The program is part of Schwab’s business consulting services, a practice management offering for advisors. In this advisors will be guided through an eight-week program, developing, evaluating and preparing to implement customized segmentation strategies for their firms.
Schwab’s new Client Profitability Modeling Tool2 helps to determine client-level profitability and provides advisors with visibility into their firm’s economics and revenue mix.
Schwab Advisor Services vice president Nick Georgis said core to the consultative philosophy, the program pairs advisors with a Schwab relationship manager and immerses them in work sessions both in-person and online over a series of weeks, providing resources and counsel along the way to enable each firm to build an effective, customized segmentation strategy and plan to serve their clients.
Schwab Advisor Services managing director of business consulting Scott Slater said throughout the consulting process, Schwab relationship managers support principals while they develop the best segmentation strategy specific to their firm’s clientele and business goals.
The program has been rolled out to a target group of RIAs in Chicago, St Louis, Minneapolis, Dallas, Newport Beach and Seattle and will include several other regions across the US throughout the course of the year.
