Schwab Advisor Services is broadening access to its Schwab Advisor ProDirect program, extending membership to its well-established RIA clients in addition to advisors transitioning to independence.
The fee-based initiative, which debuted in July, is now positioned to support both new and established firms aiming to expand their reach and improve operational efficiency.
The move, announced as Schwab held its annual IMPACT 2025 event, comes as independent RIAs continue to see robust growth.
According to Schwab’s 2025 RIA Benchmarking Study, which surveyed nearly 1,300 RIAs with a total of $2.4 trillion in AUM, firms of all sizes reported a 16.6% increase in assets under management and a 17.6% rise in revenue over the past year. It also found the median firm achieved 4.8% growth in number of clients in 2024.
Schwab Advisor ProDirect was originally conceived for firms managing between $50 million and $300 million in client assets, offering a structured framework that includes consulting, peer engagement, and access to curated resources.
“There's a ton of mergers and acquisitions, consolidation in the top end of the marketplace, but there's huge forest regeneration on the lower end of the market, and we want to help accelerate that,” Brad Losson, head of enterprise solutions at SAS told InvestmentNews in a May interview teasing the program.
The Advisor ProDirect program was launched with a typical membership fee of $5,250 per quarter. Schwab currently serves nearly 11,000 advisors with under $100 million in assets on its custody platform, and the company’s latest studies suggest that demand for structured growth support remains high among smaller RIAs.
The program’s four-part model guides members through business planning, operational support, community learning, and growth strategies based on Schwab’s long-running benchmarking research.
“Advisors are navigating more complexity than ever, and we’re here to help clear the way,” Jon Beatty, head of Schwab Advisor Services, said on Wednesday. He added that the program is intended to “champion the independent model with structure, experience, and conviction.”
The program’s expansion reflects broader trends in the RIA space, where firms are prioritizing new client acquisition, increasing assets per client, and driving referrals. Schwab’s 2025 Independent Advisor Outlook Study found that 71% of advisors identified gaining new clients as a top priority for the next three years, while 59% are focused on increasing assets under management per client.
Schwab Advisor ProDirect is positioned as a complement to the firm’s existing custody and onboarding services. It features a community structure with focused sessions, guided discussions, and accountability measures to help members translate learning into measurable results.
“Our goal is to help firms operate with greater clarity, efficiency, and confidence as they pursue sustainable growth,” Shawnette Gauer, managing director of enterprise solutions at SAS, said in a statement Tuesday, describing the program as bringing together “consulting expertise, peer connection, and real-world best practices.”
The first cohort of both new and existing clients is set to join the Advisor ProDirect platform in January.
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