Charles Schwab's advisor services business has become a cornerstone of the firm's success, with nearly $10 trillion in assets split evenly between retail investors and Registered Investment Advisers (RIAs). Rick Wurster, Schwab's president and incoming CEO, highlighted the importance of RIAs to Schwab's growth, noting that they generate over half of the company's net new assets.

According to Barron's, this growth, measured by net new assets, is closely monitored by stock analysts as a key indicator of Schwab's performance.

Schwab's path to growth has not been without challenges. The 2020 acquisition of TD Ameritrade led to a substantial integration process, which caused some advisors and clients to leave.

According to Barron's, another significant shift for RIAs is the upcoming retirement of Schwab's white-label robo-advisor for its RIAs. This service will sunset in late 2025, replaced by iRebal®, Schwab's rebalancing software. This change will not impact Schwab's robo-advisor for retail investors.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.