Schwab Advisor Portfolio Connect sees growing adoption

Maria Nikolova

More than 1,000 independent advisor firm users have adopted Schwab’s simplified, scalable portfolio management tool since it was made available in early 2019.

Schwab Advisor Portfolio Connect, Schwab’s portfolio management tool, has enjoyed growing adoption, with the number of independent advisor firm users having exceeded 1,000.

Since Portfolio Connect became broadly available in early 2019, independent investment advisors have rapidly adopted the solution into their firms. Adoption to date has been by smaller to mid-size firms (average firm AUM of $40M) seeking an intuitive approach to portfolio management that includes performance, billing and reporting. Schwab also continues to enhance Portfolio Connect to increase its appeal to larger firms.

Lauren Wilkinson, vice president, Digital Advisor Experience, Schwab Advisor Services, explains that the solution is made automatically available to all newly formed RIAs with under $100 million in assets under management who custody with Schwab.

“We are thrilled that over the past year, so many firms have adopted the solution into their workflows to ease the operational burden and costs of portfolio management,” she says.

Recently, Schwab has added several new and enhanced features to Portfolio Connect, including:

  • Batch onboarding: This feature enables advisors to easily set up payment and reporting schedules for multiple client groups or households in a single step, automating an otherwise laborious process, freeing up time and reducing errors.
  • Data export: This feature allows advisors to download data from the portfolio management system to perform custom calculations and simplifies integration with third-party applications.
  • Management View: This feature provides advisors with an aggregate view of the firm’s assets under management, including projected revenue, performance, and transactions.

Later this year, Schwab also plans to roll-out more flexible user permissions, allowing firms to grant user-level access to selected client accounts while restricting others.

“We continue to invest in Portfolio Connect to evolve our technology roadmap to deliver the technology toolkit advisors need to serve their clients and scale their businesses,” said Lauren Wilkinson.

Read this next

Digital Assets

Flock.io and io.net Unite to Pave the Way for Decentralized AI Development

In an effort to create a community-driven Flock.io platform for on-chain, decentralized AI models; the leaders have decided to join hands with io.net to power Flock with decentralized computing.

blockdag

Crypto 2025: The Action Points to Follow to Capitalize on Bitcoin and BlockDAG Network’s 2025 20000X ROI Predictions

In this analysis, we delve into the price predictions for Bitcoin and BlockDAG Network, and we explore the factors driving these projections while offering actionable insights for investors that are looking to capitalize on the 20000x potential of these projects.

Retail FX

Orfinex joins Financial Commission as approved broker member

Multi-asset brokerage firm Orfinex has become a member of the Financial Commission, joining the ranks of the self-regulatory organization. This accreditation reassures traders that the firm meets the quality standards set by the commission.

Fintech

Telegram CEO’s Bitcoin stash valued in hundreds of millions

Telegram CEO Pavel Durov revealed that he has held several hundred million dollars in fiat and bitcoin for the past decade.

Digital Assets

Bitcoin drops below $60K as halving just 300 blocks away

Bitcoin fell below the $60,000 mark on April 17, just days before a scheduled reduction in mining rewards, known as the “halving,” which is set to occur on April 20.

Chainwire

New Meme Coin ICO Dogeverse Raises $6 Million After Completing Coinsult Audit

A new multichain meme coin, Dogeverse, has raised $6 million in its presale and recently passed a smart contract audit.

The new meme coin leverages bridge technology, ensuring the token is available across the most prominent on-chain markets.

Retail FX

Interactive Brokers posts Q1 earnings, raises dividend

Interactive Brokers Group Inc (NASDAQ:IBKR) announced its first-quarter financial results for the period ending March 31, 2024. The leading automated global electronic broker reported a GAAP diluted EPS of $1.61 and an adjusted EPS of $1.64.

Fundamental Analysis, Tech and Fundamental

Global FX Market Summary: USD, FED, Gold  April 17 ,2024

The Fed’s hawkish stance on interest rates is strengthening the US dollar while central banks globally grapple with inflation and economic growth.

Digital Assets

Kraken launches self-custodial wallet, joining competitors like Coinbase

Kraken, the second-largest U.S.-based cryptocurrency exchange, has introduced its own digital wallet, aligning its offerings with those of competitors like Coinbase.

<