Entering Its Third Decade, Schwab’s Premier Advisory Solution Announces Plans for New Name That Reflects Comprehensive Wealth Management Capabilities

By: The Charles Schwab Corporation via Business Wire

June 16, 2022 at 11:30 AM EDT

Schwab Private Client to be renamed Schwab Wealth Advisory

Charles Schwab & Co., Inc., today announced plans to change the name of its premier advisory solution, which made its debut two decades ago. Next month, Schwab Private Client (SPC) will be renamed Schwab Wealth Advisory (SWA) to better reflect the depth of wealth advisory experience, dedicated service, and ongoing enhancements to investing solutions delivered to its more than 70,000 households representing approximately $146 billion in assets as of December 31, 2021.

Schwab Private Client was launched in the spring of 2002 to meet the needs of clients looking for holistic investment management. From its inception, the focus has been to provide investors with deep experience in investment management, dedicated service, and value. Over the past 20 years, Schwab has continued to enhance the breadth and depth of the offer to provide a comprehensive wealth management solution with a personalized approach delivered by an experienced team - all backed by a Satisfaction Guarantee¹ unique among competitive wealth advisory offers.

The average household in the newly named Schwab Wealth Advisory has over $2 million enrolled in the solution. “The success of this program is evidenced by the tremendous growth we’ve seen over time,” said Rick Wurster, President of The Charles Schwab Corporation. “We’re incredibly proud that these clients have entrusted us with their financial lives and are relying on us to put the wealth they’ve attained to work for their futures and their families.”

Unique in its support of clients who want to stay involved and in control of their portfolios, with support from a one-on-one relationship with an experienced wealth advisor, SWA offers:

A comprehensive wealth management strategy that encompasses key aspects and stages of a client’s financial life, from investment management to financial planning, retirement, education planning, and more.
A personalized wealth management approach based on a client’s preferences, needs, and goals, led by a dedicated wealth advisor who coordinates with the client’s local branch financial consultant along with access to specialists in income generation, options, insurance*, equity compensation*, and estate planning*.
- Invitations to exclusive events featuring nationally known, distinguished speakers from a wide variety of industries.

Wurster continued, “As we enter our third decade of supporting clients’ wealth management needs, clients can expect to continue to benefit from our strengths across a range of advisory and investing capabilities including asset management, financial planning, digital innovation, and more – all tailored to their unique needs.”

There is no change to client service, relationships, or cost associated with the name change from Schwab Private Client to Schwab Wealth Advisory. The annual fee for the program currently starts at 0.80% of billable assets, and the fee rate decreases at higher asset levels.

Schwab Advisor Network, the industry-leading referral network serving investors throughout the nation with referrals to independent Registered Investment Advisors, will continue to complement Schwab’s suite of advisory services. Also making its debut in 2002, Schwab Advisor Network today features 170 RIAs in the program who provide highly customized investment management, financial planning, insurance, tax strategies, and estate planning, depending on an investor’s specific needs.

In addition to the high touch service delivered by Schwab Wealth Advisory and Schwab Advisor Network, Schwab also offers managed investing solutions for investors who prefer a more automated or hybrid approach, in addition to a range of more specialized solutions. Schwab’s additional managed investing solutions include:

Schwab Intelligent Portfolios – Schwab’s automated investing service that builds, monitors, and automatically rebalances a portfolio of low-cost exchange traded funds and a cash component.
Schwab Intelligent Portfolios Premium - Schwab’s service that combines automated investing and professional guidance, including unlimited 1:1 guidance from a CERTIFIED FINANCIAL PLANNER™, interactive planning tools, and a personalized plan based on a client’s goals.
Schwab Managed Portfolios – A diversified portfolio of mutual funds or ETFs managed by Schwab Asset Management.
Managed Accounts - A suite of separately managed accounts of individual securities, such as stocks or bonds, managed by a professional asset management firm.
Schwab Personalized Indexing ™ - A separately managed account that offers a personalized indexing strategy of individual securities.
Wasmer Schroeder™ Strategies – Fixed income strategies across the duration, credit, and tax-efficiency spectrum; choices include both actively managed strategies and bond ladder strategies.
ThomasPartners® Strategies - Two approaches that strive to deliver a reliable source of income with the potential for growth to help clients get to and through retirement.
Windhaven® Strategies - Globally diversified strategies composed primarily of ETFs that strive to capture growth in rising markets while seeking to reduce exposure in declining markets.

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

*Certain services may be provided by affiliated professionals and third-party firms. Schwab Wealth Advisory does not provide specific individualized legal or tax advice. Please consult a qualified legal or tax advisor where such advice is necessary or appropriate.

If you are not completely satisfied for any reason, at your request Charles Schwab & Co., Inc. ("Schwab"), Charles Schwab Bank, SSB ("Schwab Bank"), or another Schwab affiliate, as applicable, will refund any eligible fee related to your concern. Refund requests must be received within 90 days of the date the fee was charged. Two kinds of "Fees" are eligible for this guarantee: (1) "Program Fees" for the Schwab Private Client ("SPC"), Schwab Managed Portfolios^™ ("SMP"), Schwab Intelligent Portfolios Premium^®("SIP Premium"), and Managed Account Connection^® ("Connection") investment advisory services sponsored by Schwab (together, the "Participating Services"); and (2) commissions and fees listed in the Charles Schwab Pricing Guide for Individual Investors or the Charles Schwab Bank Pricing Guide.

For more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. The Connection service includes only accounts managed by Charles Schwab Investment Management, Inc., an affiliate of Schwab. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Schwab or managed by Schwab-affiliated advisors outside of the SPC, SMP, SIP Premium, and Connection services.

The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses, and no market losses will be refunded. Other restrictions may apply. Schwab reserves the right to change or terminate the guarantee at any time.

Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.

Portfolio Management provided by Schwab Private Client Investment Advisory, Inc., a Registered Investment Advisor and affiliate of Charles Schwab & Co., Inc. (Schwab). Please read the Schwab Private Client and the Schwab Private Client Investment Advisory, Inc. Disclosure Brochures for information and disclosures about this service. The Private Client Advisor, Associate Private Client Advisor, and other representatives making investment recommendations in your Schwab Private Client accounts are employees of Schwab Private Client Investment Advisory, Inc.

Schwab Advisor Network ("SAN") advisors are independent and are not employees or agents of Charles Schwab & Co., Inc. ("Schwab"). Schwab prescreens advisors and checks their experience and credentials against criteria Schwab sets, such as years of experience managing investments, amount of assets managed, professional education, regulatory licensing and business relationship as a client of Schwab. Advisors pay fees to Schwab in connection with referrals. Schwab does not supervise advisors and does not prepare, verify or endorse information distributed by advisors. Investors must decide whether to hire an advisor and what authority to give the advisor. Investors, not Schwab, are responsible for monitoring and evaluating an advisor's service, performance and account transactions. Services may vary depending on which advisor an investor chooses.

Please read the Schwab Intelligent Portfolios Solutions™ disclosure brochures for important information, pricing, and disclosures related to the Schwab Intelligent Portfolios and Schwab Intelligent Portfolios Premium programs. Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium® are made available through Charles Schwab & Co. Inc. (“Schwab”), a dually registered investment advisor and broker dealer.

Portfolio management services are provided by Charles Schwab Investment Advisory, Inc. ("CSIA"). Schwab and CSIA are subsidiaries of The Charles Schwab Corporation.

Portfolio Management for Schwab Personalized Indexing is provided by Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a registered investment adviser and an affiliate of Charles Schwab & Co., Inc. ("Schwab"). Both Schwab Asset Management and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

There are risks associated with any investment approach, and each Schwab Personalized Indexing strategy and equity market segment has their own set of risks based on client strategy selection and further customization. Please refer to the Charles Schwab Investment Management, Inc. Disclosure Brochure for additional information.

ThomasPartners Strategies, Windhaven Strategies, and Wasmer Schroeder Strategies are available through Schwab's Managed Account Connection® program ("Connection"). Please read Schwab's disclosure brochure for important information and disclosures relating to Connection and Schwab Managed Account Services.

(0622-2UUE)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005692/en/

Contacts

Michael Cianfrocca

Charles Schwab

415-667-0344

michael.cianfrocca@schwab.com

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Entering Its Third Decade, Schwab’s Premier Advisory Solution Announces Plans for New Name That Reflects Comprehensive Wealth Management Capabilities

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