Schwab cuts ribbon on RIA ad campaign

Schwab Advisor Services this week is rolling out an online advertising campaign targeted at investors.
The effort, dubbed RIA Stands for You, is intended to educate consumers about how independent advisers differ from competitors.
The advisory industry struggles “with getting people to understand the differences with traditional firms,” Bernie Clark, head of Schwab Advisor Services, said in an interview last week at the Financial Planning Association’s annual meeting in San Diego, where the campaign was announced.
Online banner ads will run in Forbes.com, Bloomberg, The Wall Street Journal Digital Network, Economist.com and TheAtlantic.com beginning this week. A print ad will run in The Wall Street Journal on Oct. 22.
The online ads will direct viewers to a Schwab site with videos of advisers explaining in their own words how they work.
“Using their voices helps,” Mr. Clark said.
The advertising materials will include Schwab’s name for regulatory purposes, Mr. Clark said, but the program isn’t intended to promote Schwab. The goal is to boost awareness of the independent advisory channel, he said.
But he added that if the campaign helps expand the channel, “we will win our disproportionate share of the business.”
Schwab officials wouldn’t specify the cost of the program, but the advertising and development costs will run into the “multiple millions,” said Schwab spokeswoman Susan Forman.
The campaign will run through next year.