Schwab’s new RIA Talent Advantage program is designed to help firms build a culture of inclusion and more effectively attract, promote and retain talent at their firms.
The program will focus on three aspects of advisor talent and investor segments: Generation Now (investors between the ages of 30-45), ethnic diversity and women.
The first phase of the program will focus on helping advisors better serve female investors by recruiting and retaining more female advisors.
“Our goal is to increase the number of women RIAs, which we believe will benefit advisors and investors alike,” said initiative co-leader Mary Rosai, senior vice president and head of marketing for Schwab Advisor Services.
A key aspect of the program is a new LinkedIn community, which is intended as a resource to help advisors and employees connect with peers to discuss, share and learn strategies for building a culture of inclusion in their firms.
The LinkedIn site will include guest posts from industry thought leaders, proprietary and third party research, moderated discussions and connections to educational programming, according to Schwab.
“RIA firm growth will be driven by assets that not only come from their existing client base, but increasingly from a more diverse population and advisors must be ready to meet the unique needs of these individuals and their families,” said Neesha Hathi, senior vice president, and co-leader of the diversity effort at Schwab. “With a focus on gender, culture and generational diversity, our program will help RIAs forge new ground and share best practices to serve the evolving investor profile.”