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In this episode, David Armstrong, managing director of editorial and content strategies for the Wealth Management Group at Informa, talks with Lisa Salvi, Managing Director, Advisor Services, Charles Schwab, about Schwab’s RIA Benchmarking Study that highlights industry performance and where advisory firms achieve efficiency in sustainable growth. The conversation sheds light on the essential role of strategic planning, mentorship programs and specialized roles in nurturing talent.
Specifically, David and Lisa discuss:
- How benchmark studies reveal the industry’s significant growth, requiring firms to strategically plan for expansion.
- Why talent acquisition and development are top priorities for financial advisory firms.
- How successful firms implement strategic planning that attracts talent and leverages M&A for sustainable growth.
- The three-part process of M&A: envision, prepare and connect.
Resources:
Connect With David Armstrong:
- WealthManagement.com
- LinkedIn: WealthManagment.com
- LinkedIn: David Armstrong
- Twitter/X: @djamesarmstrong
- LinkedIn: Informa
Connect With Lisa Salvi:
About Our Guest:
Lisa Salvi is a member of the Advisor Services leadership team and is responsible for Schwab’s Business Consulting and Education offer. Her team develops and manages programs and one-on-one consulting engagements designed to help independent advisors make lasting and significant improvements within their firms by focusing on key business, technology, and cybersecurity issues. Salvi’s team leads the annual RIA Benchmarking Study, the Compensation Study, and programs that support the development of advisor talent through executive education and student initiatives. They also provide insights and tools that help the Advisor Services sales and support teams deliver outstanding client service to independent advisors.
Salvi has worked with fee-based advisors since 2003. Since joining Schwab in 2007, she has held several positions, including Chief of Staff to Bernie Clark, head of Advisor Services.
Salvi holds a bachelor’s degree from the University of California, Los Angeles, and the Series 7 and Series 24 registrations.