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Schwab Entices Advisors to Break Away

By Alex Padalka April 26, 2017

Schwab Advisor Services has launched a print and digital advertising campaign aimed at financial advisors considering going independent, the company says in a press release.

The ads that debuted this month tout Schwab as the optimal partner for advisors targeting high net worth clients.

In one ad, Stasia Washington of First Foundation Advisors calls Schwab's relationship with Schwab Charitable an “invaluable resource” for her clients, most of whom consider philanthropy a key ingredient of their financial plans, she’s quoted in the ad as saying.

Another ad features Kent Skornia, president and CEO of Krilogy Financial, saying his firm’s “strategic relationship with Schwab” played an important role in growing the practice from $19 million to $700 million in assets under management, according Schwab’s press release.

The campaign is a continuation of Schwab’s “My Independence Day” ad campaign which the firm started in 2014 and was also aimed at advisors. In conjunction with the current ads, Schwab is offering advisors mulling independence case studies and other resources including “thought leadership material,” the company says.

The current campaign runs parallel to a nationwide campaign launched last year touting independent advisors directly to high net worth investors, according to Schwab. That campaign also links prospects to a directory of local independent advisors and information on the indie advice model, the company says.

Earlier this month, a Schwab Advisor Services report cited greater autonomy, better product access, increased control, growth opportunities and marketing power and flexibility among the reasons for advisors to become independent RIAs.