Schwab Advisor Services has unveiled new technology initiatives to help independent RIA firms build scale, reduce infrastructure as well as streamline processes.
The new technology offerings include Schwab OpenView Mobile, Electronic Authorizations for Forms and Wires with plans to develop Project PM2.
Developed by Schwab Performance Technologies, the Schwab OpenView Mobile is an advisor-branded app for RIAs which allows them to create a branded mobile presence with clients. The customizable app is scheduled for market launch in early 2014.
The new electronic authorizations for forms and wires with a select group of clients, which was first announced at IMPACT 2012, allows electronic signatures and authorizations in two key areas, account paperwork and transaction authorization.
It is easily integrated with the existing RIA and client workflows as well as tools including Schwab Advisor Center, Schwab Alliance and Schwab Mobile.
Schwab Performance Technologies is set to develop a next generation portfolio management system called Project PM2.
In addition, it is set to integrate the MoneyGuide Pro financial planning solution into the Schwab OpenView Integrated Office platform, in collaboration with PIEtech.
Schwab Advisor Services Advisor Technology Solutions senior vice president Neesha Hathi said, "Schwab is introducing capabilities that allow advisors to reinvent their model in a way that enhances the client experience, reinforces their differentiation and helps them scale their businesses."