|By Business Wire||
|November 15, 2012 02:00 PM EST||
At its IMPACT 2012 conference today, Bernie Clark, executive vice president and head of Schwab Advisor Services announced the development and enhancement of two separate state-of-the-art learning facilities at UC Irvine and Texas Tech, which offer students the ability to receive high-quality training and educational tools in the areas of investment and wealth management. The development of these hands-on learning environments at both universities was made possible by Charles Schwab and the Charles Schwab Foundation through contributions of resources, technology and funds to build a new facility and enhance an existing one.
Bernie Clark, head of Schwab Advisor Services, with Texas Tech students at IMPACT 2012 in Chicago, IL (Photo: Business Wire)
“We are honored to have the opportunity to help support such widely respected academic institutions as UCI and Texas Tech, with whom we share the vision and goal of cultivating innovative and highly-skilled future business leaders,” said Bernie Clark. “We look forward to taking new steps to help further their work and to support those who are seeking to enter the financial services industry with the skills and know-how necessary to hit the ground running.”
At UCI, plans are in place within the university’s Paul Merage School of Business to create the Charles Schwab Trading and Technology Lab, a new, dynamic trading floor and technology facility. Scheduled to break ground in 2013, this new facility will mimic the environment and layout found at a securities-trading floor and allow students to access the latest financial market data, along with real-world tools and technology such as interactive trade stations featuring Bloomberg, Chicago Mercantile Exchange, Thomson/Reuters, Matlab, Factset, eSignal, TV monitors streaming global financial news and tickertape.
In addition, Schwab has donated a technology package, which includes license seats to Schwab Performance Technologies' PortfolioCenter® - one of the most widely used portfolio management applications available in the financial services industry and SchwabAdvisorCenter.com, the website used by RIAs who custody assets with Schwab Advisor Services. Schwab is also including the Schwab OpenView Gateway and the Schwab OpenView Workflow Library from Schwab Intelligent Technologies -- recently developed solutions focused on helping advisors scale their firms and better serve their clients by integrating technology and best practices workflows. Schwab will provide a tutorial environment, complete with demo data, so that students can receive hands-on experience in using the technology and role playing a wide range of advisor activities from business development and client service to investment management and back office operations.
“For a business school at the forefront of innovation, collaboration, research and technology, we want our students to receive the highest quality education through a practical and hands-on learning experience. This donation will make the Charles Schwab Trading Lab a reality, providing the leading concepts in a practical training ground for future leaders in the financial services industry,” said Andy Policano, dean of the Merage School.
Schwab will continue to support Texas Tech by working with the university to upgrade its Charles Schwab Personal Financial Planning Complex, originally constructed in 2009, following a donation from the company. The facility, which is used by more than 300 undergraduate and graduate students in the University’s Personal Financial Planning Department, is comprised of four rooms that house a 40-workstation technology classroom, a 16-unit technology work lab, and resource workspace, including conference and recording rooms. Designed to offer hands-on financial planning experience in client portfolio management, reporting and customer relationship management, students receive training and access to Schwab PortfolioCenter®, as well as a SchwabAdvisorCenter.com. Schwab will also include the Schwab OpenView Gateway and the Schwab OpenView Workflow Library. The donation from Schwab will be used for enhancements to the Charles Schwab Personal Financial Planning Complex including replacement computers, printers and recording equipment, as well as additional printers and data storage to accommodate the growing appetite for real-world money management experience among the student body.
In addition to direct donations, Schwab is hosting students from seven universities to gain industry education and networking opportunities at the 21st annual IMPACT conference, one of the largest gatherings for independent investment advisors in the financial services industry. Schwab announced its continued investments in UCI and Texas Tech at a special student luncheon and panel discussion on Thursday, November 15, which served as a meeting ground for both students and advisors. The luncheon also provided an opportunity for attendees to learn more about the educational initiatives, the value they have provided to students to date, and the impact these types of programs will have on shaping future business leaders within the industry going forward. Schwab’s Bernie Clark provided opening remarks to the panel discussion, with featured panelists including: Christine Daminco, Financial Planning Resident, Cornerstone Wealth Advisors, Inc.; Elissa Buie, CFP®, President and CEO, Yeske Buie and Adjunct Professor, Golden Gate University; and Barry Glassman, CFP®, CFS, President, Glassman Wealth Services.
For updates on news and events at IMPACT, follow @Schwab4RIAs and read our blog: http://aboutschwab.com/blog/category/independent_advisors
About Schwab’s Advocacy Services
Schwab Advisor Services engages in a wide range of efforts to support and advance the independent advisory industry. Activities include donations to non-profit organizations and universities, as well as providing a voice in Washington, D.C. on regulatory and public affairs issues impacting RIAs. Schwab Advisor Services established the IMPACT Awards in 2006 to honor advisors and firms that have advanced the industry through their visionary leadership, operational excellence and technology innovation and is the driver behind RIAStandsForYou.com, a multi-media national advertising campaign with a local marketing strategy that aims to support the independent RIA category and increase awareness of the independent advisory model among high net-worth investors.
About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 300 offices and 8.7 million active brokerage accounts, 1.6 million corporate retirement plan participants, 851,000 banking accounts, and $1.9 trillion in client assets as of October 31, 2012. Through its operating subsidiaries, the company 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 its Advisor Services division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides trust and custody services, banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com. Investment products offered by Charles Schwab & Co., Inc. are not insured by the FDIC, are not deposits or obligations of Charles Schwab Bank, and are subject to investment risk, including the possible loss of principal invested.
About Charles Schwab Foundation
The Charles Schwab Foundation is a nonprofit public benefit corporation, 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.aboutschwab.com/community_services. (1112-7407)
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