Tuesday 24 January 2023

US-based financial services company The Charles Schwab Corp. has acquired The Family Wealth Alliance, a community and provider of resources to family wealth firms serving ultra-high net worth clients, the company said.

Together, Schwab Advisor Services and The Family Wealth Alliance will deliver the collective capabilities of industry-wide relationships, thought leadership resources, and connections, along with technology to drive growth and success for professionals and organizations focused on ultra-high net worth clients.

Founded in 2003, The Family Wealth Alliance is a membership organization that serves the family wealth community including multifamily advisory firms, single family offices, registered investment advisors, professional services firms, and specialty providers.

FWA members receive a customized experience aligned with their firm's unique goals. Membership includes access to industry-leading research and educational content, exclusive events and leader roundtables, and curated connections.

FWA Founder and CEO, Tom Livergood, president, Rachel Hyman and their entire team have joined Schwab as part of the acquisition.

Financial terms of the transaction are not being disclosed.

The Family Wealth Alliance connects the multifamily wealth community.

It is focused on supporting multifamily wealth firms, such as MFOs, external CIOs, high-end financial advisory firms, established SFOs, and the family office practices of private banks and law and accounting firms.

Since 2003, our innovations, proprietary research and insights have touched all aspects of the family wealth industry and made a positive difference in the businesses of hundreds of firms.

Its members employ over 20,000 employees, serve over 25,000 North American households, advising on upwards of half a trillion dollars of collective assets.

Through its operating subsidiaries, The Charles Schwab Corp. (NYSE: SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors.