News, Vision & Voice for the Advisory Community


Schwab to pump millions of dollars into promoting RIAs as a channel

Bernie Clark tells crowd at national FPA conference that it's not about Schwab

Friday, September 16, 2011 – 8:42 PM by Brooke Southall
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Bernie Clark: This is our responsibility.

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Financial Planning Association
Top Executive: Lauren S. Schadle, CAE, Executive Director and CEO

BrightScope, Inc.
Data and ratings for RIAs

Elmer Rich III

Elmer Rich III

September 19, 2011 — 6:54 PM

We are aggressive marketers for our clients. Many are RIAs. We are total bulls on the importance of RIAs. However, we are cautious, for our clients, on spending to create and “push” market demand – as opposed to responding to a bottom-up demand/“pull” from the investors.

The difference is data. We assume there is growth data suggesting that the demand for RIAs is a solid trend and that it will benefit from building awareness. — among investors. This story has the anecdotes and stories — but the data, not stories, will better predict results of this spending.

Now, there are other “clients” for Schwab which is the advisor. This campaign should help raise Schwab’s brand awareness in the hyper-competitive world of custodians.

Finally, we are seeing more research and data pointing to local, metropolitan business development and marketing campaigns and strategies as more powerful than national campaigns. For example, voters make their decisions based on local relationships and communications, not national campaigns and media. The evidence appears to support that as a more effective strategy.

But any spending to help investors is a good thing.

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