Schwab looks for 'Intelligent Integration' with RIAs

Source: Charles Schwab

The Charles Schwab Corporation today added to its technology offering a new business, Schwab Intelligent Technologies™, to work with best-in-class technology providers to create Schwab Intelligent Integration™ solutions for independent registered investment advisors (RIAs).

Schwab Intelligent Technologies will deliver Schwab OpenView Gateway™, a flexible, open-architecture technology platform that enables data integration between Schwab systems1 and those of the participating technology providers used by advisors. Schwab created this new business to leverage technology and best practice workflows to help RIAs drive efficiencies in their firms.

"We believe that the right technology can fundamentally transform an advisor's business," said Bernie Clark, executive vice president and head of Schwab Advisor Services. "Schwab Intelligent Technologies will deliver the next generation of technology integration with leading providers, to improve advisor productivity, and further demonstrate our ongoing commitment to the advisor industry."

Schwab Intelligent Integration

Last year, Schwab announced a multi-year initiative, Schwab Intelligent Integration, designed to help advisors increase integration between the disparate systems and workflows in an advisor's office. The initiative is focused on four key principles: CRM-centricity, intelligent integration, platform choice and support and guidance from Schwab. In response to advisors surveyed, Schwab selected three leading client relationship management (CRM) providers -, Junxure and Microsoft - for participation in Schwab Intelligent Integration.

"We are thrilled with the progress we are making with the CRM providers and the positive feedback we are getting from advisors," said Neesha Hathi, vice president of Advisor Technology Solutions. "Quality takes time and we believe advisors will benefit from our thoughtful approach to intelligent, focused integration."

Schwab OpenView Gateway and Schwab OpenView Integrated Office

Junxure will begin its beta test with Schwab OpenView Gateway this month. In addition to Schwab's technology integration with Junxure, a discounted technology solution will be available from Junxure exclusively for Schwab clients. This solution will include training and consulting services designed to help advisors get the most out of Junxure and Schwab OpenView Gateway integration.

"Integrating with Schwab technology is very exciting because for the first time we'll have real-time data immediately available within a CRM environment," said Greg Friedman, president of Junxure. "This ground-breaking effort will invariably change the way advisors work."

Select advisors who use Salesforce will begin pilot testing Schwab OpenView Gateway and Schwab OpenView Integrated Office this month. Schwab OpenView Integrated Office is a turnkey platform, delivered by Schwab Performance Technologies, that brings together Salesforce CRM adapted for advisors who do business with Schwab1 and Schwab PortfolioServices portfolio accounting and performance reporting solution. Schwab completed beta testing of Schwab OpenView Integrated Office as well as Schwab OpenView Gateway for Salesforce in August. Schwab worked with a dozen advisors with a diverse range of Salesforce CRM configurations, gained positive feedback from advisors, and is kicking off the pilot this month.

"We are excited to work with Schwab to bring our leading CRM to advisors," said Renny Monaghan, vice president, Industry Solutions,

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