WESTLAKE, Texas--(BUSINESS WIRE)--Today, Schwab Advisor Services™ in partnership with Charles Schwab Foundation announced the expansion of its Registered Investment Advisor Talent Advantage (RIATA) Student Scholarship program. In celebration of its fifth anniversary in 2025, the scholarship program will now award $15,000 to 15 students toward their academic enrollment, increasing the number of students to 15 and amount received by $5,000.
The growth and expansion of the RIATA Student Scholarship comes at the same time we expect to see the Schwab University Grant Program reach $25M in funding for 2025. To date, grants have been awarded to 35 colleges and universities across 28 states.
Schwab is committed to empowering the next generation of talent through various programs which includes scholarships, internships, mentorship and networking opportunities, and university grants that support curriculum and program development, state-of-the-art facilities, and technology that will open doors to careers in financial planning and support the development more high-quality talent for RIAs to hire.
“We are focused not only on investing in individual students, but also in the educational systems and communities that nurture them and the industry that will one day benefit from their contributions," said Jon Beatty, Head of Schwab Advisor Services. “Our continued commitment reflects our firm belief that the future of financial services lies in the hands of the next generation of talent. We are excited to see how these emerging leaders will shape the future of finance and drive the industry forward for years to come.”
According to Schwab Advisor Services’ latest RIA Benchmarking Study, the industry will need to hire an estimated 70,000 new professionals over the next five years to keep pace with growth and best serve clients. To support this growing need, firms have become more focused on new avenues to source talent – of which, 36% said they are recruiting from colleges and universities. Another proof point as to why initiatives like these are so important.
“Investing in the next generation of talent is not only a priority for our business – it is essential to the future of the RIA industry,” said Lisa Salvi, Head of Business, Consulting and Education for Schwab Advisor Services. “We believe that creating accessible pathways towards a career in the financial planning profession will help meet the critical demand for talent and fuel the industry to serve the growing base of investors seeking to realize their financial goals.”
The team, plus 80+ students and faculty members, will kick-off the celebration of these latest advancements on-site at its flagship conference, IMPACT® 2024 Conference in San Francisco, CA. Learn more about past scholarship recipients or how to apply for next year’s scholarship by visiting the RIA Talent Advantage® Student Scholarship Website.
About Charles Schwab
At Charles Schwab (NYSE: SCHW) 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 www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, LinkedIn, and Instagram.
About Charles Schwab Foundation
Charles Schwab Foundation is an independent nonprofit public benefit corporation, funded by The Charles Schwab Corporation and classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.schwabmoneywise.com/foundation.
Disclosures
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