Fueling Future Leaders: Schwab Announces Recipients of Registered Investment Advisor Talent Advantage Student Scholarship

Rhea-AI Summary

Schwab Advisor Services and Charles Schwab Foundation have announced the 13 recipients of the 2024 Registered Investment Advisor (RIA) Talent Advantage Student Scholarship. Each recipient will receive $10,000 to support their 2024-2025 academic year and be paired with an RIA leader for mentoring. The initiative aims to increase access to the advisory profession by reducing financial obstacles and maximizing learning for future leaders.

Over 500 students from 100+ universities applied, with applications vetted by RIA firm leaders on Schwab's Diversity, Equity & Inclusion Advocacy Board. The 2024 RIA Benchmarking Study highlighted a need for 70,000 new staff in the industry over the next five years. Schwab's efforts, including the RIATA Scholarship and the Student Program at the 2024 IMPACT Conference, aim to support, educate, and mentor the industry's future talent.

Positive

• Schwab is investing in future industry talent through $10,000 scholarships for 13 students
• The program includes mentorship from RIA leaders, providing valuable industry exposure
• High interest in the scholarship with over 500 applicants from 100+ universities
• Industry growth is creating significant demand for new talent, with 70,000 new staff needed over next 5 years

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- Today, Schwab Advisor Services in partnership with Charles Schwab Foundation announced the 13 recipients of its 2024 Registered Investment Advisor (RIA) Talent Advantage Student Scholarship (RIATA). In its fourth year, the initiative aims to increase access to the advisory profession by reducing financial obstacles and maximizing learning for future leaders.

The chosen recipients will each receive $10,000 to help support their enrollment for the 2024-2025 academic year. Each student will be paired with an independent RIA leader for mentoring to help further educate them on the opportunities within the industry and navigate the start of their professional careers.

“We are committed to creating equitable access to the industry through programs that can empower students to pursue their educational dreams while supporting them as they excel in the financial services industry and beyond,” said Jon Beatty, Managing Director, Head of Advisor Services. “This year’s scholarship winners are dedicated, curious, and inspiring individuals who will push the industry forward in more ways than one.”

This year, more than 500 students from over 100 universities across the country applied for the scholarship. The scholarship applications were vetted by individuals who are RIA firm leaders serving on Schwab’s Diversity, Equity & Inclusion (DEI) Advocacy Board. These individuals are leading efforts to cultivate an inclusive workplace, attract and develop differentiated talent, and champion diversity in the marketplace and their local communities.

The recipients of the 2024 RIA Talent Advantage Student Scholarship are:

• Chloe Garcia, University of Delaware, Senior
• Jay Zheng, Bentley University, Junior
• Jeremiah Barwick, Winthrop University, Senior
• Eber Silva, Texas Tech University, Senior
• Morgan Allen, Creighton University, Senior
• Gabi Kim, The University of Texas at Austin, Junior
• Michael Ray, University of North Florida, Senior
• Isabella Galindo Pacheco, The University of Texas at Austin, Sophomore
• Blake Grisvard, The Ohio State University, Sophomore
• Micah Barker, The University of Texas at Austin, Junior
• Ryan Arp, The Ohio State University, Senior
• Magdalena Latek, University of Colorado Boulder, Senior
• Alexandra Shipley, Utah Valley University, Senior

The recently released 2024 RIA Benchmarking Study reaffirmed that growth in the industry has translated to a vast demand for talent with the need to hire more than 70,00 new staff over the next five years without accounting for attrition, retirements, or new firms. As firms look for new talent, 36% said they recruited from colleges and universities last year.

“Not only are firms looking for new talent, but they are recognizing the value of hiring a diverse team of employees to best reflect the needs of clients today, and tomorrow,” said Lisa Salvi, Managing Director of Advisor Services. “We are thrilled to be helping students strive toward career goals while fueling the RIA industry.”

Through programs such as the RIATA Student Scholarship and other established initiatives, Schwab can have an active hand in supporting, educating, and mentoring the future of the industry. Notably, this year, 80 students are expected to attend the Student Program at Schwab’s 2024 IMPACT Conference in San Francisco, CA to network with attendees and other students, as well as participate in and learn from the speaking sessions, to get a hands-on experience of the industry at work.

To learn more about the scholarship recipients or how to apply for next year’s scholarship, visit: 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

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Click here to see the policy. Schwab is an affirmative action employer, focused on employing and advancing in employment, qualified women, racial and ethnic minorities, protected veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at applicantaccessibility@schwab.com or call 800-275-1281.

The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC), offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides deposit and lending services and products. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc., members FINRA/SIPC, are separate but affiliated companies and subsidiaries of Ameritrade Holding Corporation. Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation.

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Kristin Meza

Charles Schwab

862.742.7482

Kristin.Meza@Schwab.com

Liz Shaw

The Neibart Group (TNG)

732.757.2119

sas@neibartgroup.com

Source: The Charles Schwab Corporation

FAQ

How many recipients were awarded the 2024 RIA Talent Advantage Student Scholarship by Schwab (SCHW)?

Schwab (SCHW) awarded 13 recipients the 2024 RIA Talent Advantage Student Scholarship.

What is the value of each scholarship awarded by Schwab (SCHW) for the 2024-2025 academic year?

Each recipient of the Schwab (SCHW) RIA Talent Advantage Student Scholarship will receive $10,000 for the 2024-2025 academic year.

How many new staff does the RIA industry need to hire over the next five years according to Schwab's (SCHW) 2024 RIA Benchmarking Study?

According to Schwab's (SCHW) 2024 RIA Benchmarking Study, the RIA industry needs to hire more than 70,000 new staff over the next five years.

What percentage of RIA firms recruited from colleges and universities last year, according to Schwab (SCHW)?

According to Schwab (SCHW), 36% of RIA firms recruited from colleges and universities last year.