- Streamlined, transparent and paperless service experience: After a successful pilot, Schwab announced the phased launch of new electronic approval tools. The new tools allow clients of advisors to easily and securely approve forms and wires on the go, leveraging platforms they already rely on -- Schwab Advisor Center®, Schwab Alliance and Schwab mobile apps. The new tools help advisors drive efficiency and deliver a better experience by streamlining paperwork, speeding up transaction processing, and delivering greater transparency on status.
- Next generation portfolio management: Schwab announced that Project PM 2 will be in beta later this year and will be launched in 2015. Project PM 2 will provide direct access to custodial data and advisors can create dashboards, reports and presentations rapidly, enabling them to easily uncover insights and share information with clients directly anytime, anywhere through one-step publishing.
Technologies That Work Together and Benefit the RIA and their clientsIn addition to the Morningstar announcement, Schwab also provided details on a number of other integration updates for Schwab OpenView Gateway. They include:
- MoneyGuidePro ® : The full integration with Gateway has now launched, enabling advisors to link client profile and account information back to MoneyGuidePro’s financial planning software system, saving advisors time on data entry and allowing them to create more precise snapshots of their assets and future investment scenarios within their financial plans.
- Naviplan ® by Advicent: Integration with the Naviplan® financial planning tool is now available to independent advisors. This integration will allow advisors to directly transfer client profiles, accounts, holdings, balances and costs to increase the speed and accuracy of creating financial plans by reducing manual data entry.
- Salentica Inc.: Schwab initiated the second phase of integration of Salentica® CRM Advisor Edition with Schwab OpenView Gateway by incorporating Schwab Advisor Center’s move money and cost basis information. This increases data accessibility and enables seamless client service processing from within the Salentica CRM. The offering will be made generally available late July.
- Advisor Rebalancing® by Envestnet | Tamarac: Now in pilot with trade integration, Advisor Rebalancing allows advisors to submit trade files they produce directly to Schwab via Schwab OpenView Gateway, eliminating the export/import process and making it faster and easier. Additionally, Tamarac’s Advisor View™, for portfolio management, and Advisor CRM® are currently integrated and supported as part of Schwab OpenView Gateway.
- Junxure: Following Junxure’s comprehensive desktop integration with Gateway, Junxure and Schwab are moving into pilot with integration of Junxure’s cloud-based CRM solution, Junxure Cloud™.
About Schwab Intelligent TechnologiesSchwab Intelligent Integration is a multi-year initiative designed to increase integration between disparate systems and workflows in advisors’ offices. Schwab OpenView MarketSquare™, Schwab OpenView Gateway™ and the Schwab OpenView Workflow Library™ are products of Schwab Intelligent Technologies™. Participating providers in Schwab OpenView Gateway are Junxure, Microsoft, Salentica, salesforce.com, Tamarac, Advicent, MoneyGuidePro and Morningstar. More information about Schwab Intelligent Integration is available at www.schwabintelligenttechnologies.com. About Charles Schwab At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, LinkedIn and our Schwab Talk blog. Disclosures Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com. Schwab Advisor Services™ includes the custody, trading, and support services of Charles Schwab & Co., Inc. ("CS&Co"), and the technology products and services of Schwab Intelligent Technologies (SIT) and Schwab Performance Technologies (SPT). SIT, SPT, and CS&Co are separate companies affiliated as subsidiaries of The Charles Schwab Corporation, but their products and services are independent of each other. SIT and SPT's intelligent integration solutions integrate data from custodial accounts at CS&Co.
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