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Head Of Schwab Advisor Services Bernie Clark At The Opening Night Of IMPACT 2012 In Chicago, IL. (Photo: Business Wire)

Stocks in this article: SCHW

In a compelling keynote address today from the main stage at IMPACT 2012 – one of the nation’s largest and longest-running annual gatherings of independent registered investment advisors (RIAs) – Bernie Clark, executive vice president of Charles Schwab & Co., Inc., and head of Schwab Advisor Services, emphasized the importance of cultivating the next generation of RIA leadership and outlined Schwab’s bold agenda to launch a series of forward-looking, advocacy-based initiatives in 2013 and beyond.

Head of Schwab Advisor Services Bernie Clark at the opening night of IMPACT 2012 in Chicago, IL. (Ph ...

Head of Schwab Advisor Services Bernie Clark at the opening night of IMPACT 2012 in Chicago, IL. (Photo: Business Wire)

Clark noted in his speech that the RIA industry was built by advisors willing to break with tradition in order to forge a new and better way to serve clients. It is that “explorer spirit,” according to Clark, that is required once again to propel the industry forward as traditional Wall Street firms and other competitors have taken steps to operate more like RIAs.

Schwab Advisor Services, a leading provider of custodial, operational and trading support for RIA firms, is planning a series of initiatives, beginning in 2013, aimed at providing support and advocacy for RIAs at a crucial time for the industry. The most critical needs, according to Schwab, are to prepare the next generation of RIAs for leadership, attract the best and the brightest to the profession, and broaden the universe of clients who recognize and understand the RIA difference.

“As a community, if we’re going to continue succeeding, we need a broad-based commitment to reach new clients and bring new people up through the ranks and into the business,” said Clark. “We must prepare the RIA community for the future, and to meet that challenge Schwab is taking important and demonstrable steps in three critical areas – internal succession, sourcing new talent, and investor education.”

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