Schwab has unveiled National RIA Day, an annual event that will introduce college students to the RIA career path and rally advocates for the profession in Washington D.C., the custodian announced Tuesday at its IMPACT conference in Boston.
The first National RIA Day will be held Feb. 17, 2027, with subsequent editions to be held on the third Wednesday of February each year. Schwab has partnered with the CFP Board, the Foundation for Financial Planning, and the Investment Adviser Association to host the day, which is planned to spotlight the RIA career path to students on college campuses.
“On that day, university campuses across the country will open their doors, and the students who have never heard of this profession will meet the people who live it,” Jon Beatty, head of Schwab Advisor Services, said at Schwab IMPACT on a stage of LED lights, smoke jets, a T-shirt launch, and confetti.
Schwab will ring the closing bell at the New York Stock Exchange on the inaugural National RIA Day. Schwab will provide programming, toolkits, and other materials to help advisors, students, and partners take part in National RIA Day. Nearly 17,000 RIAs custody with Schwab.
“This industry has never had a moment to call its own. No occasion where every independent advisor, every student discovering this career, every fintech and asset management partner, every person who believes in the fiduciary model can stand up together,” Beatty said of the National RIA Day launch.
Schwab has previously projected that wealth managers will need to hire 70,000 new staff by 2030 to keep pace with growth rates of the RIA industry. The custodian has established a presence on college campuses, such as its Registered Investment Advisor Talent Advantage Student Scholarship that Schwab had awarded since 2020.
“The next generation of this profession is sitting in classrooms right now, and most of them have never heard of it,” said Leslie Tabor, director of business consulting services at Schwab. “National RIA Day gives us one day a year to change that, and a reason to keep building the education that carries students from a first conversation to a first job.”
Beatty said on stage that there are “millions of families” who are not working with an RIA but could become clients. He also cited data from Cerulli that said the share of affluent Americans willing to pay for financial advice jumped to 68% in 2025, up from 38% in 2010.
National RIA Day is planned to include a coordinated effort of advisors, custodian leaders, industry groups, and legislators in Washington D.C. to support the profession’s interests.
“In Washington D.C., the advocacy community will activate, standing up for the fiduciary standard and those who live it,” said Beatty.
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