Schwab Advisor Services, a Charles Schwab business supporting independent registered investment advisors (RIAs), is working with tech company Anthropic to provide its more than 16,000 independent RIAs with a new productivity tool.
Schwab Advisor Services is the first RIA custodian included in Anthropic’s new Claude for Financial Advisors, which is designed to help advisers with research, prep and documentation tasks. It connects with tools advisers already use to run their businesses and can be assessed on the Schwab Advisor Services custody platform. It includes a library of advisor skills and plugins, and agents that handle pre- and post-meeting work.
“Independent advisors have always succeeded on the strength of their relationships, and relationships are built on advice, service and client experiences that stand apart,” Jon Beatty, head of Schwab Advisor Services, said. “AI is exponentially powering the ability of advisors to stand apart in this way, even more so if it is integrated with the proprietary workflows and tech stacks advisors have already built.”
Schwab and Anthropic will appear at the upcoming Schwab IMPACT conference to discuss the technology.
“Our goal is to bring the benefits of AI to as many families as possible, and a direct path runs through the advisors they already trust,” said Peter Nolan, head of asset and wealth management at Anthropic. “Collaborating with Schwab and the 16,000-plus independent RIAs it serves brings Claude to the firms doing that work every day, starting with a clear view of what has changed for each client.”