Innovation and technological changes have combined to be more disruptive than anyone could have imagined 20 years ago. Few industries have been more positively impacted than financial services. Whether being able to send money with your mobile phone, trade stocks for zero commissions, invest in broad portfolios of stocks, bonds, and/or commodities for almost zero costs across the globe, the individual investor has been a clear beneficiary of these changes. Many industry insiders believe we may still be in the very early stages of what should be a continuous cycle of change accruing to the individual investor.
Few would argue that no one firm has shown more leadership or done more for the individual investor over the last several decades than Schwab. In business for over 50 years, Schwab has been an industry pioneer by consistently driving down costs, improving market access, and providing investors education, tools, and products that have helped change the industry.
“The investment business is very competitive, and Schwab differentiates itself by providing full service at a competitive cost. We can meet investors where they want to be met,” said Fred Gaskin, independent branch leader of the Charles Schwab Bluffton branch. “Some of our clients just want access to the resources Schwab has online. Some of them want to really partner with us to help them make informed and confident decisions. A lot of clients feel better knowing who they can call for help.”
The Bluffton branch has been open almost three years and has gotten off to a very strong start with Gaskin at the helm and expanding recently to welcome financial consultants Hampton Long and Benjamin Witcher. They are uniquely positioned to help investors in the Lowcountry.
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- Benjamin Witcher
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- Hampton Long
“I feel like we’ve assembled a high-value team that differentiates us from other firms in the area,” Gaskin said. “We work very hard providing value to the client through strong relationships, excellent service, and a drive to help them meet their goals and objectives.”
It’s a team-based approach focused on leveraging their combined strengths of almost 60 years of experience in the industry and relying on each other to ensure their clients receive advice to help reach their financial goals.
If you’re the type who simply wants to manage your own investment through Schwab’s robust suite of tools on their software, web, and mobile trading platforms, it’s still comforting to know there are seasoned professionals like Gaskin and his team who are available to provide support.
“Working with clients involves a process, and that process starts with a conversation,” Gaskin said. “One approach does not fit everybody, so it starts with a discussion about goals and objectives.”
That discussion can take many forms. For example, the impending retiree who has all the puzzle pieces in place and just wants to make sure they’re on the right track. “They have assets and income sources, so with their situation, it’s more or less helping to best allocate those assets,” Gaskin said. “I tell them, ‘You’ve played the game of life and you’ve won.’ Our job is to help organize those investments so they can live their life.”
But it’s with those investors who are dipping their toes in the water for the first time, or even those who still have questions, that Schwab, to quote Gaskin, “really shines.”
“For those people, it’s really about education more than anything else—teaching them the rules of success and providing them information to help make appropriate/good decisions early,” he said.
The majority of the clients who have come to rely on the Bluffton branch of Schwab lie somewhere in the middle. For them, Gaskin knows that first conversation is perhaps the most important.
“That first conversation is really important. It gives us a chance to hear from the client about not just their goals and objectives, but also about their fears and concerns. It’s about working together with the client to establish realistic expectations; for example, does your investment strategy support your goals? It’s often about identifying the preferred level of risk and developing an appropriate asset allocation framework,” Gaskin said.
And it’s interesting to see how that conversation and that relationship still play a vital role in investing. While there are plenty of folks who take advantage of Schwab’s tools to run their own investments (some, Gaskin says, have been clients of the firm for decades and haven’t spoken to anyone in person all that time, opting to do everything online), there is a younger generation of investors who value that high-touch experience.
“One surprising change lately is how despite having all this technology at their disposal and knowing how to work it all, younger investors value working with a person,” Gaskin said. “They want that person who’s there to show them that they’re doing appropriate/suitable things.”
It’s not the only change that Gaskin has seen in his nearly four decades of providing sound financial advice. He’s stayed at the forefront as investing has grown to encompass stocks, mutual funds, Exchange-Traded Funds (ETFs), fractional share trading, and high-technology platforms and analytics. And while each has added its own dynamic to the investing picture, Gaskin understands that it ultimately boils down to one thing.
“At the end of the day, what our clients have always wanted is value,” he said. “That’s at the crux of what we do.”
To find out how Gaskin and the team at Charles Schwab’s Bluffton branch can help you reach your financial goals, call (843) 473-3620.
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