Group of male and female advisors meeting in a conference room

RIA Talent Advantage®

Developing Talent

The majority of the client base at most RIA firms is aging;1 as a result, there's a new impetus to meet the needs of younger investors, who currently control $3.8T2 in investable assets. A robust talent development strategy can help you train your staff to serve the next generation of clients.

An effective talent development strategy can help your firm:


  • Attract and retain younger advisors,
  • Create a pipeline of high-performing talent,
  • Increase diversity and inclusiveness through mentorship and/or sponsorship by senior leaders,
  • Strengthen employee engagement,
  • Reduce expenses associated with extended vacancies,3 and
  • Strengthen your succession planning.


By prioritizing people as one of your most important investments, you'll be creating a signature firm culture, offering the client experience investors are looking for, and helping to ensure your firm's long-term success.

Enhancing your talent development strategy.

Here are some tactics to help you develop talent at your firm:


  • Create clearly defined career paths with well-defined expectations.
  • Develop a mentorship or sponsorship program that matches senior leaders with junior staff.
  • Invite junior staff to join senior leaders at networking events.
  • Cultivate an "open door" policy to encourage junior staff to share their ideas and have one-on-one discussions with senior leaders.
  • Hire external coaches to serve as safe and reliable sources of feedback.
  • Invite junior staff to client meetings and hold debriefings afterward.
  • Build accountability into partner behaviors by linking compensation to talent development.

Create an environment within your firm where the next generation feels like they are part of the momentum, part of the vision, part of building out new initiatives, and where they can actually have a say.5

Sabrina Lowell, Mosaic Financial Partners, Inc.

Additional Resources

  • Additional resources

    • Schwab Advisor Services offers a wide range of events and educational programs, including online learning opportunities, conferences, regional workshops, and best practices. Check out Events and Education under News & Resources on Schwab Advisor Center®  for a list of available resources.
    • Read Accelerate your success: How talent development can benefit your firm to learn how RIA firms use sponsorships to develop talent at their firms—and improve employee engagement and retention. 
  • $16T

    of global ultra-high-net-worth wealth will be transferred to the next generation over the next 30 years.4

  • RIA Talent Advantage® Recruitment Playbook

    Our RIA Talent Advantage® Recruitment Playbook offers more tips, tools, and resources on developing talent at your firm.


1. Schwab advisors reported that nearly 70% of their RIA clients had retired or expected to retire within the next 10 years. Of those RIA clients who had already retired, 63% were drawing down their portfolios, including principal. Independent Advisor Outlook Study, conducted for Schwab Advisor Services by Koski Research, June 2014.
2. Cerulli Associates, Cerulli Lodestar-Retail Investor, 2015.
3. "Accelerate Recruiting: Achieving Quality at Speed," CEB Recruiting Leadership Council, 2015.
4. Wealth-X and National Financial Partners Family Wealth Transfers Report, 2014.
5. Schwab's RIA Firm of the Future Study, conducted for Schwab Advisor Services by Koski Research, June 2015.

For informational purposes only.