Charles Schwab He has returned to a former employee to take on a newly created role by working with his biggest and most complex advisory firms.
Julian Lopez, who worked for Schwab for over 20 years, is returning after an attack on Financial LPL to get the work of the Management Director of Relations Management with Schwab Advisor Services.
“Julian reunited with the leadership team with deep expertise and a strong record to serve Ria in a wide range of sizes and specialties,” said a spokesman.
Lopez had grown up in Schwab in roles, including business development and managing director of the Relations Management Team before leaving for LPL in February 2023. According to a time announcement, his work on mediator/trade was focused on “deepening relationships” with independent councilors.
Now, again with Schwab, he will take over RIA's greatest relationship for the country's greatest guardian.
“I think this is Schwab knowing the need to constantly raise the level of service and support they are offering big ria,” said Frank Larosa, CEO of Elite Consulting Partners. “As the landscape becomes more competitive for big rias, prices continue to fall, and firms like Raymond James, LPL and Goldman Sachs continue to become more competitive in the guardian arena, Schwab will continue to find ways to provide better experience.”
Schwab is still the prevailing player in RIA custody services, Repeated by recent research by Advvizorpro. This data firm and penetration revealed that Schwab increased its relations with RIA through accounts managed separately by 9.6% from year to year to 13,252 relationships.
But the smallest, technology -focused guardians are also gaining ground. For example, the altruist increased by 111.7% in 1,179 relationships, and interactive brokers saw 6.9% increase in 1.816 RIA relationships.
Larosa said he was impressed by some of the big rias that are disappointed by Schwab's ability to provide “value added” support. The new rent can help because “shows the RIA community that they are proactive in their efforts to continue attracting the best teams in the RIA space.”
Larosa also said that Lopez, whom I don't know, looks like a “big rent” not only because he has been with Schwab but also because he had time in LPL.
“The LPL continues to build the largest and most competitive firm in the industry, and the guardian space is where I see that they are a force that has to be counted with another, so why not attract someone as Julian from that environment?” He said. “He will bring unique 'inside the baseball' how LPL works.”
Schwab works with more than 15,000 RIA independent of custody and other asset management solutions, and has more than 3,000 advisory services.