Schwab Intelligent Technologies announced today that Orion
Advisor Services, LLC., a premier portfolio accounting service
provider, and Redtail
Technology, a leader in web-based client relationship management
(CRM) solutions, will participate in Schwab OpenView Gateway, the
flexible, open-architecture technology platform that enables integration
between Charles Schwab custody systems and those of participating
technology providers supporting independent registered investment
advisors.
Additionally, Schwab OpenView Gateway marks a milestone with more than
1,400 independent registered investment advisor firms and more than
6,000 users at those firms leveraging integration via Schwab OpenView
Gateway, an increase of 83 percent and 39 percent
respectively since 2013. Schwab OpenView Gateway now includes
participation from leading technology providers that support independent
advisor firms in the areas of CRM systems, portfolio management, trading
and rebalancing and financial planning technologies, and Schwab is
continuing to deepen the integration capabilities with each.
“Selecting and working closely with leading technology providers,
developing deep and broad contextual integration, and continuously
identifying new opportunities for efficiencies in advisor business
processes, has been fundamental to the success of Schwab Intelligent
Integration®,” said Neesha Hathi, senior vice president,
Schwab Advisor Services. “As advisors continue to optimize technology,
some have identified Orion and Redtail as attractive platforms for their
firms, so we are pleased to welcome both of these firms to Schwab
OpenView Gateway. Over the last year, we’ve experienced dramatic growth
in adoption of Gateway as advisors are seeing the benefits of improved
efficiency and enhanced client experience.”
Announced in 2010, Schwab Intelligent Integration was designed to help
advisors increase integration between the disparate systems and
workflows in their offices. The initiative has been focused on four key
principles: CRM-centricity, intelligent integration, platform choice,
and support and guidance from Schwab.
New additions: Orion and Redtail
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Portfolio Management: Orion Advisor Services offers advisors a range
of technology solutions for portfolio accounting and the integration
with Schwab OpenView Gateway will deliver real-time, intraday updates
on Schwab accounts and more seamless trade integration.
“Our integration with Schwab OpenView Gateway is exciting because it
will empower our advisors with the most up-to-date information possible
on their Schwab accounts, providing them a faster way to trade from
within the Orion platform,” said Eric Clarke, president and CEO of Orion.
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CRM: A web-based CRM solution, Redtail Technology’s integration with
Schwab’s custody platform will enable real-time custodial data and
transactions directly into the Redtail CRM, resulting in advisors
having quick access to account information and services to empower
more efficient client service.
“We’re very happy to offer Redtail users access to account information
from Schwab directly within Redtail CRM via Schwab OpenView Gateway,”
said Brian McLaughlin, CEO, Redtail Technology. “Our goal with
integrations is always to help advisors improve office efficiencies, and
this new agreement will certainly streamline access to custodial data
for many of Redtail’s subscribers.”
More Schwab OpenView Gateway integration updates
Several existing providers to Schwab OpenView Gateway have made recent
enhancements to their integrations:
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The range of integrations with financial planning solutions has been
expanded further, delivering additional efficiency and accuracy
benefits for advisors generating plans for clients by eliminating
steps, including re-keying data and/or exporting and importing data
each time a plan is updated for a client. Among the updates: PIEtech,
Inc’s MoneyGuidePro® and Advicent’s NaviPlan®
have added integration to Schwab PortfolioCenter® Hosted;
and Advicent’s Profiles™ has added integration to Schwab’s
custody data.
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Integration with Junxure Cloud® is now available, providing
real-time access to Schwab custody data and alerts to advisors using
or transitioning to Junxure’s new cloud-based CRM solution.
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Representing a new integration capability, streamlined trading
integration is now available for advisors using the Advisor Rebalancing®
application from Envestnet | Tamarac™.
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Coming soon: Integration with Morningstar®, Inc.’s
Morningstar Office℠ will be in pilot soon. Integration with Envestnet
Advisor Suite™ is in development with a pilot planned for
summer.
“Not only are advisors embracing integration through the Schwab
Intelligent Integration multi-year initiative, but they are maximizing
the investments they make in technology,” said Brian Shenson, vice
president, Schwab Advisor Services. “Schwab and its integration
providers help RIAs get more from their technology, by connecting their
systems in a way that institutionalizes the information and workflows
across a firm. This integrated view of client information can give them
a competitive edge when it comes to winning and growing client
relationships.”
In addition to Schwab OpenView Gateway growth, Schwab OpenView
MarketSquare®, a website that provides peer ratings and
reviews on technology solutions for advisors, now features 60 product
reviews on the site, a 67 percent increase year-over-year.
About Schwab Intelligent Technologies®
Schwab Intelligent Technologies is focused on delivering the next
generation of intelligent integration solutions for independent
registered investment advisors. The Schwab Intelligent Integration
initiative is a multi-year effort 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®. More information about
Schwab Intelligent Integration, including the providers that participate
in Schwab OpenView Gateway, 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.
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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. Meant for investment advisor
audiences.
Independent investment advisors are not owned by, affiliated with or
supervised by Charles Schwab & Co. Inc.
Schwab Advisor Services provides custody and trading, as well as
technology and other support services to independent investment
advisors. It includes the custody, trading and related support services
of Charles Schwab & Co., Inc. (“CS&Co”), a registered broker-dealer and
member SIPC. It also includes the technology and related products and
services of Schwab Intelligent Technologies (“SIT”). CS&Co and SIT are
affiliated as separate subsidiaries of The Charles Schwab Corporation,
but their respective products and services are independent of each other.
Schwab OpenView Gateway™ and Schwab OpenView MarketSquare™
(MarketSquare) are offered by SIT and made available exclusively to
advisors that custody client assets with CS&Co. References to, and
statements by, third parties on the SIT or SPT websites (whether such
parties are vendors participating in a service of SIT or SPT, or
independent advisors using such a service or a service of a
participating vendor) are not an endorsement or recommendation of, or an
opinion (favorable or unfavorable) or advice about, or a referral to any
product or service of any third party. Unless indicated otherwise, third
parties are independent and not affiliated with SIT or its affiliates.
Advisors are solely responsible for evaluating, selecting, and
purchasing products and services offered or referred to on MarketSquare
or any websites of SIT or their affiliates.
Schwab Intelligent Integration ("SII") is an integrated technology
strategy. Solutions leveraging SII are offered by Performance
Technologies, Inc., (“PTI”) a subsidiary of The Charles Schwab
Corporation and an affiliate of Schwab or by participating providers in
the Schwab OpenView Gateway program.
Participating providers, other than Schwab Performance Technologies®
(“SPT”), are independent companies that are not affiliated with SIT or
any of its affiliates. Their participation is not a recommendation or
endorsement of, or referral to, the provider by SIT or any of its
affiliates. Neither SIT nor any of its affiliates makes any
representation or warranty about information furnished by any
participating provider other than SPT. Advisors are solely responsible
for evaluating, selecting, and purchasing products and services offered
by them.
(0215-1195)
Copyright Business Wire 2015