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In this episode of the RIA Edge Podcast, David Armstrong, editorial director for Informa Connect's Wealth Management Group, talks with Lisa Salvi, managing director of advisor services at Schwab, about the firm annual adviser benchmarking report reveals a strong comeback in 2023. While M&A remains dominant, organic growth is increasingly prioritized as a key driver for high-performing firms. Finding the right talent continues to present challenges as firms are required to invest in career path and employee development programs.

Specifically, David and Lisa discuss:

• How advisors are reinventing themselves by defining ideal client personas and cultivating long-term relationships.
• Using technology as a catalyst for driving efficiency and improving the customer experience.
• Attract and retain customers based on the value proposition, regardless of market fluctuations.
• The need for strategic hiring and employee development programs in the midst of an industry facing a critical talent shortage.
• How M&A continues to be a strategic option for many consulting firms looking to expand their reach and talent pool.
• Why succession planning is vital for firms to ensure long-term stability.

Sources:

RIA Edge Podcast

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About our guest:

Lisa Salvi is a member of the Advisor Services leadership team and is responsible for Schwab's Consulting and Business Education offering. Her team develops and manages one-on-one advisory programs and engagements designed to help independent advisors make sustainable and meaningful 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 advisor talent development through executive education and student initiatives. They also provide insights and tools that help Advisor Services' sales and support teams deliver excellent customer 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 has a bachelor's degree from the University of California, Los Angeles, and Series 7 and Series 24 recordings.