Schwab to Bankroll Breakaway Brokers
What a great idea! (I’ll bet you can’t say “bankroll breakaway brokers” three times fast.) Schwab is offering startup loans to break-away brokers with at least $75 million under management. Schwab set up a new marketing site targeted directly at brokers who are considering leaving their broker/dealer.
The long term advantages of landing high-producing brokers is so big, I’m surprised Schwab isn’t offering the loans interest-free. Best advisor-facing marketing idea I’ve heard in a long time.