At our annual Symposium, we hosted a keynote presentation covering the state of the wealth management profession.

Before we share takeaways from the session, meet the keynote speakers. Sherri Trombley, the Director of Advisor Services Business Consulting and Education at Schwab Advisor Services, and Jalina Kerr, the Head of Advisor Experience at Schwab Advisor Services. Together Sherri and Jalina discuss where the financial planning profession is and where it is heading.

If you couldn’t make it, we’ve recapped the conversation below.

Jalina & Sherri’s Career Journeys

Jalina’s journey with Schwab is both extensive and inspirational. Spanning three decades, her tenure serves as a testament to her unwavering commitment to the wealth management industry. Starting as a junior advisor, Jalina’s in-depth knowledge and genuine passion for client service propelled her through the ranks, positioning her as a role model for many.

“Our team wakes up every day thinking about ways to make the lives easier for both the people who support advisors and the advisers in our community who choose to entrust their clients’ assets,” says Jalina. “I’ve grown as Schwab has grown, adapting to the ebb and flow of the financial tides. The key? Never stop learning, and always listen to the heartbeat of the client’s needs,” says Jalina.

While Jalina’s story illuminates the path of growth and dedication within Schwab, her colleague Sherri offers a different perspective, gained from 25 years of experience in advisor services at Schwab. Despite not expecting to be in the industry for this long, what kept her was her love for working with the advisors and the opportunity she has to visit universities and share with students what the RIA industry is and why it is one of the fastest-growing careers.

“It always surprises me that the RIA industry is still one of the least known among students,” says Sherri. 

The Importance of Connection and Recruitment

“Finding people who can communicate and connect with others is critically important to advisors,” says Jalina. “They’re always asking, ‘How can you help connect us with potential future employees, and how can you help raise awareness about this great part of our industry?'”

Schwab conducts a benchmarking study every year where clients respond and let them know what they are thinking about, and “recruiting new staff was their second-highest priority, second to growth,” says Jalina.

This underscores the industry’s recognition of the value of talented professionals and the need to continually attract new talent to support business expansion and client service.

Empowering the Next Generation

To empower the next generation, Schwab and other financial firms need to recognize the significance of partnering with universities to cultivate a talent pipeline for advisors and the industry. Given its rapid growth, allocating resources to nurture the next generation of talent becomes paramount.

Schwab Advisor Services champions this vision, positioning itself as an invaluable ally to both seasoned advisors and those just entering the field. Schwab’s commitment to educating the next generation of talent on a career in the RIA industry closely mirrors the goals championed by Diversitas. Through comprehensive support, resources, and advocacy, Schwab strives to demystify the path to becoming an RIA and to illuminate the myriad ways individuals can make their mark within this profession.

The array of resources Schwab offers aims to equip aspiring financial professionals with the tools they need to thrive. From cutting-edge research to innovative technology platforms, its suite of offerings is designed to empower RIAs to exceed their clients’ expectations and to drive the industry forward.

Inspiring Action: Navigating the Path to Success

As we reflect on the key takeaways from the Diversitas Symposium, it’s clear that the wealth management profession stands at an exciting crossroads. The demand for talent has never been higher, and the opportunities for impactful, rewarding careers have never been more abundant. 

For those inspired by the prospect of a career in wealth management, the journey ahead is one of discovery and opportunity. As Sherri aptly put it, “In this profession, the ability to make a difference in someone’s life is the most gratifying reward.” Let their words, combined with the ongoing support and resources from Schwab Advisor Services, be your guide as you embark on this rewarding path.

The future of wealth management shines bright with promise. With the guidance of experienced leaders and the fresh energy of new entrants, the RIA industry is poised for a new era of growth and innovation.

To watch the entire session, please click here, and to learn more about both Sherri and Jalina check out their Q&A!