Research Schwab-sponsored research provides insight on investor trends, consumer finance, independent investment advisors, retirement, and other timely issues. Latest Research Q4 2021 Retail Client Sentiment Report, November 2021 Schwab released its Q4 2021 Retail Client Sentiment Report, which shows that bears are outrunning the bulls for the first time in a year, and retail investor clients are increasingly cautious about investing. But there is overall economic optimism and clients are beginning to return to normal living and spending behaviors after the last year and a half. The report is based on a survey of more than 1,500 Schwab retail clients. Media Contact: Hibah Shariff VIEW THE FINDINGS RIA Industry M&A: Behind the Numbers, October 2021 Almost $160 billion in total AUM has been acquired in the first six months of this year, an increase of 19% over 2020 and 23% over 2019. The transaction data alone only tells part of the story, however. Behind the numbers, M&A is a very human endeavor. This report features perspectives from buyers and sellers in five recent transactions for a closer look at what is happening beyond the data. Media Contact: Meredith Richard VIEW THE REPORT 2021 Assets in Motion Report, October 2021 This new study from Charles Schwab analyzes the movement to independence as well as RIA industry mergers and acquisitions. Media Contact: Meredith Richard VIEW THE FINDINGS Digital Investing & Technology Survey, September 2021 COVID-19 has accelerated the adoption of technology across many aspects of life, from virtual birthday parties to appointments with financial advisors by video chat, according to a new study by Charles Schwab. Schwab’s Investing and Technology Survey 2021 uncovers how the pandemic has fundamentally shifted the way investors manage their money and other financial activities. Media Contact: Marianne Ahlmann READ THE RESULTS VIEW THE FINDINGS 2021 401(k) Participant Survey Part II – Meet the Gen Z 401(k) Participant, September 2021 Stress about finances has had an outsized impact on the ability of Gen Z and Millennials to do their jobs during the pandemic, according to the annual nationwide survey of 401(k) plan participants from Schwab Retirement Plan Services. Almost half of Gen Z workers (44%) and 38% of Millennials reported that financial stress impacted their ability to do their jobs this past year, compared to 24% of all workers. Media Contact: Mike Peterson READ THE RESULTS VIEW THE FINDINGS Q3 2021 Retail Client Sentiment Report, August 2021 Schwab released its Q3 2021 Retail Client Sentiment Report, which shows that bullish market sentiment is beginning to soften, particularly among retired investors, but remains near last quarter’s all-tie high. Worries about a looming correction and volatility are top concerns among investors. The report is based on a survey of nearly 1,000 Schwab retail clients. Media Contact: Hibah Shariff VIEW THE FINDINGS 2021 RIA Benchmarking Study, July 2021 The RIA Benchmarking Study by Schwab Advisor Services is the leading study of its kind in the RIA industry. The study features insights based on self-reported information on topics such as asset and revenue growth, sources of new clients, products and pricing, staffing, compensation, marketing, technology, and financial performance. Now in its fifteenth year, more than 1,300 independent advisor firms representing over $1.5 trillion in AUM participated in this year’s study. Media Contact: Meredith Richard VIEW THE DECK 2021 401(k) Participant Survey, June 2021 Workers’ confidence about achieving retirement goals has risen sharply since last year according to a new survey from Schwab Retirement Plan Services, and so has their appetite for financial advice. The annual nationwide survey of 401(k) plan participants finds that more than half (53%) say they are very likely to achieve their retirement goals, compared to 37% in 2020. On average, plan participants in 2021 believe they need to save $1.9 million for retirement, the same amount as in 2020. Ninety-one percent say their financial health is very good or pretty good. Media Contact: Mike Peterson READ THE RESULTS VIEW THE FINDINGS Independent Advisor Outlook Study, June 2021 Schwab Advisor Services’ current Independent Advisor Outlook Study (IAOS) provides a snapshot on the outlook for industry and firm growth, a look into the new realities for firms post-COVID, and insight into how advisors view innovation. Media Contact: Meredith Richard READ THE RESULTS VIEW THE FINDINGS Q2 2021 Retail Client Sentiment Report, May 2021 Schwab released its Q2 2021 Retail Client Sentiment Report, which shows that client outlook on the U.S. stock market continues to be bullish. Market and economic worries overtake COVID-19 and the political climate as biggest investor concerns. The report is based on a survey of nearly 1,000 Schwab retail clients. Media Contact: Marianne Ahlmann VIEW THE FINDINGS Modern Wealth Survey, May 2021 As vaccination rates rise and restrictions ease across the country, a majority of Americans feel optimistic about the state of the United States overall, including the economy, the stock market and their personal financial prospects, according to Schwab’s 2021 Modern Wealth Survey, an annual examination of how 1,000 Americans think about saving, spending, investing and wealth. Media Contact: Hibah Shariff READ THE PRESS RELEASE VIEW THE REPORT FACTSHEETS: View the Boston factsheet View the Chicago factsheet View the Dallas factsheet View the Denver factsheet View the Houston factsheet View the Los Angeles/Orange County factsheet View the New York City factsheet View the Phoenix factsheet View the San Francisco Bay Area factsheet View the Seattle factsheet View the Southwest Florida factsheet View the Washington, D.C. factsheet Generation Investor Study, April 2021 Amidst a global pandemic, economic uncertainties and market volatility, a new generation of investors was born: 15 percent of all current U.S. stock market investors say they first began investing in 2020, according to a new Schwab survey. And they’re not all young and focused on the next hot stock. Looking ahead, these new investors are more bullish about their financial prospects and the market than those who began investing before 2020, and they’re ready to invest and plan for their futures. Media Contact: Hibah Shariff READ THE PRESS RELEASE VIEW THE REPORT 2020 ETF Investor Study, March 2021 ETF investors surveyed see the share of ETFs in their portfolios growing to 38% over the next five years, up from 29% today. Nearly all ETF investors (94%) say they are likely to purchase ETFs in the next two years. Notably, nearly half of the non-ETF investors surveyed (45%) say they are likely to purchase ETFs in the next two years. Media Contact: Erin Montgomery READ THE PRESS RELEASE VIEW THE REPORT 2020 RIA Compensation Report, February 2021 Schwab Advisor Services’ RIA Compensation Report reflects responses from the annual RIA Benchmarking Study and offers a comprehensive look at compensation practices in the independent financial advice industry. A total of 761 firms participated in the compensation portion in 2020, representing three-quarters of those who participated in the overall study (1,010 firms). Media Contact: Meredith Richard VIEW THE REPORT Ariel-Schwab 2020 Black Investor Survey, February 2021 The results of the 2020 Ariel-Schwab Black Investor Survey reveal that Black Americans are not benefitting from stock market growth at the same rate as white Americans at similar income levels. For more than 20 years, the Ariel-Schwab Black Investor Survey has compared attitudes and behaviors on saving and investing among Black and white Americans. Media Contact: Stephanie Corns READ THE PRESS RELEASE VIEW THE SURVEY FINDINGS VIEW GENDER-RACE SURVEY FINDINGS VIEW HISTORICAL SURVEY DATA Schwab RIA Industry Transactions Research for Second Half of 2020, February 2021 M&A volumes bounced back in the second half of 2020, and equity valuations continued to rise. Despite the pandemic and market volatility, 2020 saw the largest average M&A deal size on record. Media Contact: Meredith Richard VIEW THE FINDINGS Q1 2021 Retail Client Sentiment Report, February 2021 Schwab released its Q1 2021 Retail Client Sentiment Report, which shows that client outlook on the U.S. stock market is bullish. Top concerns around investing include COVID-19 and the political landscape. The report is based on a survey of nearly 1,000 Schwab retail clients. Media Contact: Marianne Ahlmann VIEW THE FINDINGS 2020 Research 2020 Research 2019 Research 2019 Research 2018 Research 2018 Research 2017 Research 2017 Research 2016 Research 2016 Research 2015 Research 2015 Research 2014 Research 2014 Research 2013 Research 2013 Research 1012-6993 Based on an online survey of U.S. workers eligible for a workplace 401(k) plan, half of whom are actively saving in it and half of whom are not, conducted by Koski Research for Schwab Retirement Plan Services, Inc. Koski Research is neither affiliated with, nor employed by, Schwab Retirement Plan Services, Inc. The survey is based on 1,000 interviews and has a 3% margin of error at the 95% confidence level. Survey respondents worked for companies with at least 25 employees and were 25–70 years old. Survey respondents were not asked to indicate whether they had 401(k) accounts with Schwab Retirement Plan Services, Inc. All data is self-reported by study participants and is not verified or validated. Respondents participated in the study between June 2 and June 18, 2017. Detailed results can be found here. Schwab Retirement Plan Services, Inc. is a subsidiary of the Charles Schwab Corporation. Investors should consider carefully information contained in the prospectus, including investment objectives, risk, charges, and expenses. You can request a prospectus by calling Schwab at 800-435-4000. Please read the prospectus carefully before investing. 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