Tim Russell: Making portfolio moves based on the 24-hour news cycle instead of a long-term plan. A consistent, strategy-driven approach nearly always outperforms impulsive decision-making.
Steven Townsend: I see a lack of attention to taxes when investors are deciding where to allocate their assets. Account types have different tax characteristics, and if investors can match their assets with the correct accounts, they may be able to realize significant tax savings. For example, growth assets, long-term realized capital gains and qualified dividends are taxed favorably when held in a taxable account, whereas interest from corporate bonds, U.S. Treasurys, and certificates of deposit are best parked in a tax-deferred IRA.
Esteban Zuno: The biggest mistake people make is delaying their decision to start saving toward their goals. Delaying investing means they will need to save more and take on more risk to work toward their desired outcome. Additionally, postponing investments can hinder their ability to benefit from compounding returns, which is a powerful tool for building assets over time. Time in the market is more important than timing the market.
Clients seem to want both in-person attention and easy access to technology when it comes managing their wealth. How have you adapted
Colten Christianson: We let clients set the pace. In-person meetings remain the most valuable for communication and relationship building, but many also appreciate the flexibility of virtual meetings, which have now largely replaced phone calls. Regardless of format, the priority is face-to-face interaction, because our clients want to see us and we want to see them.
Rupa Jack & Kelly McMurray: We have found that clients have adapted to a more remote relationship. They have become more comfortable with video conferencing for normal things like portfolio reviews. Our relationship driven business lends us to host annual client events. They like having the more personal experience with us over a meal or social event.
Oscar Robles: We have a high-tech, high-touch approach driven by the personal relationships our advisors cultivate with clients. We are seeing more clients seek personalized professional financial guidance to help them understand the news and resist knee-jerk reactions in managing their money.
Tim Russell: The toughest challenge is delivering truly personalized advice while regulations and technology continue to move faster than ever. Staying ahead means constant learning, adaptation, and innovation.
Steven Townsend: Schwab’s bread and butter is combining in-person client service with top-of-the-line technology to make the client experience as seamless as possible. For in-person service, we have more than 400 branches across the U.S., each offering teams of financial consultants readily available to provide help.
In terms of digital, Schwab.com makes it simple to perform tasks, from managing accounts to placing complex trades, and Schwab Mobile streamlines the desktop experience for a convenient way to stay connected to investing on the go. We are constantly developing and improving capabilities to continue to meet clients evolving needs, and soon, they will see artificial intelligence applications that will further enhance and personalize their Schwab experience.
Esteban Zuno: We believe financial guidance is about people and prioritizing their individual interests and needs. We offer the option of meeting in person or virtually, depending on the member’s preference. We leverage technology to electronically sign documents and forms—a convenience members greatly appreciate. They can securely track their accounts online any time of day or night. This makes for a seamless experience, and keeps their money working harder, with personalized wealth management strategies all in one convenient place.
Biggest hurdle for the field these days?
Colten Christianson: The biggest challenge (and opportunity) is learning how to integrate technology and AI into the wealth management process without losing the personal connection that clients value most. There’s no benefit in running from innovation; instead, we need to be intentional about how we use these tools to improve efficiency, enhance analysis, and deliver more personalized advice. Technology can streamline data gathering, scenario modeling, and reporting, freeing up more time for deeper conversations about clients’ lives, values, and goals. The real hurdle is finding the right balance. Leveraging automation where it adds value, while keeping trust, human judgment, and empathy at the heart of what we do.
Rupa Jack & Kelly McMurray: Keeping up with changes happening in our business – leading with the technology changes unfolding with AI. We also focus on keeping our team culture strong – we believe in trust and communication among team members and these two attributes keep us performing at the top of our business.
Oscar Robles: I see opportunities. I rarely view anything as a hurdle, but finding time can be a hurdle. While people are busy and may not think they have time to sit with a trusted advisor, it’s so valuable to discuss things like whether you have enough insurance, have you established a realistic college fund for your children, and if you’re planning for the next 10 – 15 years. Make the time to develop a solid financial plan.
Tim Russell: Delivering truly personalized advice while regulations and technology continue to move faster than ever. Staying ahead means constant learning, adaptation, and innovation.
Steven Townsend: Advising clients amid noise and information overload in financial news. Clients are getting inundated with conflicting information from news sources, social media influencers and personalities, and it’s often unclear whether these sources are credible or not. As an advisor, I am tasked with helping clients make sense of this information and decide the right moves to make based on their unique situation. Though difficult, this makes the job more rewarding as I know we are providing counsel that clients can trust.
Esteban Zuno: One of the biggest challenges is balancing technology and automation in a way that enhances the member experience. Members have many options available to them but continue to choose us because they know our team is guided by values that prioritize their best interests. We focus on building long-term relationships, offering personalized advice, and being there through life’s ups and downs. Our advisors are deeply connected to the communities we serve, providing accessible financial guidance rooted in our understanding of members’ goals and the broader financial environment.
