Despite the need to reassure some clients because of the recent ups and downs of the market, this is a great time to be a financial advisor, according to a study by Schwab Advisor Services released Thursday at Schwab’s annual IMPACT conference in Boston.

Independent registered investment advisors are optimistic about the market and about their firms’ growth in the coming year, according to the Independent Advisor Outlook Study.

Half of the 638 RIAs surveyed expect their firms to grow between 5 percent and 10 percent in the coming year, while another 32 percent anticipate growth between 11 percent and 20 percent; 15 percent project growth rates of more than 20 percent.

“Advisor optimism around RIA firm growth continues unabated, and with their clients needing the lowest levels of reassurance since 2007, even in the face of intense market and geopolitical volatility, it’s evident that advisors continue to act as trusted partners,” says Bernie Clark, executive vice president and head of Schwab Advisor Services.

“The RIA industry continues to grow at an incredible rate and the future opportunities are significant, including $23 trillion in assets outside the independent channel in households with $500,000 or more in investible assets,” Clark adds.

Sixty-seven percent of advisors predict the S&P 500 will increase in the next six months, although almost all (97 percent) agree there will be continued market volatility. Most advisors (92 percent) say they had to reassure at least a few clients during the last six months that their investment goals will still be met, Schwab says.

In the future, the majority of advisors (68 percent) see technology adoption as central to their operational strategy, allowing them to spend more time with clients and achieve firm growth.

The future also holds challenges for advisory firms, according to the advisors. Forty-one percent of advisors rank a more complex compliance environment, 39 percent say technology integration and 37 percent say establishing internal processes and balancing client services needs with business operational needs will have to be tackled.

“This is a growing, maturing industry so the changes and challenges advisors face are good ones to have,” says Clark. “Awareness of the underlying opportunities is also key, as is responding strategically and proactively. Doing so can enable RIA firms to continue to thrive and forge new best practices as the industry and their firms become increasingly sophisticated.”