Getting on Schwab is only the first step

by Marilyn Dale

Michele Radcliffe

Some say one of the first steps in having a good distribution strategy is to “get on Schwab.” If that’s the case, then what Chris Lynch, a Schwab third party relationship manager and Michelle Radcliffe, head of Schwab’s 3rd party fund marketing group, had to share at SunStar Strategic’s Entrepreneur’s Conference earlier this month should be of great interest.


But, you should have been there, because between my notes, their PowerPoint and a wonderful handy guide to Schwab education and event opportunities, you’d be reading for a couple hours.

So, here are the highlights:


Chris Lynch

Once on Schwab, get to know your relationship managers for third party funds (one of a team of five). This person will help you navigate and understand what is selling and identify the key share classes and style. In addition to straight retail funds, Schwab also offers 529 plans, SMAs and retirement plan platforms. The relationship management team works with Third Party Asset Management firms offering their mutual funds at Schwab by being a focused point-of-contact for all Schwab-related items:

• Strategy discussions
• Introductions to product and service areas at Schwab
• Contractual considerations for listing products on their platforms
• Interaction with the distribution channels at Schwab provides updates to you to enhance your distribution strategy
• Introductions to asset managers in other business segments at Schwab, including:

o    Alternative investments

o    Separately managed accounts

o    Insurance

o    Sub advisory

o    ETFs

Get on “the list” – multiple channels and opportunities are available within the three mutual fund platforms—OneSource, transaction fee and load at load. And there are a number of recommended lists, which your RM can help you understand and navigate, such as:  

*See your Relationship Manager for details on requirements for eligibility.

**Includes ~50 Single State Bond Funds

Note:  Funds may also be offered to clients through Schwab Managed Portfolios. Charles Schwab Investment Advisory, Inc. is an affiliate of Charles Schwab & Co., Inc.

Did you realize that once on the Schwab platform, you can also work with their clearing correspondents: Ameriprise, Curian, JPMorgan Clearing Corp. Mesirow, R.W.Baird, SEI and Scottrade?

Use the Resources
Once on Schwab, whether on a recommended list or not, digging into their standard reports will give you a wealth of information. On the “fund map” website, you can view all the advisors who are using your products – even daily if you want. In 2012, Schwab is introducing a benchmark report which will compare you to your competitors.

Schwab also offers:

• Schwab Asset Management Firm Central^TM (AMF Central) – an online resource tool with easy access to: Frequently used reporting tools
• Related Schwab business portals with information for doing business with Schwab
• Links to the focus list
• Answers to commonly asked questions
• Marketing opportunities and an opportunity to:
• Post invites to your upcoming events, like webinars and conference calls
• Insights Publisher^TM – share your intellectual capital to educate key Schwab audiences and see what other companies are thinking. Here you can post:
• Market and global commentary
• White papers and research
• Conference call and webcast postings
• Fund fact sheets
• Fund specific commentary
• Links to other resource
• Marketing opportunities
• Education & Event Opportunities Guide, offers a collection of educational and sponsorship opportunities
• Speakers Bureau for economists, market strategists, asset class subject matter experts and value add consultant
• Calendar of Marketing Opportunities and Educational Events
• Participate in the Schwab user email, going to 15,000 bi-monthly

Be one of the best

Chris and Michelle finished their presentation by offering these “best practices” for working with Schwab:

• Offer yearly updates for the research group
• Consult with your RM about key events and changes at Schwab
• In-person visits to Schwab headquarters add value, and offers  help for building out your marketing plan  and learning more about what other areas might be useful to you
• Use the tools Schwab provides
• Add your fact sheets to the Schwab intranet
• Post to the knowledge center on the AMF Central website
• Meet your local Advisor Services reps, who can introduce you to RIAs in their regions
• Ask for introductions to enhance knowledge of things going on at Schwab
• Run small events and invite Schwab to attend
• Offer yearly updates for research
• Attend IMPACT and exhibit if you can