Schwab Intelligent Technologies is to launch a review site called Schwab OpenView MarketSquare, designed to help independent investment advisors make more informed decisions when evaluating technology products and vendors.

Schwab announced the launch of the new site - which will feature ratings and advisor feedback - at its IMPACT 2012 annual press conference.

"This industry has grown by leaps and bounds over the past five or 10 years, which means that there are more providers and more resources than ever dedicated to serving independent investment advisors," said Neesha Hathi, senior vice president of technology solutions for Schwab Advisor Services. 

Schwab Intelligent Technologies is currently accepting technology vendor reviews through its website. The firm said it will begin posting the reviews in the first quarter of 2013; they can be submitted and accessed by any advisor who custodies assets with Schwab Advisor Services.

"The world is getting more complex in terms of regulations and concerns about security and fraud, but at the same time clients want anytime, anywhere attention and access," Naureen Hassan, senior vice president of client experience for Schwab Advisor Services, said at the conference.

As well as MarketSquare, Schwab is also linking up with DocuSign, enabling eSignature capabilities on the majority of Schwab forms - planned for rollout in 2013.

Via the Schwab Advisor Center, advisors will be able to create electronic packages of forms that clients and prospects can review, complete and sign online. Advisors will be able to pre-fill fields on the forms and highlight fields for their clients to fill in. Clients will also receive an e-mail notification instructing them to review, complete and electronically sign the form. Meanwhile, advisors will be able to check into Schwab Advisor Center to see the status of an application or form. 

Ultimately, the offering will eliminate virtually all hardcopy requirements for most common forms, Schwab said.