Schwab OpenView Gateway® Adds New Participants, Increasing Choice and Flexibility for Independent Advisor Offices

Continued growth and integration as platform marks five years in market

Monday, July 11, 2016 8:30 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NYSE:
SCHW
"It’s great to see advisors increasing their use of integrations and maximizing the value of their technology investments."

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Intelligent Technologies today announced that portfolio rebalancing provider Morningstar Total Rebalance Expert (TRX) and client portal provider ModestSpark will participate in Schwab OpenView Gateway, the flexible, open-architecture technology platform that enables integration between Charles Schwab custody and Schwab Performance Technologies® (SPT) portfolio management systems and select technology providers that support independent registered investment advisors (RIAs).

Five years since its debut, Schwab OpenView Gateway is used by more than 9,850 professionals at more than 2,500 RIA firms. With these two additions, Schwab OpenView Gateway now facilitates 18 different types of integrations from 12 participating technology providers spanning client relationship management (CRM) systems, portfolio management and reporting, trading and rebalancing, financial planning and now client portals.

“Schwab OpenView Gateway was designed to provide advisors with flexibility and choice, enabling them to select from among the leading technology providers in the industry,” said Brian Shenson, vice president, Schwab Advisor Services. “We are focused on helping RIAs scale and grow their businesses through high-quality connectivity with systems they regularly use, and we are excited to welcome new participants as Schwab OpenView Gateway continues to evolve.”

New additions: Morningstar Total Rebalance Expert (TRX) and ModestSpark

  • Morningstar Total Rebalance Expert (TRX) provides automated, tax-efficient rebalancing to simplify and enhance portfolio management. This integration will allow advisors to automatically submit trades to accounts custodied with Schwab, removing the need to manually export and import trades from TRX to the custody system.
  • ModestSpark offers a web-based and mobile client portal that enables advisors to provide a dynamic online client experience with direct access to portfolio information and reports. This integration will allow advisors using PortfolioCenter Hosted or Portfolio Services to automatically update portfolio management data in the client portal. ModestSpark serves more than 600 advisory firms, 70 percent of whom custody assets with Schwab.

Additionally, Redtail Technology’s ® CRM, announced last year as a new Schwab OpenView Gateway participant, is now in pilot. Redtail provides web-based CRM software designed for the advisor market and is itself integrated with many of the industry’s most widely used applications. The integration with Schwab OpenView Gateway will bring Schwab custody balances and positions directly into the CRM, allowing advisors to quickly view and leverage the data in native Redtail features and functionality.

“We’re always seeking new ways to streamline processes and improve the advisor experience so independent advisors can be even more responsive to clients,” Shenson said. “It’s great to see advisors increasing their use of integrations and maximizing the value of their technology investments.”

Schwab Intelligent Technologies is also working to bring the power of integration to large RIAs that operate proprietary technologies. Through personalized integration consultation, Schwab Intelligent Technologies is enabling these firms to realize efficiencies in much the same way that Schwab OpenView Gateway participants are able to do with brand name solutions.

In addition to new offerings and program participants, Schwab Intelligent Technologies continues to deepen integrations with existing Schwab OpenView Gateway participants. New enhancements in development include:

  • Integration with SS&C Advent’s Black Diamond ® platform is being enhanced for the third generation Black Diamond wealth platform, which encompasses portfolio management, reporting, client communications, rebalancing and more. Single sign-on capabilities will also be expanded, allowing advisors to access Schwab Advisor Center pages and functionality directly from the Black Diamond wealth platform.
  • Single sign-on capabilities are being expanded for Junxure Cloud CRM to enable advisors to access more information on Schwab Advisor Center, including research and alerts, directly from the CRM screen.
  • Enhanced integration with Orion Advisor Services will enable secure, real-time access to cost basis data from Schwab Advisor Center®.

Other offerings from Schwab Intelligent Integration include:

  • Schwab OpenView MarketSquare ®, a website that provides advisors with peer ratings and reviews on technology solutions, including 74 RIA-focused applications and services.
  • Schwab OpenView Workflow Library provides comprehensive prepackaged best practices for automating and standardizing key tasks. There have been more than 22,400 downloads from the Library since inception.

About Schwab Intelligent Technologies ®

Schwab Intelligent Technologies is focused on delivering the next generation of intelligent integration solutions for independent registered investment advisors. Schwab Intelligent Integration increases 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®. More information 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 http://www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

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.

For general informational purposes only.

Independent investment advisors are not owned by, affiliated with or supervised by Charles Schwab & Co. Inc.(“Schwab”). The mention of the above firms is not, and should not be construed as a recommendation, endorsement or sponsorship by Schwab.

[0616-2529]

Contact:

Schwab Corporate Public Relations
Rob Farmer, 415-920-3816
Rob.Farmer@schwab.com
or
The Neibart Group
Emily Serafin, 718-875-2122
sas@neibartgroup.com

Multimedia Files:

Schwab Intelligent Technologies today announced that portfolio rebalancing provider Morningstar Total Rebalance Expert (TRX) and client portal provider ModestSpark will participate in Schwab OpenView Gateway, the flexible, open-architecture technology platform that enables integration between Charles Schwab custody and Schwab Performance Technologies® (SPT) portfolio management systems and select technology providers that support independent registered investment advisors (RIAs).
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