AdvisorEngine Completes Integration With Schwab Advisor Center® to Deliver Personalization at Scale for Independent Advisors
April 20 2021 - 9:00AM
Business Wire
For the first time, RIAs can access Schwab Advisor Center client
data as part of AdvisorEngine’s end-to-end technology platform
AdvisorEngine®, the financial experience company, announced
today it has completed its platform integration with Schwab Advisor
Center.
Advisors can now access AdvisorEngine’s open-architecture,
holistic wealth technology platform inclusive of proposal
generation, client profiling, digital account opening, portfolio
reporting, trading and rebalancing tools, fee billing, white-label
client portal and the powerful Junxure™ CRM. Firms have the control
to brand and customize the offering to ensure the experience
reflects their own unique and differentiated value proposition.
The integration takes full advantage of Schwab application
programming interfaces (APIs) and Single Sign-On (SSO)
functionality, delivering smart automation that saves time for
advisory firms and helps elevate the client experience. Key
outcomes enabled by the offering include:
- Powerful portfolio management. Data connectivity and
practice management workflows enable a full portfolio management
feature set, including performance reporting, fee billing,
rebalancing, withdrawal workflows and trade order management.
- Flexible client onboarding, driven by advisors or their
clients. Smart forms drive proposal generation, client
profiling, digital account opening, funding, account transfers and
investment implementation. This flexible offering allows for both a
traditional advisor-led experience and a ‘robo style’ client-led
experience.
- Reduced not-in-good-order (NIGO) rates. Schwab has found
that adopters of digital account opening have reduced frustrating
and time-consuming NIGOs—dropping their error rates from 30% to low
single digits.
- Operational clarity through status alerts and business
intelligence dashboards. Real-time Schwab alerts presented
through AdvisorEngine provide users with updated status information
and guide them through the next steps for in-flight workflows.
“Schwab continues to work with fintech providers who can help
fulfill our commitment to offer advisors choice for their
technology needs,” said Kartik Srinivasan, senior managing
director, Digital Advisor Solutions at Charles Schwab. “Our
deepening relationship with AdvisorEngine is a great example of the
type of quality integrations we are focused on with our third-party
solutions.”
“We are working more closely together than ever before, and the
product teams are using a thoughtful and organized approach to
support our mutual clients,” said Rich Cancro, AdvisorEngine CEO.
“This brings a new level of customization for advisors seeking a
modern and comprehensive practice management solution that is also
truly open architecture.”
Many firms are evaluating technology stack upgrades. According
to Schwab Advisor Services’ 2020 Independent Advisor Outlook Study
(IAOS), 71% of firms made new technology investments. Thematically,
top-performing firms are investing more aggressively across digital
touchpoints as compared to all other firms by adopting
functionality such as electronic signature for custodian firms,
screen sharing/co-browsing, digital forms, texting and online
meeting scheduling.
“The AdvisorEngine platform is an ideal solution for RIA firms
looking to serve more clients while still maintaining high-end
service,” said John Tyers, AdvisorEngine Chief Growth Officer.
“Schwab provides a high level of support to financial advisors. We
look forward to serving clients together across the business
development, relationship management and technology consulting
teams.”
On May 4th, AdvisorEngine will host a virtual event featuring
Schwab’s Senior Vice President and Head of Advisor Technology
Solutions, Andrew Salesky, and AdvisorEngine’s CEO, Rich Cancro to
discuss industry trends impacting independent advisor technology
use, client preferences and fintech development.
About AdvisorEngine®
AdvisorEngine powers financial advice that is personal,
scientific, and beautiful. The company’s technology is trusted by
over 1,200 wealth management firms in the United States that manage
$600 billion of assets.
Its wealth management platform uses smart automation to
modernize the advisor experience (AX), the business operations
experience (BX), and the client experience (CX). Modules include
prospect engagement tools, paperless client onboarding, account
aggregation, Junxure CRM, goals-based financial planning tools,
model portfolios tools, portfolio construction analytics,
compliance tools, performance reporting, and fee billing.
The company is a subsidiary of Franklin Resources, Inc., a
global investment management organization operating as Franklin
Templeton, whose mission is to help clients achieve better outcomes
through investment management expertise, wealth management, and
technology solutions. Based in New York, NY, and Raleigh, NC, the
AdvisorEngine team strives to fulfill six ideals through their
work: camaraderie, clarity, curiosity, creativity, crushing it, and
celebration. For more information, please visit advisorengine.com
and follow us on LinkedIn, Twitter and Facebook.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN], is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 165 countries. Through its
specialist investment managers, the company brings extensive
capabilities in equity, fixed income, multi-asset solutions and
alternatives. With offices in more than 30 countries and
approximately 1,300 investment professionals, the California-based
company has over 70 years of investment experience and
approximately $1.5 trillion in assets under management as of March
31, 2021. For more information, please visit franklintempleton.com
and follow us on LinkedIn, Twitter and Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20210420005696/en/
For AdvisorEngine: Suleman Din
suleman.din@advisorengine.com 919-839-3947
For Schwab: Michael Pendergrass
Michael.Pendergrass@schwab.com 919-743-5073
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