Internship overview

Submitted by Marc.Jones on October 2, 2017

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Thinking about a career with an independent Registered Investment Advisory (RIA) firm? Schwab's unique Advisor Services RIA Summer Internship Program can reveal new opportunities for your future by helping you understand how RIA firms operate and serve their clients.

RIAs have a unique place in the financial services industry: Many RIA firms are owned and operated by individual investment advisors. These advisors believe their independence is instrumental to offering advice based on their clients' best interests.

The details

 

Ideal candidates will have:

  • Completed three years of college-level education toward a related BA or BS degree
  • Finished courses focused on CFP® certification/financial planning
  • An anticipated graduation date between December 2020 through May 2022
  • Interest in RIA and/or financial services operations
  • Knowledge of financial products and services, combined with extracurricular activities geared toward a career in the financial service industry
 

This internship is a paid position lasting eight weeks.

  • The 2020 internship program will run from June 18 - July 31, 2020.
  • Program to be held in Phoenix, AZ.

Application process

  • Interviews are conducted and offers are extended on a rolling basis.

Apply now

 

The Schwab Advisor Services RIA Internship Program is an eight-week educational internship designed to prepare undergraduate students for employment within RIA firms. You will learn about the independent RIA industry, the advisory profession, and how advisors and Schwab work together to accomplish the goals of risk management and client asset protection. You'll gain corporate work experience and exposure to back- and front-office RIA firm operations, build practical skills that will enable you to effectively interact with clients, and gain an understanding of the importance of client service.

As an intern, you will learn how RIAs serve their clients. Through a series of educational training sessions, you will gain experience in areas including client service, trading support, portfolio construction, and financial planning. This internship will also focus on soft skills, such as presentation development, public speaking, and professional relationship building.

The following summary provides a sample of the various rotations and training sessions from our most recent program. Each week is different and has been designed to build upon the lessons of the prior weeks.

Week 1 Intern orientation & RIA overview
  • Distinguish Schwab's history, strategy, and culture
  • Review client onboarding, relationship management, and client experience
  • Introduce the RIA model; RIA Benchmarking; economic model
  • Understand the guiding principles for advisory firm success
  • Develop facilitation and presentation skills; attend presentations and discussions with RIAs (ongoing throughout the 8 weeks) 
Week 2 Schwab Advisor Services™ (AS) custody and service experience
  • Learn SchwabAdvisorCenter™; Preview quality client experience support calls; introduction to service teams
  • Initiate Schwab Intern Investment Challenge (ongoing through week 6); Strategic Planning Session
  • Acquire networking and consultative skills; create an elevator pitch; learn positive language
  • Discuss fraud prevention; risk and controls
  • Attend presentations and discussions with RIAs (ongoing throughout the remaining 7 weeks)
Week 3 AS client support
  • Review client support services (i.e. Schwab Alliance; advisor enrollment; cost basis and client reporting; Trust, International, and Retirement Business services);
  • Discuss Charles Schwab Investment Advisory Operational Due Diligence and Charles Schwab Investment Management; Schwab Managed Portfolio Team
  • Understand complex and managed accounts; alternative investments; Schwab Advisor Portfolio Connect™
  • Enhance effective email communication
  • Introduce technology capstone (weeks 3-7); Salesforce; CRM
Week 4 Professional and industry skills development 
  • Discover Service with Emotional Intelligence; enhance resume writing skills; participate in advisor case study exercises
Week 5 RIA firm on-site experience
  • Attend RIA firm on-site visits (3 days) – introduction to the firm's business, service models, operations, client experience, and marketing strategies
  • Participate in RIA industry mock-interview
  • Review technology scorecard
Week 6 Portfolio consulting & financial planning
  • Engage in portfolio consulting and construction; financial planning overview and case study; Schwab Advisor Network®
Week 7 Trade support and networking
  • Learn about equities; mutual funds; options; ETFs; trading platforms
  • Attend SOLUTIONS®
  • Conduct mock-client meetings
Week 8 Professional development
  • Prepare and practice final presentations; present  to AS senior management
Weeks 1-8 Final presentation development
  • Understand the concept of firm differentiation and its value
  • Research industry growth projections and potential effects on the marketplace
  • Develop innovative ideas that will enable the success of future RIA firms
  • Collaborate with teammates to prepare and deliver an engaging presentation

Start the application

Apply today for the Schwab Advisor ServicesTM RIA Internship Program.

Questions?

Contact RIAInternProgram@Schwab.com.

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