Firms may be cognizant that the wealth gap is an issue, but may feel they don't have the tools or language to respond, said Chloe McKenzie, CEO of On a Wealth Kick, speaking at Schwab IMPACT.

Far more than half are concerned about a recession, yet almost all say they intend to grow next year 20% on average and do so via new money, not through mergers or acquisitions.

The Financial Industry Regulatory Authority ordered the brokerages to pay restitution to clients allegedly sold more expensive share classes in 529 college savings plans.

Beyond just managing assets, Schwab wants to make it easier for advisors to get in on advising about liabilities and making loans among other bank-like offerings

Investment strategist Andy Rothman said he was "90% sure" there would be a trade deal between the U.S. and China by month's end during the discussion at the Schwab IMPACT Conference in San Diego.

Charles Schwab, Walt Bettinger and Bernie Clark all took part in the presentation, held at the start of the first full day of the annual conference in San Diego.

The SEC has proposed updates to the advertising and solicitation rules of the Investment Advisers Act.

Schwab strategists outlined their views on the economy—and the firm's thinking on advisors' needs.

The team will run Snowden Lane's 11th office location out of Chicago.