At a press conference during the first day of
, executives from
Charles Schwab & Co., Inc. (Schwab) shared details on a major initiative designed to transform the way Schwab serves independent advisors and advisors’ clients. Schwab is seeking to enhance its already industry-leading service model through a significant, multi-year investment intended to help independent advisors serve their clients even more effectively in a new era of technology, increasing client expectations, and external forces like regulation.
Naureen Hassan, senior vice president of client experience for Schwab Advisor Services (Photo: Business Wire)
“Advisors are facing a number of competing forces when it comes to meeting clients’ needs and expectations. The world is getting more complex in terms of regulations and concerns about security and fraud, but at the same time clients want anytime, anywhere attention and access,” said
, senior vice present of client experience for Schwab Advisor Services. “We have seized this opportunity to take a fresh look at how we serve advisors and their clients and to look for ways to make processes simpler and more efficient.
According to Hassan, Schwab is focusing on several key areas of client experience, including eliminating the use of paper whenever possible; streamlining processes and reducing the number of steps required to complete key custody activities; optimizing technologies like mobile and cloud computing; and empowering Schwab’s teams to provide an even higher level of client service.
“As part of this project, we are investing millions of dollars on advanced operations and servicing technology platforms so that our staff can raise the bar on the already industry-leading service they provide,” said Hassan. “These investments will help automate many of the processes that our front line teams use every day and allow us to customize our workflows specifically for advisors and their needs. The results will be faster and more proactive service.”