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Schwab spells out the details of its franchise plan

The San Francisco broker is making five-year deals with dozens of financial advisors from across advisory channels

Wednesday, June 8, 2011 – 1:28 PM by Lisa Shidler
no description available
Andrew Salesky: It’s come up many times in the past. The timing is right.

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Mentioned in this article:

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Schwab RIA candidate

Schwab RIA candidate

June 8, 2011 — 5:23 PM

So explain to me as a prospective RIA, why should I have any discussions with a custodian whose growth strategy includes direct competition with my business? Let’s cut the spin – why would I hire Schwab as my custodian if the office down the street is actively pursuing my market with a big Schwab name on the building?

Jeff Spears

Jeff Spears

June 9, 2011 — 3:31 PM

Sounds like Edward D Jones meets Charles Schwab. The firm that should be concerned about this strategy is LPL not Schwab RIAs.

Frederick Van Den Abbeel

Frederick Van Den Abbeel

June 9, 2011 — 8:04 PM

I wonder how the employees working in Schwab’s retail branches feel about this initiative? Could a “not as good performing” employee branch be converted to a franchise operation?

Edith W.

Edith W.

July 11, 2011 — 3:56 AM

Although they said they didn’t want to use internal Schwab employees initially, why wouldn’t Schwab want to groom and train its best producers to open a Schwab franchise?

Gary Miller

Gary Miller

December 9, 2011 — 5:41 PM

I’m phoning TD Ameritrade for their joint marketing material right now. Schwab has done nothing for me for 9 years, they even charge to go to their annual event. With 20% of our assets away, why not invite clients to move even more?

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