’s not the only reason Schwab is invested in the future of the RIA profession or that I’m personally invested in our collective success. It is because of the real impact every advisor has in their clients' financial lives. As I look ahead, I’m doing so with incredible optimism for the opportunities we have in together helping millions more Americans achieve their dreams.