Charles Schwab said that Schwab Advisor Services and The Family Wealth Alliance will jointly focus on building community and offering value-added knowledge and resources for multifamily and single-family wealth firms


The Charles Schwab Building in Midtown Manhattan. (Credit: Tdorante10/Wikipedia)

Charles Schwab has acquired The Family Wealth Alliance (FWA), a company that provides financial resources to multifamily wealth firms and ultra-high-net-worth clients.

Charles Schwab said that its Schwab Advisor Services and FWA will jointly deliver thought leadership resources and technology.

As part of the deal, FWA founder and CEO Tom Livergood, president Rachel Hyman and the entire team has been moved to Schwab.

Schwab Advisor Services chief operating officer Jon Beatty said: “The Family Wealth Alliance is a remarkable organization that has curated a thriving member community while also making a significant impact on the ultra-high net worth space and the firms who serve this market.

“We have both built our businesses through the eyes of our clients, which means strong alignment in the way FWA serves its members and how Schwab focuses on helping advisors grow and succeed.

“We’re thrilled to welcome FWA to Schwab and to continue to create exceptional experiences and provide valuable resources for family wealth firms and advisors serving ultra-high net worth clients.”

Established in 2003, FWA is a membership organisation that serves multifamily, and single-family offices, investment advisors, professional services firms, and speciality providers.

The organisation provides its members with a customised experience, including access to advanced research and educational content, exclusive events and leader roundtables, along with curated connections

FWA supports multifamily wealth firms, such as MFOs, external CIOs, high-end financial advisory firms, and established SFOs, along with the family office practices of private banks and law and accounting firms.

FWA founder and CEO Tom Livergood said: “Joining Schwab opens an exciting new chapter for FWA at a time when the industry is not just growing, but also evolving as new generations of private wealth and the emerging talent who serve them come to the fore.

“Our combination is built around shared values of our members, FWA, and Schwab, and fuelled by the desire to serve the family wealth industry at the highest level.

“Our members remain our priority, which is why we looked for a long-term partner that shares our vision and serves and understands this market like we do.”