Schwab’s Lisa Salvi shares insights from the firm’s annual benchmarking report, revealing how top-performing RIAs are driving significant organic growth amidst industry challenges. 

In this episode of the RIA Edge Podcast, David Armstrong, editorial director for Informa Connect’s Wealth Management Group, talks with Lisa Salvi, managing director of advisor services at Schwab, about the firm’s annual advisor benchmarking report that reveals a strong rebound in 2023. While M&A remains prevalent, organic growth is increasingly prioritized as a key driver for top-performing firms. Finding the right talent continues to pose challenges as firms are urged to invest in career pathing and employee development programs.

Specifically, David and Lisa discuss:

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• How advisors are rebounding by defining ideal client personas and cultivating long-term relationships. 
  
• Using technology as a catalyst for driving efficiency and enhancing client experience.
  
• Attracting and retaining clients based on value proposition, independent of market fluctuations.
  
• The need for strategic hiring and employee development programs amidst an industry facing a critical talent shortage.  
  
• How M&A continues to be a strategic option for many advisory firms seeking to expand their reach and talent pool.
  
• Why succession planning is vital for firms to ensure long-term stability.
  

Resources:

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• RIA Edge Podcast
  

Connect With David Armstrong: 

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• WealthManagement.com
  
• LinkedIn: WealthManagment.com
  
• LinkedIn: David Armstrong 
  
• Twitter/X: @djamesarmstrong
  
• LinkedIn: Informa
  

Connect With Lisa Salvi:

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• LinkedIn: Lisa Salvi
  
• Charles Schwab
  
• LinkedIn: Schwab
  

About Our Guest: 

Lisa Salvi is a member of the Advisor Services leadership team and is responsible for Schwab’s Business Consulting and Education offer. Her team develops and manages programs and one-on-one consulting engagements designed to help independent advisors make lasting and significant improvements within their firms by focusing on key business, technology, and cybersecurity issues. Salvi’s team leads the annual RIA Benchmarking Study, the Compensation Study, and programs that support the development of advisor talent through executive education and student initiatives. They also provide insights and tools that help the Advisor Services sales and support teams deliver outstanding client service to independent advisors.

Salvi has worked with fee-based advisors since 2003. Since joining Schwab in 2007, she has held several positions, including Chief of Staff to Bernie Clark, head of Advisor Services.

Salvi holds a bachelor’s degree from the University of California, Los Angeles, and the Series 7 and Series 24 registrations.