Schwab Institutional's Regional Workshops Help Advisors Get the Most Out of Technology


Wednesday, July 9, 2008 8:00 am PDT



Public Company Information:


SAN FRANCISCO--(BUSINESS WIRE)--Increasingly complex client needs coupled with explosive growth rates in the independent advisor industry are compelling firm owners and principals to look for new ways to increase the efficiency of their businesses. To help address this need, SOLUTIONS® 2008, Schwab Institutionals annual regional workshop series designed to help advisors learn and share technology best practices, kicks off in Boston today with a new track designed specifically for principals and operations managers. There will also be sessions appropriate for both newer employees and more experienced staff members.

This years SOLUTIONS series will have something for everyone, said Dan Skiles, vice president of technology for Schwab Institutional. Many SOLUTIONS attendees have told us that they save more than an hour a day after coming to our workshops, and we think that efficiency and productivity will increase even more with the participation of employees from various levels in the firm.

In addition to breakout sessions covering a variety of topics, SOLUTIONS 2008 will offer roundtable discussions allowing attendees to spend time with peers sharing ideas and best practices. Principals and operations leaders may join a discussion focused on strategies for integrating new technology, while operations staff may participate in a discussion on streamlining quarter-end reporting.

Debut of Technology Adoption Scorecard

The breakout sessions for principals and operations managers have been developed for those who want to learn best practices for improving back office productivity and maximize the value of their technology investments. The new Leveraging Schwab Technology to Improve Operational Productivity session will offer principals and operations managers tangible ideas for increasing productivity. Each attendee will receive an adoption scorecard that will give them a clear window into how frequently their employees are using online trading and account service tools. The individual firms data is then compared against a benchmark average so that advisors can see how their use of technology compares to others in the industry.

Schwab Institutionals online account services and trading tools provide advisors with significant opportunity to increase efficiency, improve client service, and to reduce errors and the need for follow-up or re-work. All of this ultimately benefits a firms bottom line, said Steve Hirsch, vice president of technology for Schwab Institutional. But until now, advisors havent had an easy way to track their adoption of technology or to see how their firms practices compare to others in the industry.

The adoption scorecard tracks usage of critical online account servicing tools, including opening new accounts, trading, cashiering, and more. Several members of Schwab Institutionals technology and operations advisory board were given a chance to preview their firms adoption scorecard at a recent meeting.

Not only did the scorecard point out areas where we may want to explore further training for our employees, but it also gave us the opportunity to provide positive feedback to our staff on the areas where we are ahead of the industry, said Chris Cordaro, principal of RegentAtlantic Capital LLC. Working in operations can sometimes be a thankless job where you dont get feedback unless things are going wrong, so it was a great way to recognize our staff for all they do to help keep our company running efficiently.

This years SOLUTIONS workshops will also continue to focus on helping new staff improve their service levels by showcasing immediately implementable techniques for streamlining business operations. For more seasoned back office employees, advanced sessions on new online account opening, funding and status tools, as well as electronic document management will be offered. In addition, there will be sessions for Schwab Performance Technologies® clients on using PortfolioCenter® more effectively for billing and data management.

The technology tools to be showcased include:

  • New online tools for opening new accounts and transferring accounts (TOAs)
  • A new Status Hub to track the progress of TOAs and new accounts
  • New online cashiering capabilities, including online wires and stock journals
  • Technologies for helping an office go paperless

Workshop Calendar

The workshops will take place in 12 cities across the country during July and August. For advisors who cannot attend any of the live events, Schwab Institutional will offer a SOLUTIONS 2008 On-Demand webcast shortly after the last workshop has concluded. Schwab Institutional clients can also view webcasts of the SOLUTIONS 2007 sessions at

This years SOLUTIONS workshops will be held in:

  • Boston, MA - July 9
  • Orange County, CA - July 16
  • Seattle, WA - July 17
  • Minneapolis, MN - July 23
  • Baltimore, MD - July 24
  • Orlando, FL - July 29
  • New York, NY - July 30
  • Columbus, OH - July 31
  • Houston, TX - August 6
  • Chicago, IL - August 7
  • Phoenix, AZ - August 12
  • San Francisco, CA - August 13

Anyone who is responsible for the firms operations is invited to attend, including principals, operations managers, experienced and new employees and advisors working with Schwab Institutional. For more information, interested parties can visit the SOLUTIONS web site to register at or call: (800) 351-6339 or (415) 277-3273.

About Schwab Institutional

Schwab Institutional is a leading provider of custodial, operational and trading support for independent fee-based investment advisors. Since 1987, Schwab Institutional has supported independent investment advisors by offering support and services to help grow their businesses and help their clients reach their financial goals. As of March 31, 2008, client assets custodied with Schwab Institutional stood at $569.7 billion. These assets, managed by the approximately 5,500 independent advisor firms Schwab Institutional currently serves, represent approximately 40 percent of total client assets custodied with The Charles Schwab Corporation. Schwab Institutional is a division of Charles Schwab & Co., Inc.

About Charles Schwab

The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.2 million client brokerage accounts, 1.3 million corporate retirement plan participants, 344,000 banking accounts, and $1.5 trillion in client assets. Through its operating subsidiaries, the company 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,, 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; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at (0708-0820)

RegentAtlantic Capital LLC and Chris Cordaro are not affiliated with or an employee of Schwab.

PortfolioCenter® is a product of Schwab Performance Technologies (SPT). Schwab Performance Technologies® is a subsidiary of The Charles Schwab Corporation.


Charles Schwab
Lindsay Tiles, 415-667-3997

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Dan Skiles, Schwab Institutional vice president of client technology consulting (Photo: Business Wire)

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