Schwab Private Client to be renamed Schwab
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
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,
- 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
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
- 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
- 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
- Wasmer Schroeder™ Strategies – Fixed income strategies
across the duration, credit, and tax-efficiency spectrum; choices
include both actively managed strategies and bond ladder
- 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
- 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
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
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.
©2022 Charles Schwab & Co., Inc. (“Schwab”) All rights
reserved. Member SIPC.
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