In advance of Techonomy 2018, we asked our speakers crucial questions that frame our upcoming flagship event. Request your invitation to join us this November in Half Moon Bay, CA.
Q: How big of a responsibility does business have to make the world more equitable?
I think that is central to who we are: Charles Schwab exists to help more people achieve better financial outcomes for themselves and their families. We believe that if we do the right thing for clients—deliver exceptional service both digital and human at an incredible value—both our clients and Schwab thrive.
Q: What emerging technology can have the greatest positive impact on society?
There is a lot of talk around emerging technologies like blockchain, artificial intelligence, virtual reality and how they will change every industry, including financial services. But, the truth is, the big challenges to solve in our industry are around the basics—simplicity, transparency, trust. It doesn’t necessarily take emerging technologies to address those issues, but rather a commitment to truly offering clients services and experiences that are in their best interest.
Especially when dealing with individuals’ finances, we know it is critically important to offer clients a no-trade-offs value proposition that offers the best of people and technology. And still today, people are best for understanding, empathizing, and connecting.
Q: What is the biggest issue that you worry is not getting enough attention?
Schwab’s recent Modern Wealth Index found that only one in four consumers have a written financial plan, but we know that having a plan in place is critical to achieving financial goals. In a study of Americans over 50, successful planners—those who stuck with their plans—achieved an average total net worth three times higher than those who didn’t plan. In today’s world of rising expectations, financial plans have to be delivered seamlessly, in the channel of a client’s choosing, and with access to affordable and transparent help and guidance.