Digital Digest: The Latest Tech News - Schwab

Editorial Staff

11 September 2019

Schwab Advisor Services, part of Charles Schwab, has added features to its Institutional Intelligent Portfolios®, including a digital tool allowing independent investment advisors easier ways to transfer clients’ existing Charles Schwab brokerage accounts to advisor-branded automated accounts.

Since the system was launched in 2015, more than 1,100 firms have signed on to use it.

In addition to account conversion capabilities, recent enhancements include an increased number of available funds - now 2,700 mutual funds and 1,400 exchange-traded funds, which can be used to build client portfolios; unlimited portfolio-modeling capabilities, including infinite model creation and custom drift settings; the ability to handle inherited IRA accounts, and an option for advisors to initiate the digital account open process on clients’ behalf.

“Automated investment management helps advisors scale their businesses while complementing the invaluable wealth management services they already provide to investors,” Lauren Wilkinson, vice president, Digital Advisor Solutions, Charles Schwab, said.