Charles Schwab is preparing to launch its new registered investment adviser (RIA) membership program in early 2026 with an initial group of 10 firms and plans to add about 10 more each month. The initiative marks the firm's latest effort to strengthen relationships with independent advisers by offering high-touch consulting and growth services.
Shawnette Gauer, managing director of enterprise solutions at Schwab Advisor Services, told Wealth Management that the firm's goal is "quality over quantity." Gauer described the program as a "test and learn" initiative focused on building meaningful connections with early members.
The program, known as the Schwab Advisor Membership Program, follows the company's launch of Advisor ProDirect earlier this year. Wealth Management reports that the platform is designed to support breakaway RIAs with assets between $50 million and $350 million. Schwab has now expanded eligibility to all of its custodying RIAs, opening the door to its base of more than 16,000 advisory clients.
According to Gauer, the membership program is designed to help firms "launch, connect, and grow," offering support to both new and established advisors. The annual membership fee is $21,000. Participants gain access to business and growth consulting, advisor coaching, and curated third-party products, some at discounted rates, as reported by Wealth Management.
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