Schwab Wealth Advisory: Wealth Advisor Career Opportunities.

By: Beau Hombach, Sr Content Manager

Schwab Wealth Advisory™ (SWA) is the latest evolution of a more than 20-year commitment to innovative wealth solutions and exceptional client service. Formerly known as Schwab Private Client™, SWA’s expanded focus on comprehensive wealth management underscores a deep dedication to putting clients first and delivering world-class, “white glove” service to high-net-worth investors.  

Our SWA has more than 600 team members with wealth experience, and 95% of our Wealth Advisors hold a professional designation in their area of expertise (as of September 2021). Clients enrolled in the SWA can expect a dedicated Wealth Advisor (backed by an experienced support team) who personalizes a financial planning and wealth management strategy based on the client’s goals and key aspects of their financial lives. 

If you’re a financial professional eager to grow, SWA opens exciting pathways for you to make a meaningful impact on clients’ lives - and on your own career trajectory.   

View current SWA opportunities

In this article, we sit down with Jennifer R., a Managing Director in SWA and long-time “Schwabbie,” who shares an insider’s perspective on SWA’s history and the career opportunities available to those ready to take the next step. Keep reading to explore how SWA’s client-centric approach and supportive culture can help you thrive as a Schwab Wealth Advisor.  

How has SWA evolved over the years?

Jennifer: I’ve been at Schwab for 30 years, and back in 1995, we did not give any stock advice. However, as markets experienced certain events which created an elevated level of volatility (anyone remember the 2000 tech bubble?), our Schwab clients were asking us for investment guidance and help.  One thing that remains true to our company, no matter how long we’ve been serving the investment community, is our commitment in evolving our products and offers as client needs dictate. Because of this commitment, Schwab started providing investment advice and guidance, which has evolved and grown over the course of 20 years.  

Initially, our guidance was situational and broad. We would do asset allocation models and recommend mutual funds from our select list. Eventually, we graduated to providing recommendations for certain stocks.  I was very privileged to be one of the first financial consultants to give investment advice on behalf of the firm. 

Once we were comfortable within the guidance space, we established Schwab Private Client™, which mainly dealt with portfolio customization. This early iteration of our advisory service laid the groundwork for today’s full, holistic wealth management offering. Nowadays, we don’t just build asset allocations with stocks and a couple of ETFs—we consider a client’s full financial situation, including children and next-generation wealth investing goals. The entire effort is designed to meet our high-net-worth clients’ needs and provide efficient, trustworthy service.  

Why should financial professionals consider joining SWA?

Jennifer: We’ve made significant investments in our wealth advisory offering in recent years.

In fact, I just met with an employee who praised the differences in what we offer today compared to before. Our refined approach, including a specific cap on clients per advisor, has created a greater work-life balance for employees. This balance allows them to add more value to their clients and develop a deeper understanding of their clients’ financial goals.

I’d also say that the investments we’ve made in technology are a game-changer. Our advisors now have the tools to provide clients with full-service wealth building and management. In many ways, I believe we’re ahead of the competition when it comes to the technology we have at our disposal. 

How have employees contributed to the growth of SWA?

Jennifer: We’re a feedback-centric business because we want clients to be engaged and see the value in our offering. The same is true for our employees—our people are the reason we are successful, so we’re always asking for input. 

One big piece of feedback we received was the need for a more structured training program to help prepare new talent to take on clients. At Schwab, we’re all about investing in our employees’ professional development, so we worked diligently to implement a better onboarding process. We also refocused on career pathing because we want our employees to continue to upskill and grow and feel that they’re personally and professionally growing along with our wealth management offer.  

What does career growth look like within SWA?

Jennifer:

When I came over to lead the Phoenix team, I focused on scaling our services and creating a centralized support team. Now, there are multiple teams across the network that handle inbound transactional/service calls from SWA clients. This structure not only allows our Wealth Advisors and Senior Associate Wealth Advisors to focus on key client needs like planning and complex wealth management needs, but it also creates more pathways for new employees. 

Entry-level service associates start by learning how to deliver world-class, white-glove service to our clients. As they grow, they develop the skills needed to advance into a Wealth Advisor role.  

What kind of tools, resources, and training does SWA offer to support career growth?

Jennifer: We offer a variety of learning opportunities across our network. One great example is our Employee Resource Groups (ERGs), which are open to all employees. I’m involved in the Military Veterans Network here in Phoenix, and I used to be a co-chair for the Women’s Interactive Network as well. I encourage all employees to join an ERG that resonates with them because these groups provide great networking opportunities and the chance to learn more about the business. ERGs also help employees explore new career paths and connect with others in their areas of interest. 

From a training perspective, Schwab’s Wealth Management University (WMU) is a valuable resource that offers employees education on wealth management essentials, relationship-building with clients, planning and advice fundamentals, and more.  

One core belief of SWA is that we have advisors that are CFP or CFA certified.  Holding one of these designations and the knowledge it provides is key in delivering financial planning and wealth management guidance to our high net worth clients. We encourage these designations and offer robust training and support for employees who want to embark on their CFP or CFA journey. 

How has your career journey shaped your perspective on SWA’s opportunities?

Jennifer: Before Schwab, I had two stints under my belt at full commission firms. My experience at those firms and how they approached the client relationship did not align with my internal moral compass. Thinking that all financial services firms were the same, I started updating my resume with a focus on a career outside the industry (television news production). Call it a divine intervention, but a Schwab client convinced me to give Schwab a shot. I was hired in 1995 and suffice it to say, never again re-visited leaving the industry. I had found a “home” that aligned their business model with doing what’s right with the individual investor and I couldn’t be happier. I have often presented at leader panels representing Schwab and I always say I choose to stay at this company. The word “choice” is usually intentional and I want my audience to understand how intentional my choice is to stay at this company and the reasons why. I was given access to leaders and mentors who believed in me and provided constructive feedback that helped me grow as a leader, manager, employee, and person.  

That level of support allowed me to move from a customer service position to branch leader, and eventually into my current role as Managing Director in SWA. I truly believe the positive and humble culture at Schwab is what has kept me here. We all share a strong commitment to service—toward our clients, our peers, and our team. It’s just who we are.  

 

Bringing it all together

As Jennifer’s story shows, Schwab Wealth Advisory’s evolution into a holistic wealth management offering has created strong career opportunities for financial professionals. Here, our supportive culture and focus on development gives Wealth Advisors these key benefits:

• Professional development: You’ll have access to structured training, mentorship, and resources like Schwab’s Wealth Management University to continuously upskill and grow as an advisor.

• Meaningful client impact: With dedicated support teams, you can focus on holistic planning and proactive client engagement, giving you the ability to truly understand each client’s goals and help make a difference in their financial future.

• Better work-life balance: By capping the number of clients per advisor, SWA ensures you have the time to provide high-quality service and enjoy life outside of work – proof that you don’t have to sacrifice personal wellbeing to have a successful career.

 

SWA offers the best of all worlds: a chance to advance professionally, build deep client relationships, and maintain a healthy work-life balance. It’s an exciting time to be part of this team – Schwab is invested in your development from day one, so why not take the leap?

We encourage you to explore the opportunities at SWA. Your next big career move could be just around the corner, and we’ll be there to support you every step of the way.

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