Schwab Buys Wealth Management Platform

Charles Schwab has acquired The Family Wealth Alliance, a membership organization serving family offices and other high-end wealth firms working with ultra-high-net-worth clients. Founded in 2003, FWA members include registered investment advisors, multi-family offices, single family offices, professional services firms and specialty providers, according to Schwab. Members get access to research and educational content, exclusive events, roundtables and “curated connections,” the company says. FWA’s members collectively employ more than 20,000 people and manage over $500 billion across more than 25,000 North American households, according to a story in Financial Advisor news.