Schwab spells out the details of its franchise plan
The San Francisco broker is making five-year deals with dozens of financial advisors from across advisory channels
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Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh
United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran
Schwab RIA candidate
So explain to me as a prospective RIA, why should I have any discussions with a custodian whose growth strategy includes direct competition with my business? Let’s cut the spin – why would I hire Schwab as my custodian if the office down the street is actively pursuing my market with a big Schwab name on the building?
Jeff Spears
Sounds like Edward D Jones meets Charles Schwab. The firm that should be concerned about this strategy is LPL not Schwab RIAs.
Frederick Van Den Abbeel
I wonder how the employees working in Schwab’s retail branches feel about this initiative? Could a “not as good performing” employee branch be converted to a franchise operation?
Edith W.
Although they said they didn’t want to use internal Schwab employees initially, why wouldn’t Schwab want to groom and train its best producers to open a Schwab franchise?
Gary Miller
I’m phoning TD Ameritrade for their joint marketing material right now. Schwab has done nothing for me for 9 years, they even charge to go to their annual event. With 20% of our assets away, why not invite clients to move even more?
