RIAs

The custodian is upping the number of scholarships set aside for women and people of color.

Orion, Riskalyze and AdvisorPeak hope to offer a replacement to TradeWarrior, which will close on Dec. 31.

More clients are also looking for financial advice within the custodian’s retail channel, which offers a robo advisor and full-service wealth management arm.

Advisors will face a drastically changed industry landscape and Schwab, already an industry leader, will play an even more outsized role in the marketplace.

This year’s report on advisor compensation shows how RIAs and IBDs are attracting, retaining and rewarding talent.

In a bid to attract clients left out by AUM fees, IBDs are enabling advisors to take approaches first made popular in the full RIA channel.

Coronavirus has accelerated trends in advisor compensation as firms move to an ensemble model and enhance their benefits packages.

The No. 1 IBD is responsible for nearly half of the dozen mega-moves in its sector this year.

The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.

Disclosing such information is rare in wealth management, but long overdue, says Andy Sieg.